Installed Building Products (NYSE:IBP) Trading 7.2% Higher – Here’s What Happened

Installed Building Products, Inc. (NYSE:IBP)’s stock price traded up 7.2% during trading on Tuesday . The stock traded as high as $187.90 and last traded at $187.61. 272,750 shares traded hands during mid-day trading, an increase of 23% from the average session volume of 222,641 shares. The stock had previously closed at $174.99.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Jefferies Financial Group lifted their price target on Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Evercore ISI lowered shares of Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their price target for the company from $238.00 to $206.00 in a research note on Monday, December 16th. Seaport Res Ptn cut shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. 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 report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $240.40.

Installed Building Products Trading Up 2.4 %

The business’s 50 day simple moving average is $197.66 and its 200 day simple moving average is $217.91. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 22.13 and a beta of 1.98.

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Sunday, December 15th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Friday, December 13th. Installed Building Products’s dividend payout ratio (DPR) is presently 15.56%.

Institutional Trading of Installed Building Products

Hedge funds have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Installed Building Products by 34.3% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,399 shares of the construction company’s stock valued at $245,000 after purchasing an additional 357 shares during the period. Radnor Capital Management LLC grew its position in Installed Building Products by 61.5% in the 4th quarter. Radnor Capital Management LLC now owns 6,138 shares of the construction company’s stock valued at $1,076,000 after buying an additional 2,338 shares during the last quarter. Park Avenue Securities LLC increased its stake in Installed Building Products by 14.3% in the 4th quarter. Park Avenue Securities LLC now owns 3,011 shares of the construction company’s stock valued at $528,000 after buying an additional 376 shares during the period. Franklin Resources Inc. raised its position in Installed Building Products by 13.0% during the 3rd quarter. Franklin Resources Inc. now owns 193,766 shares of the construction company’s stock worth $48,368,000 after buying an additional 22,367 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Installed Building Products in the 3rd quarter worth $353,000. 99.61% of the stock is 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.