Installed Building Products (NYSE:IBP) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Installed Building Products (NYSE:IBP) from a hold rating to a buy rating in a research note published on Friday.

IBP has been the topic of several other reports. Stephens reaffirmed an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a research note on Monday, August 5th. DA Davidson decreased their price target on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Jefferies Financial Group raised their price target on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Evercore ISI raised their price target on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group raised their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $252.30.

Installed Building Products Price Performance

Shares of NYSE IBP opened at $205.15 on Friday. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 22.37 and a beta of 1.95. Installed Building Products has a 52 week low of $141.14 and a 52 week high of $281.04. The company’s 50-day moving average price is $230.77 and its 200 day moving average price is $224.04. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, December 13th. This represents a $1.40 annualized dividend and a dividend yield of 0.68%. Installed Building Products’s payout ratio is currently 15.56%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Installed Building Products by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock valued at $683,421,000 after buying an additional 18,890 shares during the period. State Street Corp raised its holdings in Installed Building Products by 8.4% in the third quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock valued at $307,472,000 after buying an additional 96,780 shares during the period. FMR LLC raised its holdings in Installed Building Products by 61.5% in the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock valued at $237,786,000 after buying an additional 367,628 shares during the period. Geode Capital Management LLC raised its holdings in Installed Building Products by 3.9% in the third quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock valued at $153,452,000 after buying an additional 23,179 shares during the period. Finally, Swedbank AB raised its holdings in Installed Building Products by 11.6% in the second quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock valued at $85,357,000 after buying an additional 43,000 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.

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.