Installed Building Products (NYSE:IBP) Lowered to Underperform Rating by Evercore ISI

Evercore ISI cut shares of Installed Building Products (NYSE:IBP) from an outperform rating to an underperform rating in a research report sent to investors on Monday, MarketBeat.com reports. They currently have $206.00 price target on the construction company’s stock, down from their previous price target of $238.00.

Several other analysts also recently issued reports on IBP. JPMorgan Chase & Co. upped their price target on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Jefferies Financial Group lifted their price target on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. DA Davidson cut their price target on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Royal Bank of Canada lowered Installed Building Products from a “sector perform” rating to an “underperform” rating and cut their price objective for the company from $203.00 to $197.00 in a research report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $247.10.

Installed Building Products Trading Down 5.0 %

Shares of IBP opened at $182.55 on Monday. Installed Building Products has a twelve month low of $168.08 and a twelve month high of $281.04. The firm has a market capitalization of $5.14 billion, a P/E ratio of 20.28 and a beta of 1.93. The firm’s 50-day moving average is $221.99 and its two-hundred day moving average is $222.73. 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s payout ratio is currently 15.56%.

Hedge Funds Weigh In On Installed Building Products

A number of hedge funds have recently added to or reduced their stakes in IBP. V Square Quantitative Management LLC bought a new position in shares of Installed Building Products during the third quarter valued at approximately $29,000. GHP Investment Advisors Inc. lifted its position in shares of Installed Building Products by 185.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. CWM LLC boosted its position in shares of Installed Building Products by 32.1% in the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after purchasing an additional 62 shares during the period. Advisors Asset Management Inc. boosted its holdings 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 worth $57,000 after buying an additional 140 shares during the period. Finally, Quarry LP boosted its stake in Installed Building Products by 953.3% in the 3rd quarter. Quarry LP now owns 316 shares of the construction company’s stock worth $78,000 after purchasing an additional 286 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

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.