Truist Financial Corp Lowers Holdings in Installed Building Products, Inc. (NYSE:IBP)

Truist Financial Corp decreased its holdings in Installed Building Products, Inc. (NYSE:IBP) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,139 shares of the construction company’s stock after selling 357 shares during the period. Truist Financial Corp owned about 0.06% of Installed Building Products worth $2,828,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of IBP. GHP Investment Advisors Inc. lifted its position in Installed Building Products by 185.7% during the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Blue Trust Inc. increased its stake in Installed Building Products by 7.9% during the fourth quarter. Blue Trust Inc. now owns 1,257 shares of the construction company’s stock worth $220,000 after acquiring an additional 92 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Installed Building Products by 8.9% during the fourth quarter. Sanctuary Advisors LLC now owns 1,561 shares of the construction company’s stock valued at $274,000 after buying an additional 128 shares during the last quarter. TD Private Client Wealth LLC grew its stake in shares of Installed Building Products by 15.3% during the third quarter. TD Private Client Wealth LLC now owns 1,034 shares of the construction company’s stock valued at $255,000 after buying an additional 137 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC grew its stake in shares of Installed Building Products by 4.3% during the third quarter. Ashton Thomas Private Wealth LLC now owns 3,425 shares of the construction company’s stock valued at $843,000 after buying an additional 140 shares during the last quarter. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Price Performance

IBP opened at $170.89 on Wednesday. Installed Building Products, Inc. has a 1-year low of $162.20 and a 1-year high of $281.04. The company has a 50-day moving average of $183.67 and a 200-day moving average of $209.45. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The company has a market capitalization of $4.81 billion, a P/E ratio of 18.99 and a beta of 1.99.

Analyst Ratings Changes

A number of research firms have weighed in on IBP. JPMorgan Chase & Co. upped their target price on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Seaport Res Ptn downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. The Goldman Sachs Group reduced their price objective on Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. DA Davidson cut their price target on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, Evercore ISI cut Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their price objective for the stock from $238.00 to $206.00 in a report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $240.40.

Installed Building Products Company Profile

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.