Installed Building Products (NYSE:IBP) Reaches New 12-Month Low on Analyst Downgrade

Installed Building Products, Inc. (NYSE:IBP) reached a new 52-week low during trading on Monday after Truist Financial lowered their price target on the stock from $240.00 to $180.00. Truist Financial currently has a hold rating on the stock. Installed Building Products traded as low as $161.64 and last traded at $162.51, with a volume of 303375 shares trading hands. The stock had previously closed at $171.40.

A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. lifted their price objective 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. Seaport Res Ptn lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. The Goldman Sachs Group dropped their price objective on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Benchmark lowered their target price on Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a report on Monday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Installed Building Products presently has an average rating of “Hold” and an average price target of $224.90.

Hedge Funds Weigh In On Installed Building Products

Hedge funds and other institutional investors have recently made changes to their positions in the business. Arizona State Retirement System raised its stake in Installed Building Products by 0.8% during the 4th quarter. Arizona State Retirement System now owns 6,966 shares of the construction company’s stock valued at $1,221,000 after acquiring an additional 56 shares in the last quarter. McIlrath & Eck LLC raised its stake in shares of Installed Building Products by 32.3% during the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock valued at $44,000 after purchasing an additional 61 shares in the last quarter. Dana Investment Advisors Inc. raised its stake in shares of Installed Building Products by 0.9% during the fourth quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company’s stock valued at $1,363,000 after purchasing an additional 71 shares in the last quarter. State of Wyoming lifted its holdings in Installed Building Products by 10.1% in the fourth quarter. State of Wyoming now owns 840 shares of the construction company’s stock worth $147,000 after purchasing an additional 77 shares during the period. Finally, Summit Investment Advisors Inc. grew its position in Installed Building Products by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,507 shares of the construction company’s stock valued at $439,000 after buying an additional 79 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Stock Performance

The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 18.06 and a beta of 1.99. The company’s 50 day simple moving average is $183.20 and its 200 day simple moving average is $208.62. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.37 per share. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 0.91%. Installed Building Products’s payout ratio is presently 16.26%.

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.