JPMorgan Chase & Co. Raises Installed Building Products (NYSE:IBP) Price Target to $241.00

Installed Building Products (NYSE:IBP) had its price target boosted by JPMorgan Chase & Co. from $236.00 to $241.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

Several other equities analysts have also recently issued reports on the stock. StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their target price for the company from $203.00 to $197.00 in a research note on Friday, November 8th. Jefferies Financial Group lifted their price target 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 lifted 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 note on Friday, August 2nd. Finally, The Goldman Sachs Group boosted their target price 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $253.70.

Installed Building Products Trading Up 8.6 %

Installed Building Products stock opened at $235.83 on Friday. 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 has a 1 year low of $145.13 and a 1 year high of $281.04. The firm’s 50-day moving average is $230.72 and its 200-day moving average is $222.93. The company has a market cap of $6.64 billion, a P/E ratio of 26.01 and a beta of 1.95.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 0.59%. Installed Building Products’s dividend payout ratio is presently 15.56%.

Hedge Funds Weigh In On Installed Building Products

Hedge funds and other institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in shares of Installed Building Products in the third quarter valued at $29,000. GHP Investment Advisors Inc. grew its stake in shares of Installed Building Products by 185.7% in the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of 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 in the last quarter. CWM LLC grew its stake in shares of 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 in the last quarter. Finally, Quarry LP grew its stake in shares of Installed Building Products by 953.3% in the third quarter. Quarry LP now owns 316 shares of the construction company’s stock valued at $78,000 after buying an additional 286 shares in the last quarter. 99.61% of the stock is owned by 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.