Installed Building Products (NYSE:IBP) Lowered to Hold Rating by StockNews.com

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

A number of other research analysts have also recently issued reports on IBP. The Goldman Sachs Group lifted their price objective on Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Truist Financial lifted their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Stephens reiterated an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a report on Monday, August 5th. Evercore ISI boosted their price objective on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Royal Bank of Canada lifted their target price on Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Installed Building Products currently has an average rating of “Hold” and a consensus target price of $252.30.

Installed Building Products Stock Down 3.1 %

Shares of IBP traded down $6.78 on Thursday, reaching $210.49. The stock had a trading volume of 248,022 shares, compared to its average volume of 292,277. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 23.83 and a beta of 1.95. The company has a 50-day simple moving average of $231.34 and a 200-day simple moving average of $225.41. Installed Building Products has a 12-month low of $121.83 and a 12-month high of $281.04. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.59 and a current ratio of 3.08.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, November 7th. The construction company reported $2.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.86 by ($0.13). The business had revenue of $760.60 million for the quarter, compared to analysts’ expectations of $757.91 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. Sell-side analysts predict that Installed Building Products will post 11 EPS for the current year.

Installed Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 annualized dividend and a dividend yield of 0.67%. Installed Building Products’s dividend payout ratio (DPR) is 15.62%.

Institutional Trading of Installed Building Products

Several hedge funds have recently bought and sold shares of IBP. Swedbank AB bought a new position in shares of Installed Building Products during the 1st quarter valued at approximately $96,248,000. Price T Rowe Associates Inc. MD boosted its holdings in Installed Building Products by 1,328.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock worth $51,107,000 after buying an additional 183,696 shares during the period. Millennium Management LLC increased its stake in Installed Building Products by 395.3% in the 2nd quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock worth $29,446,000 after buying an additional 114,259 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Installed Building Products by 379.5% in the third quarter. Thrivent Financial for Lutherans now owns 93,439 shares of the construction company’s stock valued at $23,012,000 after acquiring an additional 73,952 shares in the last quarter. Finally, Leeward Investments LLC MA bought a new position in shares of Installed Building Products in the third quarter worth about $17,972,000. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Company Profile

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.