Royal Bank of Canada Downgrades Installed Building Products (NYSE:IBP) to Underperform

Royal Bank of Canada lowered shares of Installed Building Products (NYSE:IBP) from a sector perform rating to an underperform rating in a research note published on Friday morning, MarketBeat Ratings reports. The brokerage currently has $197.00 price objective on the construction company’s stock, down from their prior price objective of $203.00.

IBP has been the subject of a number of other reports. Truist Financial upped their target price on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Stephens restated an “equal weight” rating and issued a $240.00 target price on shares of Installed Building Products in a research report on Monday, August 5th. Evercore ISI increased their price objective on Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group increased their price objective on Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Installed Building Products currently has an average rating of “Hold” and a consensus target price of $252.30.

Installed Building Products Stock Performance

IBP opened at $210.74 on Friday. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 23.42 and a beta of 1.95. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.59. Installed Building Products has a 1-year low of $124.01 and a 1-year high of $281.04. The business has a 50 day moving average price of $231.09 and a two-hundred day moving average price of $225.16.

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Friday, December 13th. Installed Building Products’s dividend payout ratio (DPR) is presently 15.56%.

Hedge Funds Weigh In On Installed Building Products

Several hedge funds have recently bought and sold shares of IBP. Vanguard Group Inc. boosted its holdings in Installed Building Products by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock valued at $683,421,000 after acquiring an additional 18,890 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in shares of Installed Building Products in the first quarter valued at approximately $564,000. Swedbank AB grew its holdings in Installed Building Products by 11.6% during the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after acquiring an additional 43,000 shares during the period. Blue Trust Inc. boosted its position in shares of Installed Building Products by 456.2% during the second quarter. Blue Trust Inc. now owns 3,810 shares of the construction company’s stock worth $784,000 after purchasing an additional 3,125 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Installed Building Products by 1,328.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock valued at $51,107,000 after acquiring an additional 183,696 shares in the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Company Profile

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.