Installed Building Products (NYSE:IBP) Reaches New 12-Month Low on Analyst Downgrade

Installed Building Products, Inc. (NYSE:IBP)’s stock price hit a new 52-week low during trading on Monday after Loop Capital lowered their price target on the stock from $230.00 to $215.00. Loop Capital currently has a buy rating on the stock. Installed Building Products traded as low as $161.64 and last traded at $162.51, with a volume of 303375 shares trading hands. The stock had previously closed at $171.40.

Several other analysts have also recently commented on IBP. JPMorgan Chase & Co. raised their target price on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Royal Bank of Canada lowered Installed Building Products from a “sector perform” rating to an “underperform” rating and lowered their price target for the company from $203.00 to $197.00 in a report on Friday, November 8th. The Goldman Sachs Group cut their price objective on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Benchmark dropped their price target on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Installed Building Products has a consensus rating of “Hold” and an average price target of $219.40.

Institutional Trading of Installed Building Products

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky grew its position in Installed Building Products by 121.1% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,094 shares of the construction company’s stock worth $3,963,000 after buying an additional 8,815 shares during the last quarter. Summit Partners Public Asset Management LLC acquired a new position in shares of Installed Building Products in the 3rd quarter worth $54,499,000. Natixis Advisors LLC raised its position in shares of Installed Building Products by 6.4% during the third quarter. Natixis Advisors LLC now owns 74,252 shares of the construction company’s stock worth $18,286,000 after purchasing an additional 4,451 shares during the period. Citigroup Inc. lifted its holdings in shares of Installed Building Products by 54.0% during the third quarter. Citigroup Inc. now owns 47,235 shares of the construction company’s stock valued at $11,633,000 after purchasing an additional 16,569 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Installed Building Products by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock valued at $153,452,000 after purchasing an additional 23,179 shares during the period. 99.61% of the stock is currently owned by institutional investors.

Installed Building Products Price Performance

The stock has a 50 day moving average of $182.67 and a two-hundred day moving average of $207.99. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The stock has a market cap of $4.68 billion, a PE ratio of 18.46 and a beta of 1.99.

Installed Building Products Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.37 dividend. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, March 14th. Installed Building Products’s dividend payout ratio (DPR) is 16.26%.

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.