Installed Building Products (NYSE:IBP) Shares Gap Up – What’s Next?

Shares of Installed Building Products, Inc. (NYSE:IBP) gapped up prior to trading on Wednesday . The stock had previously closed at $187.44, but opened at $199.65. Installed Building Products shares last traded at $197.81, with a volume of 44,243 shares.

Wall Street Analyst Weigh In

A number of research firms have commented on IBP. DA Davidson cut 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 research note on Friday, November 8th. Evercore ISI cut shares of Installed Building Products from an “outperform” rating to an “underperform” rating and cut their price target for the stock from $238.00 to $206.00 in a research note on Monday, December 16th. StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Thursday. Jefferies Financial Group boosted their price target on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and cut their price target for the stock from $203.00 to $197.00 in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Installed Building Products presently has an average rating of “Hold” and a consensus price target of $240.40.

Installed Building Products Stock Up 2.4 %

The stock’s 50 day moving average price is $197.66 and its 200-day moving average price is $217.91. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The company has a market cap of $5.61 billion, a PE ratio of 22.13 and a beta of 1.98.

Installed Building Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Sunday, December 15th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.70%. Installed Building Products’s dividend payout ratio is currently 15.56%.

Institutional Investors Weigh In On Installed Building Products

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBP. FMR LLC raised its holdings in Installed Building Products by 61.5% during the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock valued at $237,786,000 after buying an additional 367,628 shares during the last quarter. Summit Partners Public Asset Management LLC bought a new stake in Installed Building Products during the 3rd quarter valued at $54,499,000. Wellington Management Group LLP bought a new stake in Installed Building Products during the 3rd quarter valued at $34,635,000. Millennium Management LLC raised its holdings 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 valued at $29,446,000 after buying an additional 114,259 shares during the last quarter. Finally, State Street Corp raised its holdings 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 buying an additional 96,780 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors.

Installed Building Products Company Profile

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.