Proven Building Products (NYSE: IBP) has been downgraded to underperform by the Royal Bank of Canada

Proven Building Products (NYSE: IBP – Get Rating) The rating was downgraded by equity research analysts at Royal Bank of Canada from a “segment performer” rating to a “underperforming” rating in a report released on Wednesday, according to Briefing.com. They currently have a price target of $71.00 on the builder’s stock, down from their previous price target of $91.00. The Royal Bank of Canada price target indicates a potential decrease of 7.77% from the company’s previous close.

The IBP has been the subject of several other research reports. Goldman Sachs Group lowered its price target on proven building products from $114.00 to $95.00 and assigned the company a “neutral” rating in a research report on Tuesday, April 12th. BTIG Research lowered its price target on proven building products from $124.00 to $108.00 in a research report on Friday, May 6. StockNews.com upgraded shares of Proven Construction Products from a “hold” rating to a “buy” rating in a report released on Friday, May 6th. Trust Financial lowered its target price for proven construction products shares from $135.00 to $100.00 in a research report on Friday, May 6th. Finally, JPMorgan Chase & Co lowered its price target for proven construction products shares from $101.00 to $88.00 and assigned the company a “neutral” rating in a research report on Wednesday, April 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an agreed target price of $106.56.

Shares of Fixed Building Products opened at $76.98 on Wednesday. The company has a trading ratio of 2.57, a quick ratio of 2.08 and a debt-to-equity ratio of 2.13. The company has a fifty-day simple moving average of $86.94 and a 200-day simple moving average of $102.26. The stock has a market capitalization of $2.26 billion, a price-earnings ratio of 16.84 and a beta of 1.76. Installed building products recorded a one-year low of $75.57 and a one-year high of $141.43.

Installed Building Products (NYSE: IBP – Get Rating) announced its earnings results on Thursday, May 5th. The construction company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.46. The company generated revenue of $587.50 million for the quarter, compared to the consensus estimate of $541.59 million. Proven Building Products generated a net profit margin of 6.38% and a return on equity of 45.84%. Quarterly revenue for the business increased 34.4% year over year. During the same quarter last year, the company reported $0.90 per share. As a group, research analysts expect Installed Building Products to generate 7.16 earnings per share for the current year.

Several hedge funds have recently added or reduced their stakes in the company. Verition Fund Management LLC bought a new position in shares of Proven Building Products during the first quarter valued at $209.000. Investment advisor Aurora raised its stake in proven construction products by 1.6% during the first quarter. Investment advisor Aurora now owns 7,450 shares of the construction company’s stock, valued at $629,000 after purchasing an additional 115 shares during the last quarter. Walleye Trading LLC acquired a new position in Proven Building Products in the first quarter valued at approximately $473,000. Advisors Asset Management purchased a new stake in Installed Building Products during the first quarter valued at approximately $150,000. Finally, Jane Street Group LLC acquired a new stake in shares of Installed Building Products during the first quarter worth approximately $231,000. Institutional investors own 98.94% of the company’s stock.

Proven Company Profile for Building Products (Get Rating)

Installed Building Products, Inc., along with its subsidiaries, is engaged in the installation of insulation, waterproofing, fire arresting, fireproofing, garage doors, rain gutters, window blinds, shower doors, cabinet racks and mirrors, and other products in the United States Continental. States. The company offers a range of insulating materials, such as fiberglass and cellulose, and spray foam insulation materials.

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