StockNews.com Downgrades Installed Building Products (NYSE:IBP) to Hold

StockNews.com lowered shares of Installed Building Products (NYSE:IBP) from a buy rating to a hold rating in a research note released on Saturday morning.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group dropped their price target on Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Evercore ISI cut shares of Installed Building Products from an “outperform” rating to an “underperform” rating and decreased their target price for the company from $238.00 to $206.00 in a research report on Monday, December 16th. DA Davidson reduced their price objective on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. JPMorgan Chase & Co. increased their price objective on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and lowered their target price for the company from $203.00 to $197.00 in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and a consensus target price of $240.40.

Installed Building Products Stock Performance

Shares of Installed Building Products stock opened at $187.61 on Friday. The business has a 50 day moving average price of $196.10 and a 200-day moving average price of $216.83. Installed Building Products has a 52 week low of $169.02 and a 52 week high of $281.04. The company has a market cap of $5.28 billion, a PE ratio of 20.85 and a beta of 1.99. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th were paid a $0.35 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.75%. Installed Building Products’s dividend payout ratio is presently 15.56%.

Institutional Trading of Installed Building Products

A number of large investors have recently modified their holdings of IBP. Teachers Retirement System of The State of Kentucky increased its position in Installed Building Products by 121.1% during 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 period. Summit Partners Public Asset Management LLC purchased a new stake in shares of Installed Building Products in the 3rd quarter valued at about $54,499,000. Creative Planning increased 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 purchasing an additional 2,187 shares during the last quarter. Natixis Advisors LLC grew its position in shares of Installed Building Products by 6.4% in the 3rd quarter. Natixis Advisors LLC now owns 74,252 shares of the construction company’s stock worth $18,286,000 after buying an additional 4,451 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in shares of Installed Building Products by 54.0% in the 3rd quarter. Citigroup Inc. now owns 47,235 shares of the construction company’s stock valued at $11,633,000 after purchasing an additional 16,569 shares during the period. 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.