Installed Building Products price target lowered to $180 from $240 at Truist

Truist lowered the firm’s price target on Installed Building Products (IBP) to $180 from $240 and keeps a Hold rating on the shares. The company’s Q4 results were modestly above consensus views but with continued slowing of price/mix gains, and this may continue into 2025 with little bottom line help from this metric, the analyst tells investors in a research note. Single family is trending flattish but multi-family will most likely deteriorate, though the management has said for sometime that they believe share gain in multi-family will help weather through these results, Truist adds.