Installed Building Products (NYSE:IBP) Sets New 12-Month Low – What’s Next?

Installed Building Products, Inc. (NYSE:IBP)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $153.40 and last traded at $156.41, with a volume of 431050 shares. The stock had previously closed at $163.96.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Loop Capital reduced their price objective on Installed Building Products from $230.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Truist Financial cut their target price on Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a research note on Monday, March 3rd. The Goldman Sachs Group decreased their price target on Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft began coverage on Installed Building Products in a research note on Tuesday, April 1st. They issued a “hold” rating and a $183.00 target price on the stock. Finally, DA Davidson lowered their target price on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $216.09.

Installed Building Products Stock Up 1.5 %

The business’s 50 day moving average is $171.12 and its 200 day moving average is $195.70. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The company has a market cap of $4.37 billion, a P/E ratio of 17.59 and a beta of 1.84.

Installed Building Products Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.37 dividend. The ex-dividend date was Friday, March 14th. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 0.93%. Installed Building Products’s payout ratio is currently 16.26%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Arizona State Retirement System boosted its stake in 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 worth $1,221,000 after purchasing an additional 56 shares in the last quarter. McIlrath & Eck LLC boosted its holdings in Installed Building Products by 32.3% during the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock worth $44,000 after buying an additional 61 shares in the last quarter. Dana Investment Advisors Inc. increased its position in shares of Installed Building Products by 0.9% in the fourth quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company’s stock valued at $1,363,000 after buying an additional 71 shares in the last quarter. State of Wyoming raised its holdings in shares of Installed Building Products by 10.1% during the fourth quarter. State of Wyoming now owns 840 shares of the construction company’s stock valued at $147,000 after acquiring an additional 77 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in shares of Installed Building Products by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,507 shares of the construction company’s stock worth $439,000 after buying an additional 79 shares in the last quarter. Institutional investors 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.