Installed Building Products (NYSE:IBP) Shares Up 9.4% After Analyst Upgrade

Installed Building Products, Inc. (NYSE:IBP)’s share price rose 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 were traded during trading, a decline of 45% from the average daily volume of 293,768 shares. The stock had previously closed at $217.09.

A number of other research firms also recently commented on IBP. Evercore ISI lifted their price target on Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Royal Bank of Canada downgraded 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. Truist Financial raised their price objective on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. StockNews.com upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Finally, Jefferies Financial Group increased their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $253.70.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in Installed Building Products in the 3rd quarter worth approximately $29,000. GHP Investment Advisors Inc. raised its stake in Installed Building Products by 185.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after acquiring an additional 78 shares in the last quarter. CWM LLC boosted its position in Installed Building Products by 32.1% during the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after acquiring an additional 62 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Installed Building Products by 152.2% in the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after purchasing an additional 140 shares in the last quarter. Finally, Quarry LP raised its stake in shares of Installed Building Products by 953.3% during the third quarter. Quarry LP now owns 316 shares of the construction company’s stock valued at $78,000 after purchasing an additional 286 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Up 8.6 %

The firm has a market capitalization of $6.64 billion, a P/E ratio of 26.01 and a beta of 1.95. The business’s 50 day moving average is $230.72 and its two-hundred day moving average is $222.93. 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.59%. Installed Building Products’s dividend payout ratio 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.