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

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

Other equities analysts also recently issued research reports about the company. Jefferies Financial Group increased their price target on Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Stephens reaffirmed an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a research report on Monday, August 5th. Evercore ISI upped their target price on Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Truist Financial boosted their price target on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada lifted their target price on shares of Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a research note 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 MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $252.30.

Installed Building Products Trading Down 3.1 %

Shares of Installed Building Products stock traded down $6.78 on Thursday, reaching $210.49. The company had a trading volume of 248,022 shares, compared to its average volume of 292,277. The firm’s 50-day moving average price is $231.34 and its two-hundred day moving average price is $225.41. Installed Building Products has a 1 year low of $121.83 and a 1 year high of $281.04. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 23.83 and a beta of 1.95. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59.

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 the consensus estimate of $757.91 million. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. As a group, research analysts predict that Installed Building Products will post 11 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

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

Institutional Trading of Installed Building Products

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IBP. Vanguard Group Inc. raised its holdings in Installed Building Products by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock worth $683,421,000 after purchasing an additional 18,890 shares during the period. Concurrent Investment Advisors LLC purchased a new position in shares of Installed Building Products during the 1st quarter valued at approximately $564,000. Swedbank AB increased its holdings in Installed Building Products by 11.6% in the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after acquiring an additional 43,000 shares in the last quarter. Blue Trust Inc. raised its position in Installed Building Products by 456.2% during the second quarter. Blue Trust Inc. now owns 3,810 shares of the construction company’s stock worth $784,000 after acquiring an additional 3,125 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Installed Building Products by 1,328.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock valued at $51,107,000 after purchasing an additional 183,696 shares in 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.