Brokerages Set Installed Building Products, Inc. (NYSE:IBP) Target Price at $247.10

Shares of Installed Building Products, Inc. (NYSE:IBP) have received an average recommendation of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $247.10.

Several equities analysts recently weighed in on the company. Royal Bank of Canada cut Installed Building Products from a “sector perform” rating to an “underperform” rating and cut their price objective for the stock from $203.00 to $197.00 in a research report on Friday, November 8th. Evercore ISI downgraded shares of Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their price objective for the stock from $238.00 to $206.00 in a research note on Monday, December 16th. DA Davidson cut their target price on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, November 8th. StockNews.com upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd.

Institutional Investors Weigh In On Installed Building Products

Institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new position in shares of Installed Building Products during the 3rd quarter worth approximately $29,000. GHP Investment Advisors Inc. grew its position in Installed Building Products by 185.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock worth $30,000 after acquiring an additional 78 shares during the last quarter. Advisors Asset Management Inc. raised its position in Installed Building Products by 152.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after purchasing an additional 140 shares during the last quarter. Quarry LP boosted its stake in Installed Building Products by 953.3% in the third quarter. Quarry LP now owns 316 shares of the construction company’s stock worth $78,000 after purchasing an additional 286 shares in the last quarter. Finally, Centaurus Financial Inc. acquired a new position in Installed Building Products during the 3rd quarter worth about $111,000. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Stock Performance

Shares of IBP opened at $174.32 on Wednesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. Installed Building Products has a one year low of $168.08 and a one year high of $281.04. The company’s fifty day moving average price is $212.50 and its 200 day moving average price is $220.90. The company has a market capitalization of $4.91 billion, a PE ratio of 19.37 and a beta of 1.93.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.80%. The ex-dividend date is Friday, December 13th. Installed Building Products’s dividend payout ratio (DPR) is presently 15.56%.

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.