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

Installed Building Products (NYSE:IBP) had its price objective cut by Truist Financial from $240.00 to $180.00 in a report published on Monday,Benzinga reports. They currently have a hold rating on the construction company’s stock.

IBP has been the subject of several other research reports. Evercore ISI downgraded shares of Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their target price for the company from $238.00 to $206.00 in a research note on Monday, December 16th. 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. DA Davidson lowered their target price on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Benchmark lowered their target price 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. Finally, JPMorgan Chase & Co. upped their price target on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Installed Building Products presently has a consensus rating of “Hold” and a consensus price target of $219.40.

Installed Building Products Trading Up 3.8 %

IBP opened at $172.54 on Monday. 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 company has a market cap of $4.86 billion, a price-to-earnings ratio of 19.17 and a beta of 1.99. The firm has a 50 day simple moving average of $182.58 and a 200 day simple moving average of $207.74. Installed Building Products has a fifty-two week low of $159.76 and a fifty-two week high of $281.04.

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 issued 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 0.86%. Installed Building Products’s dividend payout ratio is presently 16.26%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky boosted its holdings in Installed Building Products by 121.1% during the third 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 during the last quarter. Summit Partners Public Asset Management LLC acquired a new stake in Installed Building Products in the third quarter valued at $54,499,000. Natixis Advisors LLC lifted its stake in Installed Building Products by 6.4% in the third quarter. Natixis Advisors LLC now owns 74,252 shares of the construction company’s stock valued at $18,286,000 after acquiring an additional 4,451 shares during the last quarter. Citigroup Inc. lifted its stake in Installed Building Products by 54.0% in the third quarter. Citigroup Inc. now owns 47,235 shares of the construction company’s stock valued at $11,633,000 after acquiring an additional 16,569 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Installed Building Products by 3.9% in the third quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock valued at $153,452,000 after acquiring an additional 23,179 shares during 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.