Installed Building Products (NYSE:IBP) Sets New 52-Week Low – Here’s What Happened

Installed Building Products, Inc. (NYSE:IBP) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $169.02 and last traded at $170.32, with a volume of 15331 shares traded. The stock had previously closed at $173.83.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday, December 18th. Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their target price for the company from $203.00 to $197.00 in a research note on Friday, November 8th. Seaport Res Ptn downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. DA Davidson reduced their price objective on 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. Finally, Jefferies Financial Group boosted their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Two investment 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 an average rating of “Hold” and an average target price of $247.10.

Installed Building Products Stock Down 1.5 %

The company has a market capitalization of $4.88 billion, a P/E ratio of 19.27 and a beta of 1.98. The business’s fifty day moving average price is $201.41 and its 200 day moving average price is $218.42. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend was Friday, December 13th. Installed Building Products’s dividend payout ratio (DPR) is 15.56%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Xponance Inc. increased its holdings in Installed Building Products by 5.3% in the second quarter. Xponance Inc. now owns 1,519 shares of the construction company’s stock valued at $312,000 after purchasing an additional 76 shares during the last quarter. GHP Investment Advisors Inc. raised its position in shares of Installed Building Products by 185.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after acquiring an additional 78 shares during the period. NBC Securities Inc. boosted its stake in Installed Building Products by 6.4% during the 3rd quarter. NBC Securities Inc. now owns 1,784 shares of the construction company’s stock worth $439,000 after acquiring an additional 108 shares during the last quarter. Arizona State Retirement System grew its holdings in Installed Building Products by 1.7% during the second quarter. Arizona State Retirement System now owns 6,750 shares of the construction company’s stock valued at $1,388,000 after purchasing an additional 114 shares during the period. Finally, V Square Quantitative Management LLC bought a new stake in Installed Building Products in the third quarter valued at approximately $29,000. 99.61% of the stock is owned by institutional investors.

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.