Installed Building Products (NYSE:IBP) Trading 9.4% Higher on Analyst Upgrade

Installed Building Products, Inc. (NYSE:IBP)’s share price was up 9.4% on Monday after JPMorgan Chase & Co. raised their price target on the stock from $236.00 to $241.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Installed Building Products traded as high as $238.04 and last traded at $237.59. Approximately 161,547 shares traded hands during trading, a decline of 45% from the average daily volume of 293,768 shares. The stock had previously closed at $217.09.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada cut Installed Building Products from a “sector perform” rating to an “underperform” rating and lowered their price target for the company from $203.00 to $197.00 in a report on Friday, November 8th. DA Davidson lowered their target price on Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Stephens reissued 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. Truist Financial upped their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group increased their price objective 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $253.70.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Diversified Trust Co boosted its position in shares of Installed Building Products by 2.3% during the second quarter. Diversified Trust Co now owns 2,021 shares of the construction company’s stock worth $416,000 after acquiring an additional 46 shares during the last quarter. CWM LLC boosted its holdings in shares of Installed Building Products by 32.1% during the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after purchasing an additional 62 shares during the last quarter. Arkadios Wealth Advisors grew its position in shares of Installed Building Products by 2.5% during the second quarter. Arkadios Wealth Advisors now owns 2,545 shares of the construction company’s stock valued at $523,000 after purchasing an additional 63 shares in the last quarter. Xponance Inc. increased its holdings in shares of Installed Building Products by 5.3% in the second quarter. Xponance Inc. now owns 1,519 shares of the construction company’s stock worth $312,000 after purchasing an additional 76 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its position in shares of Installed Building Products by 185.7% in the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock worth $30,000 after buying an additional 78 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors.

Installed Building Products Stock Performance

The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The business has a 50 day moving average of $230.91 and a 200 day moving average of $222.92. The company has a market capitalization of $6.34 billion, a P/E ratio of 25.05 and a beta of 1.95.

Installed Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Friday, December 13th. Installed Building Products’s dividend payout ratio (DPR) is presently 15.56%.

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.