Deutsche Bank Aktiengesellschaft Begins Coverage on Installed Building Products (NYSE:IBP)

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Installed Building Products (NYSE:IBP) in a research note published on Tuesday morning, MarketBeat reports. The brokerage issued a hold rating and a $183.00 target price on the construction company’s stock.

IBP has been the subject of a number of other reports. Seaport Res Ptn cut shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Evercore ISI downgraded Installed Building Products from an “outperform” rating to an “underperform” rating and cut their price objective for the company from $238.00 to $206.00 in a research note on Monday, December 16th. DA Davidson reduced their target price on Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, Truist Financial lowered their price target on Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Installed Building Products has a consensus rating of “Hold” and an average target price of $216.09.

Installed Building Products Stock Performance

IBP stock opened at $172.35 on Tuesday. The firm has a 50 day moving average of $179.63 and a two-hundred day moving average of $202.12. Installed Building Products has a 12 month low of $159.77 and a 12 month high of $281.04. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 19.15 and a beta of 2.05. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18.

Installed Building Products Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, March 14th. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.86%. Installed Building Products’s payout ratio is 16.26%.

Institutional Investors Weigh In On Installed Building Products

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Installed Building Products by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 2,636,803 shares of the construction company’s stock valued at $462,100,000 after purchasing an additional 16,597 shares during the last quarter. State Street Corp raised its position in shares of 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 last quarter. FIL Ltd lifted its stake in shares of Installed Building Products by 14.0% in the fourth quarter. FIL Ltd now owns 1,039,038 shares of the construction company’s stock valued at $182,091,000 after buying an additional 127,215 shares during the period. Geode Capital Management LLC grew its position in Installed Building Products by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 633,556 shares of the construction company’s stock worth $111,053,000 after buying an additional 10,553 shares in the last quarter. Finally, Giverny Capital Inc. increased its stake in Installed Building Products by 3.6% during the fourth quarter. Giverny Capital Inc. now owns 504,735 shares of the construction company’s stock valued at $88,455,000 after acquiring an additional 17,620 shares during the period. 99.61% of the stock is owned by institutional investors.

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.