Installed Building Products (NYSE:IBP) Shares Gap Up – Here’s Why

Installed Building Products, Inc. (NYSE:IBP)’s share price 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 changing hands.

Analyst Ratings Changes

A number of research firms have commented on IBP. JPMorgan Chase & Co. raised their target price on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a report on Wednesday, December 18th. Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their target price for the company from $203.00 to $197.00 in a report on Friday, November 8th. DA Davidson reduced their target price on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, Jefferies Financial Group raised their price target on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Installed Building Products presently has an average rating of “Hold” and a consensus price target of $240.40.

Installed Building Products Trading Up 4.2 %

The stock has a market cap of $5.50 billion, a PE ratio of 21.71 and a beta of 1.98. The business has a 50-day moving average of $198.69 and a 200 day moving average of $218.21. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Sunday, December 15th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Friday, December 13th. Installed Building Products’s dividend payout ratio is presently 15.56%.

Institutional Trading of Installed Building Products

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Xponance Inc. increased its position in Installed Building Products by 5.3% during the 2nd quarter. Xponance Inc. now owns 1,519 shares of the construction company’s stock worth $312,000 after purchasing an additional 76 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in Installed Building Products by 185.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock worth $30,000 after buying an additional 78 shares during the last quarter. NBC Securities Inc. boosted its stake in Installed Building Products by 6.4% in the 3rd quarter. NBC Securities Inc. now owns 1,784 shares of the construction company’s stock worth $439,000 after buying an additional 108 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Installed Building Products in the 3rd quarter worth about $29,000. Finally, Truist Financial Corp boosted its stake in Installed Building Products by 0.8% in the 2nd quarter. Truist Financial Corp now owns 16,084 shares of the construction company’s stock worth $3,308,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

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.