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Installed Building downgraded to Underperform from Sector Perform at RBC
The Fly

Installed Building downgraded to Underperform from Sector Perform at RBC

RBC Capital downgraded Installed Building Products (IBP) to Underperform from Sector Perform with a price target of $197, down from $203. The firm sees weaker margins following Q3’s softer price/mix as well as gross margin headwinds. The analyst also sees post-election risk of a potential rollback of tougher pending energy code enforcement, which could “dampen” Installed Building’s volume and price outlook as well as investor sentiment. It sees an unattractive near-term risk/reward with the stock’s valuation “still elevated.”

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