Installed Building Products (NYSE:IBP) Stock Price Up 9.4% on Analyst Upgrade

Installed Building Products, Inc. (NYSE:IBP) shares rose 9.4% during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $236.00 to $241.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Installed Building Products traded as high as $238.04 and last traded at $237.59. Approximately 161,547 shares traded hands during trading, a decline of 45% from the average daily volume of 293,768 shares. The stock had previously closed at $217.09.

Several other equities research analysts have also recently weighed in on IBP. DA Davidson dropped their price objective on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday, November 8th. Stephens reiterated an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a report on Monday, August 5th. Jefferies Financial Group upped their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. The Goldman Sachs Group raised their target price on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, 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 research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $253.70.

Institutional Trading of Installed Building Products

Several hedge funds and other institutional investors have recently made changes to their positions in IBP. V Square Quantitative Management LLC bought a new position in Installed Building Products in the 3rd quarter worth about $29,000. GHP Investment Advisors Inc. grew 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 valued at $30,000 after buying an additional 78 shares during the last quarter. CWM LLC increased its position in shares of Installed Building Products by 32.1% during the second quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after acquiring an additional 62 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Installed Building Products by 152.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after acquiring an additional 140 shares during the last quarter. Finally, Quarry LP lifted its position in Installed Building Products by 953.3% in the 3rd quarter. Quarry LP now owns 316 shares of the construction company’s stock valued at $78,000 after acquiring an additional 286 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Down 4.4 %

The firm has a market capitalization of $6.34 billion, a PE ratio of 25.05 and a beta of 1.95. The firm has a 50 day simple moving average of $230.91 and a 200 day simple moving average of $222.92. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18.

Installed Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be issued a $0.35 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.40 annualized dividend and a yield of 0.62%. Installed Building Products’s payout ratio is 15.56%.

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.