Installed Building Products (NYSE:IBP) Rating Lowered to “Hold” at StockNews.com

StockNews.com cut shares of Installed Building Products (NYSE:IBP) from a buy rating to a hold rating in a report published on Thursday morning.

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Seaport Res Ptn lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. The Goldman Sachs Group reduced their target price on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a report on Tuesday. Evercore ISI cut shares of Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their price target for the company from $238.00 to $206.00 in a report on Monday, December 16th. Finally, DA Davidson reduced their price objective on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Installed Building Products currently has a consensus rating of “Hold” and an average target price of $240.40.

Installed Building Products Stock Performance

Shares of IBP stock opened at $199.20 on Thursday. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 22.13 and a beta of 1.98. Installed Building Products has a 52-week low of $169.02 and a 52-week high of $281.04. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The company’s 50 day moving average is $197.66 and its 200 day moving average is $217.91.

Installed Building Products Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IBP. FMR LLC lifted its stake in shares of Installed Building Products by 61.5% during the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after buying an additional 367,628 shares during the period. Summit Partners Public Asset Management LLC purchased a new position in Installed Building Products in the 3rd quarter worth $54,499,000. Wellington Management Group LLP purchased a new position in Installed Building Products in the 3rd quarter worth $34,635,000. Millennium Management LLC lifted its position in Installed Building Products by 395.3% during the 2nd quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock worth $29,446,000 after acquiring an additional 114,259 shares during the period. Finally, State Street Corp grew its stake in Installed Building Products by 8.4% during the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock valued at $307,472,000 after purchasing an additional 96,780 shares during the last quarter. 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.