Installed Building Products (NYSE:IBP) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Installed Building Products (NYSE:IBP) from a buy rating to a hold rating in a report issued on Tuesday morning.

Other equities analysts have also issued research reports about the stock. DA Davidson reduced their target price on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Truist Financial increased their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Jefferies Financial Group increased their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. The Goldman Sachs Group increased their target price on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Evercore ISI increased their target price on shares of Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. One research 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $253.70.

Installed Building Products Price Performance

Shares of NYSE:IBP opened at $225.42 on Tuesday. The company’s fifty day moving average price is $230.91 and its 200-day moving average price is $222.92. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 25.05 and a beta of 1.95. Installed Building Products has a one year low of $145.13 and a one year high of $281.04. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, December 13th. This represents a $1.40 annualized dividend and a yield of 0.62%. Installed Building Products’s payout ratio is currently 15.56%.

Institutional Investors Weigh In On Installed Building Products

Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in Installed Building Products by 8.4% during the 3rd 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 lifted its position in shares of Installed Building Products by 61.5% in the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after purchasing an additional 367,628 shares during the period. Geode Capital Management LLC lifted its position in shares of Installed Building Products by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock worth $153,452,000 after purchasing an additional 23,179 shares during the period. Swedbank AB lifted its position in shares of Installed Building Products by 11.6% in the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after purchasing an additional 43,000 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its position in shares of Installed Building Products by 6.5% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 329,166 shares of the construction company’s stock worth $81,063,000 after purchasing an additional 20,155 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.