Installed Building Products (NYSE:IBP) Downgraded to Hold Rating by StockNews.com

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

IBP has been the topic of a number of other reports. 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 downgraded Installed Building Products from an “outperform” rating to an “underperform” rating and decreased their price objective for the company from $238.00 to $206.00 in a research report on Monday, December 16th. Royal Bank of Canada cut Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their target price for the stock from $203.00 to $197.00 in a report on Friday, November 8th. DA Davidson cut their target price on 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. Finally, 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 report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $240.40.

Installed Building Products Trading Up 2.4 %

IBP stock opened at $199.20 on Thursday. The firm has a market cap of $5.61 billion, a PE ratio of 22.13 and a beta of 1.98. The firm has a fifty day moving average price of $197.66 and a 200 day moving average price of $217.91. 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 has a fifty-two week low of $169.02 and a fifty-two week high of $281.04.

Installed Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Friday, December 13th. Installed Building Products’s dividend payout ratio is currently 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 the stock. Hennion & Walsh Asset Management Inc. increased its position in shares of Installed Building Products by 34.3% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,399 shares of the construction company’s stock worth $245,000 after acquiring an additional 357 shares during the period. Radnor Capital Management LLC grew its stake in Installed Building Products by 61.5% in the fourth quarter. Radnor Capital Management LLC now owns 6,138 shares of the construction company’s stock worth $1,076,000 after purchasing an additional 2,338 shares in the last quarter. Park Avenue Securities LLC increased its holdings in Installed Building Products by 14.3% during the 4th quarter. Park Avenue Securities LLC now owns 3,011 shares of the construction company’s stock worth $528,000 after purchasing an additional 376 shares during the period. Franklin Resources Inc. raised its position in Installed Building Products by 13.0% during the 3rd quarter. Franklin Resources Inc. now owns 193,766 shares of the construction company’s stock valued at $48,368,000 after purchasing an additional 22,367 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Installed Building Products during the 3rd quarter valued at $353,000. 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.