Loop Capital sees continued supply constraints in Insulation companies

In a broader research note on Building Products, Loop Capital keeps a Buy rating on Installed Building Products (IBP) and TopBuild (BLD) with unchanged price targets of $270 and $445 respectively. The firm states that its contacts reported that insulation demand continued to see steady positive growth in Q3, led by healthy single- family completions and multi-family backlogs which were largely worked off during the quarter, the analyst tells investors in a research note. The channel checks of high-level insulation contacts also reported cautious optimism regarding 2025 demand expectations in a likely improving single-family start environment, Loop added.