Installed Building Products (NYSE:IBP) Trading 7.2% Higher – Still a Buy?

Installed Building Products, Inc. (NYSE:IBP) 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.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IBP shares. DA Davidson cut their price objective on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and cut their price target for the company from $203.00 to $197.00 in a report on Friday, November 8th. JPMorgan Chase & Co. upped their price objective 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. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a report on Wednesday, December 18th. Finally, Seaport Res Ptn lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $240.40.

Installed Building Products Trading Up 7.4 %

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 firm has a fifty day simple moving average of $199.59 and a 200-day simple moving average of $218.34. The firm has a market cap of $5.29 billion, a P/E ratio of 20.88 and a beta of 1.98.

Installed Building Products Announces Dividend

The firm 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. The ex-dividend date was Friday, December 13th. This represents a $1.40 annualized dividend and a yield of 0.74%. Installed Building Products’s payout ratio is 15.56%.

Hedge Funds Weigh In On Installed Building Products

Hedge funds have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Installed Building Products by 121.1% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 16,094 shares of the construction company’s stock worth $3,963,000 after buying an additional 8,815 shares during the last quarter. Summit Partners Public Asset Management LLC purchased a new position in Installed Building Products in the third quarter valued at about $54,499,000. Creative Planning grew its position in shares of Installed Building Products by 39.6% during the 3rd quarter. Creative Planning now owns 7,712 shares of the construction company’s stock valued at $1,899,000 after acquiring an additional 2,187 shares during the period. Natixis Advisors LLC grew its position in shares of Installed Building Products by 6.4% during the 3rd quarter. Natixis Advisors LLC now owns 74,252 shares of the construction company’s stock valued at $18,286,000 after acquiring an additional 4,451 shares during the period. Finally, Citigroup Inc. increased its stake in shares of Installed Building Products by 54.0% during the 3rd quarter. Citigroup Inc. now owns 47,235 shares of the construction company’s stock worth $11,633,000 after purchasing an additional 16,569 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other 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.