JPMorgan Chase & Co. Raises Installed Building Products (NYSE:IBP) Price Target to $241.00

Installed Building Products (NYSE:IBP) had its price target lifted by JPMorgan Chase & Co. from $236.00 to $241.00 in a report published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the construction company’s stock.

IBP has been the subject of a number of other reports. DA Davidson reduced their price target on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, November 8th. The Goldman Sachs Group lifted their price objective on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group lifted their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. 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, Royal Bank of Canada lowered shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price target for the stock from $203.00 to $197.00 in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Installed Building Products presently has a consensus rating of “Hold” and an average target price of $253.70.

Installed Building Products Price Performance

Installed Building Products stock opened at $235.83 on Friday. The stock has a market cap of $6.64 billion, a P/E ratio of 26.01 and a beta of 1.95. The company has a fifty day simple moving average of $230.72 and a 200-day simple moving average of $222.93. Installed Building Products has a 12-month low of $145.13 and a 12-month high of $281.04. 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 firm also recently declared 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 dividend yield of 0.59%. The ex-dividend date is Friday, December 13th. Installed Building Products’s dividend payout ratio (DPR) is presently 15.56%.

Institutional Trading of Installed Building Products

Several institutional investors and hedge funds have recently modified their holdings of IBP. Vanguard Group Inc. lifted its stake in shares of Installed Building Products by 0.7% during 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. Swedbank AB increased its position in Installed Building Products by 11.6% during the second 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 last quarter. Blue Trust Inc. increased its position in Installed Building Products by 456.2% during the second quarter. Blue Trust Inc. now owns 3,810 shares of the construction company’s stock worth $784,000 after purchasing an additional 3,125 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Installed Building Products by 1,328.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock worth $51,107,000 after purchasing an additional 183,696 shares during the last quarter. Finally, Summit Global Investments acquired a new position in Installed Building Products during the second quarter worth approximately $1,146,000. Hedge funds and other institutional investors 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.