IBP Price Prediction Next Week
Technical Analysis: Based on recent price action, IBP has shown a downward trend over the past week, falling from $209.47 on February 14th to $199.93 on February 21st, representing a decline of approximately 4.6%.
Key Technical Indicators:
- The stock has broken below its recent support level around $203
- Volume has increased during the decline, suggesting stronger selling pressure
- Current price is testing support at $200 psychological level
News Analysis:
- RBC Capital recently downgraded IBP from Sector Perform to Underperform with a price target reduction from $203 to $197
- However, IBP received a 100% rating from Validea's Twin Momentum Investor model, indicating strong fundamentals within the Construction Services industry
Price Prediction for Next Week: Based on technical analysis and recent news sentiment:
- Resistance levels: $203, $206
- Support levels: $198, $195
Target price range for next week: $195-$200
Trading Recommendation: SELL Rationale:
- Recent analyst downgrade with lower price target
- Deteriorating technical picture with increased selling volume
- Break below key support levels
- Negative momentum indicators
The stock is likely to test lower support levels around $195 before finding meaningful buying interest. Traders should watch for any bounce off the $198 support level for potential short-term trading opportunities.
IBP Similar Chart Price Prediction
The price of IBP is predicted to go up -6.88%, based on the high correlation periods with BLD. The similarity of these two price pattern on the periods is 97.98%.
IBP
BLD
Down: -6.88%Similarity: 97.98%
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IBP Analyst's Forecast
Mike Dahl
RBC Capital
Hold → Sell
2024-11-08
Price Target
$203 → $197
Downside
-6.31%
RBC Capital downgraded Installed Building Products 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."
Philip Ng
Jefferies
Hold
2024-10-09
Price Target
$240 → $252
Upside
+7.73%
