Installed Building Products (NYSE:IBP) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Installed Building Products (NYSE:IBP) from a buy rating to a hold rating in a research report released on Tuesday.

Other research analysts have also recently issued reports about the stock. Stephens reiterated an “equal weight” rating and issued a $240.00 target price on shares of Installed Building Products in a research note on Monday, August 5th. Evercore ISI boosted their target price on shares of Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Truist Financial boosted their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. DA Davidson dropped their target price on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, The Goldman Sachs Group boosted their target price 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Installed Building Products presently has a consensus rating of “Hold” and an average price target of $253.70.

Installed Building Products Trading Down 4.4 %

Shares of IBP stock opened at $225.42 on Tuesday. Installed Building Products has a 52-week low of $145.13 and a 52-week high of $281.04. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The company has a 50-day simple moving average of $230.91 and a two-hundred day simple moving average of $222.92. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of 25.05 and a beta of 1.95.

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s payout ratio is currently 15.56%.

Institutional Trading of Installed Building Products

A number of institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new stake in Installed Building Products in the 3rd quarter worth approximately $353,000. TD Private Client Wealth LLC lifted its stake in Installed Building Products by 15.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,034 shares of the construction company’s stock worth $255,000 after purchasing an additional 137 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Installed Building Products by 121.1% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 16,094 shares of the construction company’s stock worth $3,963,000 after purchasing an additional 8,815 shares in the last quarter. Coldstream Capital Management Inc. purchased a new stake in Installed Building Products in the 3rd quarter worth approximately $203,000. Finally, Geode Capital Management LLC lifted its stake in Installed Building Products by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock worth $153,452,000 after purchasing an additional 23,179 shares in the last quarter. 99.61% of the stock is currently 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.