Installed Building Products (NYSE:IBP) Sets New 1-Year Low – What’s Next?

Installed Building Products, Inc. (NYSE:IBP) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $169.02 and last traded at $170.32, with a volume of 15331 shares trading hands. The stock had previously closed at $173.83.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. DA Davidson reduced their price target on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday, November 8th. Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price target for the company from $203.00 to $197.00 in a research note on Friday, November 8th. JPMorgan Chase & Co. upped their price objective on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Seaport Res Ptn lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Finally, Evercore ISI downgraded Installed Building Products from an “outperform” rating to an “underperform” rating and reduced their price target for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $247.10.

Installed Building Products Stock Down 1.5 %

The company has a market cap of $4.88 billion, a price-to-earnings ratio of 19.27 and a beta of 1.98. The firm has a 50-day moving average price of $201.41 and a 200 day moving average price of $218.42. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Sunday, December 15th were paid a $0.35 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.40 annualized dividend and a dividend yield of 0.81%. Installed Building Products’s dividend payout ratio (DPR) is presently 15.56%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Xponance Inc. grew its position in Installed Building Products by 5.3% in the second quarter. Xponance Inc. now owns 1,519 shares of the construction company’s stock valued at $312,000 after acquiring an additional 76 shares during the last quarter. GHP Investment Advisors Inc. grew its holdings 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 purchasing an additional 78 shares during the last quarter. NBC Securities Inc. increased its position in Installed Building Products by 6.4% during the 3rd quarter. NBC Securities Inc. now owns 1,784 shares of the construction company’s stock worth $439,000 after purchasing an additional 108 shares in the last quarter. Arizona State Retirement System increased its position in Installed Building Products by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 6,750 shares of the construction company’s stock worth $1,388,000 after purchasing an additional 114 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new position in Installed Building Products in the 3rd quarter valued at approximately $29,000. 99.61% of the stock is owned by institutional investors.

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.