Installed Building Products (NYSE:IBP) Given New $180.00 Price Target at Truist Financial

Installed Building Products (NYSE:IBP) had its price target lowered by Truist Financial from $240.00 to $180.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a hold rating on the construction company’s stock.

Several other equities analysts have also commented on IBP. JPMorgan Chase & Co. raised their target price 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. 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. StockNews.com downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Benchmark cut their target price on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday. Finally, DA Davidson cut their target price on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $219.40.

Installed Building Products Price Performance

NYSE:IBP opened at $172.54 on Monday. Installed Building Products has a 52 week low of $159.76 and a 52 week high of $281.04. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 19.17 and a beta of 1.99. The firm’s 50-day simple moving average is $182.58 and its 200 day simple moving average is $207.74. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99.

Installed Building Products Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 0.86%. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, March 14th. Installed Building Products’s payout ratio is currently 16.26%.

Hedge Funds Weigh In On Installed Building Products

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Installed Building Products by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 2,636,803 shares of the construction company’s stock worth $462,100,000 after acquiring an additional 16,597 shares during the last quarter. State Street Corp boosted its holdings in shares of Installed Building Products by 8.4% in the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock worth $307,472,000 after buying an additional 96,780 shares during the last quarter. FIL Ltd boosted its holdings in shares of Installed Building Products by 14.0% in the 4th quarter. FIL Ltd now owns 1,039,038 shares of the construction company’s stock worth $182,091,000 after buying an additional 127,215 shares during the last quarter. FMR LLC boosted its holdings in shares of Installed Building Products by 61.5% in the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after buying an additional 367,628 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings 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 worth $111,053,000 after buying an additional 10,553 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

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.