Installed Building Products (NYSE:IBP) Hits New 1-Year Low – What’s Next?

Installed Building Products, Inc. (NYSE:IBP) hit a new 52-week low during trading on Wednesday . The stock traded as low as $169.02 and last traded at $170.32, with a volume of 15331 shares trading hands. The stock had previously closed at $173.83.

Analysts Set New Price Targets

IBP has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Evercore ISI downgraded shares of Installed Building Products from an “outperform” rating to an “underperform” rating and reduced their price target for the company from $238.00 to $206.00 in a research report on Monday, December 16th. Jefferies Financial Group lifted their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Seaport Res Ptn lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Finally, StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Installed Building Products has an average rating of “Hold” and an average target price of $247.10.

Installed Building Products Stock Performance

The firm has a 50-day simple moving average of $203.05 and a two-hundred day simple moving average of $219.02. 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 company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 19.39 and a beta of 1.98.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Sunday, December 15th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend was Friday, December 13th. Installed Building Products’s payout ratio is presently 15.56%.

Institutional Trading of Installed Building Products

Several large investors have recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Installed Building Products by 8.4% in the third quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock worth $307,472,000 after purchasing an additional 96,780 shares in the last quarter. FMR LLC boosted its stake in shares of Installed Building Products by 61.5% during the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after acquiring an additional 367,628 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 acquiring an additional 23,179 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Installed Building Products by 6.5% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 329,166 shares of the construction company’s stock valued at $81,063,000 after acquiring an additional 20,155 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Installed Building Products by 8.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 276,383 shares of the construction company’s stock worth $68,065,000 after purchasing an additional 21,942 shares during the last quarter. 99.61% of the stock is owned by 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.