Installed Building Products: Hard To Justify Current Valuation With Poor Near-Term Outlook (Rating Downgrade)

Following my coverage on Installed Building Products, Inc. (NYSE: IBP ) in September ’23, in which I recommended a buy rating due to my expectation that the demand outlook was solid and IBP should ride on thatI take a fundamentals-based approach to value investing.I disagree with the common misconception held by many investors that low multiple stocks must be cheap. I look for companies that offer the best long-term durability at the most affordable prices. Consequently, I have a propensity to be drawn to c ...