Installed Building Products (NYSE:IBP) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Installed Building Products (NYSE:IBP) from a buy rating to a hold rating in a report published on Thursday morning.

A number of other equities analysts also recently weighed in on IBP. Stephens reissued an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a research report on Monday, August 5th. Jefferies Financial Group increased their price target on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Evercore ISI lifted their price objective on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Royal Bank of Canada increased their price objective on shares of Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Finally, Truist Financial lifted their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $252.30.

Installed Building Products Trading Down 3.2 %

NYSE IBP opened at $210.26 on Thursday. Installed Building Products has a 12 month low of $121.83 and a 12 month high of $281.04. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.24. The stock has a 50 day moving average of $231.09 and a 200-day moving average of $225.23. The company has a market cap of $5.94 billion, a PE ratio of 23.47 and a beta of 1.95.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Thursday, November 7th. The construction company reported $2.73 EPS for the quarter, missing analysts’ consensus estimates of $2.86 by ($0.13). The firm had revenue of $760.60 million during the quarter, compared to the consensus estimate of $757.91 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. On average, equities research analysts anticipate that Installed Building Products will post 11 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.67%. Installed Building Products’s payout ratio is presently 15.63%.

Institutional Investors Weigh In On Installed Building Products

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Intech Investment Management LLC grew its position in Installed Building Products by 496.2% during the third quarter. Intech Investment Management LLC now owns 16,850 shares of the construction company’s stock worth $4,150,000 after buying an additional 14,024 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Installed Building Products by 152.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after acquiring an additional 140 shares during the period. Global Alpha Capital Management Ltd. grew its holdings in shares of Installed Building Products by 1.6% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 65,299 shares of the construction company’s stock worth $16,081,000 after purchasing an additional 1,000 shares in the last quarter. Segall Bryant & Hamill LLC raised its stake in Installed Building Products by 149.3% in the third quarter. Segall Bryant & Hamill LLC now owns 81,075 shares of the construction company’s stock valued at $19,966,000 after purchasing an additional 48,559 shares in the last quarter. Finally, Premier Fund Managers Ltd lifted its position in Installed Building Products by 41.6% during the third quarter. Premier Fund Managers Ltd now owns 80,108 shares of the construction company’s stock worth $20,051,000 after purchasing an additional 23,532 shares during the period. 99.61% of the stock is currently owned by institutional investors and hedge funds.

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.