Installed Building Products (NYSE:IBP) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Installed Building Products (NYSE:IBP) from a hold rating to a buy rating in a report issued on Wednesday morning.

IBP has been the subject of several other research reports. DA Davidson reduced their price target on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Seaport Res Ptn downgraded shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Evercore ISI cut Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their price objective for the company from $238.00 to $206.00 in a research note on Monday. Jefferies Financial Group increased their target price on Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised 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 report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $247.10.

Installed Building Products Trading Down 5.0 %

NYSE IBP opened at $182.55 on Wednesday. The stock has a market capitalization of $5.14 billion, a P/E ratio of 20.28 and a beta of 1.93. Installed Building Products has a one year low of $168.08 and a one year high of $281.04. The business has a 50 day simple moving average of $220.84 and a 200 day simple moving average of $222.45. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Friday, December 13th. Installed Building Products’s dividend payout ratio is currently 15.56%.

Institutional Investors Weigh In On Installed Building Products

Several institutional investors and hedge funds have recently made changes to their positions in IBP. FMR LLC boosted its holdings in Installed Building Products by 61.5% in the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after purchasing an additional 367,628 shares during the last quarter. Summit Partners Public Asset Management LLC purchased a new position in shares of Installed Building Products during the 3rd quarter worth $54,499,000. Wellington Management Group LLP bought a new stake in shares of Installed Building Products during the 3rd quarter valued at $34,635,000. Millennium Management LLC raised its stake in shares of Installed Building Products by 395.3% in the second quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock worth $29,446,000 after buying an additional 114,259 shares during the period. Finally, State Street Corp lifted its holdings in Installed Building Products by 8.4% during the third quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock valued at $307,472,000 after purchasing an additional 96,780 shares in the last quarter. 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.