Installed Building Products, Inc. (NYSE:IBP) Short Interest Update

Installed Building Products, Inc. (NYSE:IBP) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 1,670,000 shares, a decline of 7.7% from the October 15th total of 1,810,000 shares. Based on an average daily volume of 273,300 shares, the short-interest ratio is currently 6.1 days. Currently, 7.1% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

IBP has been the topic of a number of recent research reports. Stephens reissued 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. Jefferies Financial Group raised their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Truist Financial boosted their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, August 2nd. The Goldman Sachs Group increased their price objective on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, 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 research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $252.30.

Installed Building Products Stock Up 0.9 %

Installed Building Products stock opened at $206.95 on Wednesday. Installed Building Products has a 1-year low of $141.14 and a 1-year high of $281.04. The business has a fifty day moving average price of $230.78 and a 200-day moving average price of $223.76. 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 stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 22.99 and a beta of 1.95.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.68%. Installed Building Products’s payout ratio is 15.56%.

Hedge Funds Weigh In On Installed Building Products

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new position in Installed Building Products in the 1st quarter worth $29,000. V Square Quantitative Management LLC purchased a new position in shares of Installed Building Products in the third quarter worth about $29,000. GHP Investment Advisors Inc. lifted its holdings in shares of Installed Building Products by 185.7% during the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock worth $30,000 after purchasing an additional 78 shares during the period. Advisors Asset Management Inc. boosted its position in Installed Building Products by 152.2% in the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after buying an additional 140 shares during the last quarter. Finally, CWM LLC boosted its position in Installed Building Products by 32.1% in the second quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after buying an additional 62 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

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.