Installed Building Products (NYSE:IBP) Reaches New 1-Year Low After Analyst Downgrade

Installed Building Products, Inc. (NYSE:IBP) shares reached a new 52-week low on Monday after Truist Financial lowered their price target on the stock from $240.00 to $180.00. Truist Financial currently has a hold rating on the stock. Installed Building Products traded as low as $161.64 and last traded at $162.51, with a volume of 303375 shares traded. The stock had previously closed at $171.40.

Several other equities analysts have also weighed in on the stock. The Goldman Sachs Group reduced their price objective on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and lowered their target price for the company from $203.00 to $197.00 in a research note on Friday, November 8th. Seaport Res Ptn lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. StockNews.com downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday. Finally, DA Davidson dropped their price target on Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Installed Building Products currently has a consensus rating of “Hold” and an average target price of $224.90.

Hedge Funds Weigh In On Installed Building Products

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new position in Installed Building Products during the 3rd quarter worth about $414,000. Nisa Investment Advisors LLC boosted its stake in Installed Building Products by 6.0% during the third quarter. Nisa Investment Advisors LLC now owns 3,577 shares of the construction company’s stock worth $881,000 after acquiring an additional 201 shares in the last quarter. US Bancorp DE boosted its position in shares of Installed Building Products by 148.4% during the 3rd quarter. US Bancorp DE now owns 2,809 shares of the construction company’s stock worth $692,000 after purchasing an additional 1,678 shares in the last quarter. New York State Common Retirement Fund grew its stake in Installed Building Products by 29.3% in the third quarter. New York State Common Retirement Fund now owns 92,077 shares of the construction company’s stock valued at $22,676,000 after acquiring an additional 20,860 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in Installed Building Products by 9.9% in the third quarter. Farther Finance Advisors LLC now owns 1,782 shares of the construction company’s stock valued at $439,000 after acquiring an additional 160 shares during the period. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Price Performance

The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 18.06 and a beta of 1.99. The business’s fifty day moving average price is $183.20 and its 200-day moving average price is $208.62.

Installed Building Products Increases Dividend

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

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.