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

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

Several other research firms also recently issued reports on IBP. Evercore ISI downgraded Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their target price for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. Seaport Res Ptn cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. JPMorgan Chase & Co. lifted their target price on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. The Goldman Sachs Group lowered their price target on shares of 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, Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their price objective for the company from $203.00 to $197.00 in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $240.40.

Installed Building Products Stock Performance

Shares of IBP stock opened at $196.38 on Thursday. The firm’s 50 day moving average is $197.38 and its 200 day moving average is $218.02. The stock has a market capitalization of $5.53 billion, a P/E ratio of 21.82 and a beta of 1.98. Installed Building Products has a 12 month low of $169.02 and a 12 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.

Installed Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Sunday, December 15th were paid a $0.35 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.71%. Installed Building Products’s dividend payout ratio is presently 15.56%.

Institutional Investors Weigh In On Installed Building Products

Several hedge funds have recently added to or reduced their stakes in IBP. Inspire Investing LLC raised its holdings in shares of Installed Building Products by 30.4% during the 4th quarter. Inspire Investing LLC now owns 2,490 shares of the construction company’s stock valued at $436,000 after buying an additional 580 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in 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 valued at $245,000 after acquiring an additional 357 shares during the last quarter. Radnor Capital Management LLC lifted its holdings in shares of Installed Building Products by 61.5% in the 4th quarter. Radnor Capital Management LLC now owns 6,138 shares of the construction company’s stock worth $1,076,000 after acquiring an additional 2,338 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Installed Building Products by 14.3% in the 4th quarter. Park Avenue Securities LLC now owns 3,011 shares of the construction company’s stock worth $528,000 after acquiring an additional 376 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Installed Building Products by 13.0% in 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. 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.