Installed Building Products (NYSE:IBP) Rating Increased to Buy at StockNews.com

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

Several other equities analysts also recently issued reports on the stock. Jefferies Financial Group upped their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Stephens reiterated an “equal weight” rating and set a $240.00 target price on shares of Installed Building Products in a research report on Monday, August 5th. Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their target price for the stock from $203.00 to $197.00 in a research report on Friday, November 8th. Truist Financial upped their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Finally, Evercore ISI boosted their price target 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $252.30.

Installed Building Products Price Performance

Shares of NYSE IBP traded down $7.96 during trading on Friday, reaching $200.02. The company had a trading volume of 354,601 shares, compared to its average volume of 294,969. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $5.63 billion, a PE ratio of 22.21 and a beta of 1.95. Installed Building Products has a twelve month low of $138.37 and a twelve month high of $281.04. The stock has a 50-day moving average price of $230.77 and a two-hundred day moving average price of $224.23.

Installed Building Products Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 annualized dividend and a dividend yield of 0.70%. Installed Building Products’s dividend payout ratio is 15.56%.

Institutional Trading of Installed Building Products

Several large investors have recently made changes to their positions in IBP. Geode Capital Management LLC lifted its position in shares of Installed Building Products by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock worth $153,452,000 after purchasing an additional 23,179 shares during the last quarter. Barclays PLC boosted its holdings in Installed Building Products by 61.9% in the 3rd quarter. Barclays PLC now owns 97,711 shares of the construction company’s stock valued at $24,063,000 after purchasing an additional 37,347 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of Installed Building Products by 366.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 854 shares of the construction company’s stock worth $210,000 after purchasing an additional 671 shares during the period. MML Investors Services LLC grew its position in Installed Building Products by 6.4% during the third quarter. MML Investors Services LLC now owns 9,053 shares of the construction company’s stock worth $2,229,000 after buying an additional 544 shares in the last quarter. Finally, Pier Capital LLC lifted its position in shares of Installed Building Products by 25.2% in the 3rd quarter. Pier Capital LLC now owns 36,135 shares of the construction company’s stock worth $8,899,000 after acquiring an additional 7,280 shares during the period. 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.