Installed Building Products (NYSE:IBP) Given New $215.00 Price Target at Loop Capital

Installed Building Products (NYSE:IBP) had its price objective trimmed by Loop Capital from $230.00 to $215.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

A number of other equities analysts also recently issued reports on the stock. Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their price target for the stock from $203.00 to $197.00 in a research note on Friday, November 8th. The Goldman Sachs Group cut 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 report on Tuesday, January 14th. Truist Financial dropped their target price on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a report on Monday. Seaport Res Ptn downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $219.40.

Installed Building Products Stock Performance

Installed Building Products stock opened at $166.18 on Tuesday. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The firm has a 50-day moving average of $182.67 and a 200-day moving average of $207.99. The firm has a market cap of $4.68 billion, a P/E ratio of 18.46 and a beta of 1.99. Installed Building Products has a 1-year low of $159.76 and a 1-year high of $281.04.

Installed Building Products Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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. This represents a $1.48 annualized dividend and a yield of 0.89%. The ex-dividend date is Friday, March 14th. Installed Building Products’s payout ratio is presently 16.26%.

Institutional Investors Weigh In On Installed Building Products

Several large investors have recently added to or reduced their stakes in IBP. Vanguard Group Inc. boosted its position in shares of Installed Building Products by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 2,636,803 shares of the construction company’s stock valued at $462,100,000 after buying an additional 16,597 shares during the period. State Street Corp lifted its holdings in Installed Building Products by 8.4% during the third quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock worth $307,472,000 after buying an additional 96,780 shares during the period. FIL Ltd lifted its holdings in Installed Building Products by 14.0% during the fourth quarter. FIL Ltd now owns 1,039,038 shares of the construction company’s stock worth $182,091,000 after buying an additional 127,215 shares during the period. FMR LLC increased its position in shares of Installed Building Products by 61.5% during the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after purchasing an additional 367,628 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Installed Building Products by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 633,556 shares of the construction company’s stock worth $111,053,000 after purchasing an additional 10,553 shares in the last quarter. 99.61% of the stock is owned by 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.