Installed Building Products (NYSE:IBP) Upgraded by StockNews.com to “Buy” Rating

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

Several other research firms have also recently weighed in on IBP. 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. Evercore ISI lowered Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their target price for the company from $238.00 to $206.00 in a research note on Monday, December 16th. The Goldman Sachs Group cut their price target 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. JPMorgan Chase & Co. raised their price target on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, 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. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $240.40.

Installed Building Products Stock Performance

Installed Building Products stock opened at $205.03 on Friday. The firm’s 50 day simple moving average is $196.98 and its 200 day simple moving average is $217.95. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. Installed Building Products has a 1-year low of $169.02 and a 1-year high of $281.04. The firm has a market capitalization of $5.77 billion, a PE ratio of 22.78 and a beta of 1.98.

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.68%. The ex-dividend date was Friday, December 13th. Installed Building Products’s dividend payout ratio is presently 15.56%.

Institutional Investors Weigh In On Installed Building Products

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IBP. V Square Quantitative Management LLC bought a new position in Installed Building Products in the 3rd quarter worth $29,000. GHP Investment Advisors Inc. boosted its stake in shares of Installed Building Products by 185.7% in the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock worth $30,000 after acquiring an additional 78 shares during the period. Advisors Asset Management Inc. grew its position in shares of Installed Building Products by 152.2% during the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after purchasing an additional 140 shares in the last quarter. Quarry LP raised its stake in Installed Building Products by 953.3% during the 3rd quarter. Quarry LP now owns 316 shares of the construction company’s stock valued at $78,000 after purchasing an additional 286 shares during the period. Finally, Centaurus Financial Inc. purchased a new position in Installed Building Products in the 3rd quarter worth approximately $111,000. Institutional investors 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.