Installed Building Products price target lowered to $210 from $215 at Loop Capital

Loop Capital lowered the firm’s price target on Installed Building Products (IBP) to $210 from $215 and keeps a Buy rating on the shares as part of a broader research note on Insulation names. The firm cites contacts reporting that insulation demand was down mid-single-digits on average in Q1 due to softer YTD single-family demand fundamentals, regional adverse weather, and the industry now working through a period of double-digit declines in multi-family starts, the analyst tells investors in a research note.