Installed Building Products, Inc. (NYSE:IBP) Given Average Recommendation of “Hold” by Analysts

Shares of Installed Building Products, Inc. (NYSE:IBP) have earned a consensus rating of “Hold” from the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $219.40.

Several equities analysts have recently commented on the stock. Seaport Res Ptn cut shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Truist Financial reduced their price target on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a research report on Monday, March 3rd. Evercore ISI cut shares of Installed Building Products from an “outperform” rating to an “underperform” rating and cut their target price for the stock from $238.00 to $206.00 in a report on Monday, December 16th. The Goldman Sachs Group cut their target price on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd.

Institutional Investors Weigh In On Installed Building Products

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Installed Building Products by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 2,636,803 shares of the construction company’s stock valued at $462,100,000 after buying an additional 16,597 shares during the last quarter. State Street Corp increased its stake in shares of Installed Building Products by 8.4% during the third quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock valued at $307,472,000 after acquiring an additional 96,780 shares during the period. FIL Ltd increased its stake in shares of Installed Building Products by 14.0% during the fourth quarter. FIL Ltd now owns 1,039,038 shares of the construction company’s stock valued at $182,091,000 after acquiring an additional 127,215 shares during the period. FMR LLC increased 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 valued at $237,786,000 after acquiring an additional 367,628 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Installed Building Products by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 633,556 shares of the construction company’s stock valued at $111,053,000 after acquiring an additional 10,553 shares during the period. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Performance

Shares of IBP stock opened at $171.64 on Monday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. Installed Building Products has a one year low of $159.77 and a one year high of $281.04. The company’s 50-day simple moving average is $182.38 and its 200-day simple moving average is $205.35. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 19.07 and a beta of 2.05.

Installed Building Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s payout ratio is 16.26%.

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.