Installed Building Products, Inc. (NYSE:IBP) Receives Average Recommendation of “Hold” from Analysts

Installed Building Products, Inc. (NYSE:IBP) has earned an average rating of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $219.40.

A number of analysts recently issued reports on the company. StockNews.com lowered Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Truist Financial reduced their price objective on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a research note on Monday, March 3rd. Evercore ISI downgraded shares of Installed Building Products from an “outperform” rating to an “underperform” rating and reduced their price objective for the stock from $238.00 to $206.00 in a research note on Monday, December 16th. 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 note on Tuesday, January 14th. Finally, Seaport Res Ptn downgraded shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th.

Hedge Funds Weigh In On Installed Building Products

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased 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 worth $462,100,000 after purchasing an additional 16,597 shares in the last quarter. State Street Corp increased its position in shares of 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 purchasing an additional 96,780 shares in the last quarter. FIL Ltd increased its position in shares of 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 purchasing an additional 127,215 shares in the last quarter. 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% in the 4th quarter. Geode Capital Management LLC now owns 633,556 shares of the construction company’s stock valued at $111,053,000 after acquiring an additional 10,553 shares during the period. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Stock Up 1.9 %

Shares of NYSE IBP opened at $177.19 on Monday. 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 firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 19.69 and a beta of 2.05. The stock has a 50 day moving average price of $182.58 and a 200 day moving average price of $207.18. Installed Building Products has a 52-week low of $159.76 and a 52-week high of $281.04.

Installed Building Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.84%. Installed Building Products’s dividend payout ratio is presently 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.