Loop Capital Lowers Installed Building Products (NYSE:IBP) Price Target to $215.00

Installed Building Products (NYSE:IBP) had its price target trimmed by Loop Capital from $230.00 to $215.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

IBP has been the subject of a number of other reports. Evercore ISI downgraded shares of Installed Building Products from an “outperform” rating to an “underperform” rating and cut their price target for the company from $238.00 to $206.00 in a report on Monday, December 16th. Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and cut their price target for the company from $203.00 to $197.00 in a report on Friday, November 8th. Truist Financial cut their price target on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a report on Monday. The Goldman Sachs Group cut their price objective on Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, DA Davidson cut their price objective on Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $219.40.

Installed Building Products Price Performance

Shares of NYSE IBP opened at $174.13 on Tuesday. Installed Building Products has a twelve month low of $159.76 and a twelve month high of $281.04. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 19.35 and a beta of 1.99. The firm has a 50-day moving average of $182.53 and a two-hundred day moving average of $207.51.

Installed Building Products Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.37 dividend. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.85%. Installed Building Products’s dividend payout ratio is currently 16.26%.

Hedge Funds Weigh In On Installed Building Products

A number of large investors have recently made changes to their positions in the business. Arizona State Retirement System increased its holdings in shares of Installed Building Products by 0.8% in the 4th quarter. Arizona State Retirement System now owns 6,966 shares of the construction company’s stock valued at $1,221,000 after purchasing an additional 56 shares during the period. McIlrath & Eck LLC increased its holdings in shares of Installed Building Products by 32.3% in the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock valued at $44,000 after purchasing an additional 61 shares during the period. Dana Investment Advisors Inc. increased its holdings in shares of Installed Building Products by 0.9% in the 4th quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company’s stock valued at $1,363,000 after purchasing an additional 71 shares during the period. State of Wyoming increased its holdings in shares of Installed Building Products by 10.1% in the 4th quarter. State of Wyoming now owns 840 shares of the construction company’s stock valued at $147,000 after purchasing an additional 77 shares during the period. Finally, Summit Investment Advisors Inc. increased its holdings in shares of Installed Building Products by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,507 shares of the construction company’s stock valued at $439,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

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.