Installed Building Products (NYSE:IBP) Price Target Lowered to $180.00 at Truist Financial

Installed Building Products (NYSE:IBP) had its price objective reduced by Truist Financial from $240.00 to $180.00 in a research note released on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the construction company’s stock.

Several other analysts have also recently issued reports on IBP. The Goldman Sachs Group reduced their price target on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. DA Davidson reduced their target price on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a report on Friday. Benchmark dropped their price target on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a research note on Monday. Evercore ISI cut 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 note on Monday, December 16th. Finally, StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $224.90.

Installed Building Products Stock Down 5.1 %

Shares of NYSE IBP opened at $162.58 on Monday. Installed Building Products has a 52-week low of $161.64 and a 52-week high of $281.04. The business’s 50 day moving average is $183.20 and its two-hundred day moving average is $208.62. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 18.06 and a beta of 1.99. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.37 per share. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 0.91%. Installed Building Products’s payout ratio is presently 16.26%.

Institutional Trading of Installed Building Products

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Curio Wealth LLC acquired a new position in shares of Installed Building Products in the 4th quarter valued at $30,000. McIlrath & Eck LLC boosted its stake in Installed Building Products by 32.3% in the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock valued at $44,000 after acquiring an additional 61 shares in the last quarter. Advisors Asset Management Inc. boosted its stake 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 acquiring an additional 140 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Installed Building Products by 295.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock worth $64,000 after purchasing an additional 272 shares during the last quarter. Finally, Quarry LP increased its position 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 worth $78,000 after purchasing an additional 286 shares in the last quarter. 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.