Installed Building Products (NYSE:IBP) Lowered to Underperform Rating by Evercore ISI

Evercore ISI lowered shares of Installed Building Products (NYSE:IBP) from an outperform rating to an underperform rating in a research note issued to investors on Monday, MarketBeat.com reports. Evercore ISI currently has $206.00 price target on the construction company’s stock, down from their previous price target of $238.00.

IBP has been the subject of a number of other research reports. DA Davidson reduced their target price on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday, November 8th. JPMorgan Chase & Co. boosted their price target on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Jefferies Financial Group raised their price objective on Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada lowered shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their target price for the stock from $203.00 to $197.00 in a report on Friday, November 8th. Finally, StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $247.10.

Installed Building Products Stock Performance

Shares of IBP opened at $195.20 on Monday. Installed Building Products has a 52 week low of $168.08 and a 52 week high of $281.04. 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’s 50 day moving average price is $223.81 and its 200-day moving average price is $222.97. The stock has a market cap of $5.49 billion, a P/E ratio of 21.69 and a beta of 1.93.

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.72%. Installed Building Products’s dividend payout ratio is presently 15.56%.

Institutional Trading of Installed Building Products

Large investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC purchased a new stake in shares of Installed Building Products during the 3rd quarter valued at $29,000. GHP Investment Advisors Inc. raised its stake in shares of 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 buying an additional 78 shares during the last quarter. CWM LLC grew its stake 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 worth $52,000 after purchasing an additional 62 shares during the period. Advisors Asset Management Inc. increased its holdings in Installed Building Products by 152.2% in the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after buying an additional 140 shares in the last quarter. Finally, Quarry LP grew its holdings in Installed Building Products by 953.3% in 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 during the period. 99.61% of the stock is owned by hedge funds and other institutional investors.

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.