Installed Building Products (NYSE:IBP) Rating Increased to Buy at StockNews.com

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

A number of other equities analysts also recently weighed in on IBP. The Goldman Sachs Group boosted 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 note on Friday, August 2nd. Jefferies Financial Group boosted their target price on Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. DA Davidson decreased their price target on Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and cut their target price for the company from $203.00 to $197.00 in a research report on Friday, November 8th. Finally, Truist Financial lifted their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $252.30.

Installed Building Products Price Performance

Installed Building Products stock traded down $7.96 on Friday, reaching $200.02. The company’s stock had a trading volume of 354,601 shares, compared to its average volume of 294,969. Installed Building Products has a twelve month low of $138.37 and a twelve month high of $281.04. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 22.21 and a beta of 1.95. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The business’s fifty day moving average price is $230.77 and its 200 day moving average price is $224.23.

Installed Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s dividend payout ratio is 15.56%.

Hedge Funds Weigh In On Installed Building Products

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Installed Building Products by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock worth $683,421,000 after acquiring an additional 18,890 shares during the last quarter. Swedbank AB lifted its position in shares of Installed Building Products by 11.6% during the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock valued at $85,357,000 after acquiring an additional 43,000 shares during the period. Blue Trust Inc. increased its stake in Installed Building Products by 456.2% in the second quarter. Blue Trust Inc. now owns 3,810 shares of the construction company’s stock valued at $784,000 after purchasing an additional 3,125 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Installed Building Products by 1,328.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock worth $51,107,000 after purchasing an additional 183,696 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Installed Building Products in the 1st quarter valued at about $17,806,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

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.