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

StockNews.com downgraded shares of Installed Building Products (NYSE:IBP) from a buy rating to a hold rating in a research report report published on Friday.

A number of other analysts also recently commented on IBP. Jefferies Financial Group boosted their target price on shares of Installed Building Products from $239.00 to $250.00 and gave the stock a hold rating in a report on Wednesday, July 17th. Benchmark boosted their target price on shares of Installed Building Products from $250.00 to $270.00 and gave the stock a buy rating in a report on Tuesday, May 14th. Royal Bank of Canada boosted their target price on shares of Installed Building Products from $201.00 to $203.00 and gave the stock a sector perform rating in a report on Friday, August 2nd. Truist Financial boosted their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the company a hold rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group boosted their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the company a buy rating in a report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $255.20.

Installed Building Products Trading Down 0.3 %

Shares of NYSE:IBP opened at $204.52 on Friday. The company has a 50 day moving average of $224.07 and a 200-day moving average of $227.68. The firm has a market cap of $5.82 billion, a P/E ratio of 23.14 and a beta of 1.93. Installed Building Products has a twelve month low of $106.01 and a twelve month high of $281.04. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.24.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.13. The company had revenue of $737.60 million during the quarter, compared to analyst estimates of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. As a group, analysts anticipate that Installed Building Products will post 11.14 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Sunday, September 15th will be paid a $0.35 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.40 annualized dividend and a yield of 0.68%. Installed Building Products’s dividend payout ratio is presently 15.84%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. NBC Securities Inc. bought a new stake in Installed Building Products in the fourth quarter worth approximately $25,000. Russell Investments Group Ltd. grew its position in Installed Building Products by 280.6% in the fourth quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock worth $25,000 after acquiring an additional 101 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Installed Building Products in the first quarter worth approximately $29,000. Benjamin F. Edwards & Company Inc. bought a new stake in Installed Building Products in the fourth quarter worth approximately $32,000. Finally, Quarry LP grew its position in Installed Building Products by 37.5% in the fourth quarter. Quarry LP now owns 209 shares of the construction company’s stock worth $38,000 after acquiring an additional 57 shares in 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.