Installed Building Products (NYSE:IBP) Upgraded at StockNews.com

StockNews.com upgraded shares of Installed Building Products (NYSE:IBP) from a hold rating to a buy rating in a report issued on Friday morning.

A number of other analysts have also recently weighed in on the company. The Goldman Sachs Group raised their price objective on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Stephens reissued an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a report on Monday, August 5th. Evercore ISI upped their price objective on shares of Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Truist Financial lifted their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Finally, Jefferies Financial Group upped their price target on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and a consensus price target of $252.30.

Installed Building Products Trading Down 3.8 %

NYSE IBP opened at $200.02 on Friday. Installed Building Products has a 52 week low of $138.37 and a 52 week high of $281.04. The company has a 50 day moving average price of $230.77 and a 200 day moving average price of $224.15. 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 firm has a market cap of $5.63 billion, a PE ratio of 22.22 and a beta of 1.95.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s dividend payout ratio is currently 15.56%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IBP. Vanguard Group Inc. boosted its position in Installed Building Products by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock worth $683,421,000 after purchasing an additional 18,890 shares in the last quarter. State Street Corp grew its position in Installed Building Products by 8.4% during the third quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock valued at $307,472,000 after buying an additional 96,780 shares during the period. FMR LLC increased its holdings in Installed Building Products by 61.5% in the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock valued at $237,786,000 after buying an additional 367,628 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Installed Building Products by 3.9% in the third quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock worth $153,452,000 after acquiring an additional 23,179 shares during the period. Finally, Swedbank AB boosted its stake in shares of Installed Building Products by 11.6% during the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after acquiring an additional 43,000 shares in the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

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.