StockNews.com Downgrades Installed Building Products (NYSE:IBP) to Hold

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

A number of other analysts have also recently weighed in on the stock. Evercore ISI cut shares of Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their target price for the company from $238.00 to $206.00 in a research note on Monday, December 16th. DA Davidson lowered 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 note on Friday. JPMorgan Chase & Co. upped their target price 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. The Goldman Sachs Group lowered their target price on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and lowered their target price for the company from $203.00 to $197.00 in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given 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 $236.90.

Installed Building Products Stock Performance

NYSE:IBP opened at $171.46 on Friday. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 19.05 and a beta of 1.99. The firm’s 50-day moving average is $183.34 and its 200-day moving average is $208.92. Installed Building Products has a 52-week low of $162.20 and a 52-week high of $281.04. 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 0.86%. Installed Building Products’s payout ratio is 15.56%.

Hedge Funds Weigh In On Installed Building Products

A number of large investors have recently modified their holdings of the stock. Arizona State Retirement System lifted its position in shares of Installed Building Products by 0.8% during the fourth quarter. Arizona State Retirement System now owns 6,966 shares of the construction company’s stock worth $1,221,000 after purchasing an additional 56 shares in the last quarter. McIlrath & Eck LLC lifted its position in shares of Installed Building Products by 32.3% during the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock worth $44,000 after purchasing an additional 61 shares in the last quarter. Dana Investment Advisors Inc. lifted its position in shares of Installed Building Products by 0.9% during the fourth quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company’s stock worth $1,363,000 after purchasing an additional 71 shares in the last quarter. State of Wyoming lifted its position in shares of Installed Building Products by 10.1% during the fourth quarter. State of Wyoming now owns 840 shares of the construction company’s stock worth $147,000 after purchasing an additional 77 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its position in shares of Installed Building Products by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,507 shares of the construction company’s stock worth $439,000 after purchasing an additional 79 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

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.