Installed Building Products, Inc. (NYSE:IBP) Given Average Rating of “Hold” by Brokerages

Shares of Installed Building Products, Inc. (NYSE:IBP) have been assigned an average rating of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $247.10.

Several equities research analysts have recently commented on the company. Seaport Res Ptn cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and cut their price objective for the stock from $203.00 to $197.00 in a research report on Friday, November 8th. DA Davidson lowered 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. Jefferies Financial Group boosted 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. Finally, Evercore ISI downgraded shares of Installed Building Products from an “outperform” rating to an “underperform” rating and reduced their price objective for the company from $238.00 to $206.00 in a research report on Monday, December 16th.

Installed Building Products Stock Down 0.5 %

IBP opened at $177.24 on Wednesday. The business has a 50 day moving average price of $217.07 and a two-hundred day moving average price of $221.75. Installed Building Products has a 52 week low of $168.08 and a 52 week high of $281.04. The company has a market cap of $4.99 billion, a PE ratio of 19.69 and a beta of 1.93. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18.

Installed Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s dividend payout ratio (DPR) is 15.56%.

Hedge Funds Weigh In On Installed Building Products

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBP. Bank of New York Mellon Corp raised its holdings in shares of Installed Building Products by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company’s stock worth $46,572,000 after acquiring an additional 4,943 shares during the last quarter. Arkadios Wealth Advisors raised its stake in Installed Building Products by 2.5% in the 2nd 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Installed Building Products by 12.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,967 shares of the construction company’s stock valued at $2,050,000 after purchasing an additional 1,086 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Installed Building Products by 5.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 42,733 shares of the construction company’s stock worth $8,789,000 after purchasing an additional 2,057 shares during the last quarter. Finally, F M Investments LLC purchased a new stake in shares of Installed Building Products during the second quarter worth about $10,261,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

About Installed Building Products

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.