Installed Building Products (NYSE:IBP - Free Report) had its price target reduced by DA Davidson from $275.00 to $260.00 in a research note issued to investors on Friday,Benzinga reports. DA Davidson currently has a buy rating on the construction company's stock.
A number of other brokerages have also issued reports on IBP. Royal Bank of Canada lowered shares of Installed Building Products from a "sector perform" rating to an "underperform" rating and cut their price target for the stock from $203.00 to $197.00 in a research note on Friday. StockNews.com downgraded Installed Building Products from a "buy" rating to a "hold" rating in a report on Thursday. Truist Financial increased their price objective on Installed Building Products from $235.00 to $240.00 and gave the company a "hold" rating in a report on Friday, August 2nd. Evercore ISI upped their price target on Installed Building Products from $271.00 to $272.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group increased their price objective on Installed Building Products from $240.00 to $252.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Installed Building Products currently has a consensus rating of "Hold" and a consensus price target of $252.30.
Get Our Latest Stock Analysis on Installed Building Products
Installed Building Products Stock Performance
IBP traded down $7.10 during trading on Friday, reaching $210.17. 577,004 shares of the company's stock were exchanged, compared to its average volume of 293,806. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59. The stock has a market capitalization of $5.93 billion, a P/E ratio of 23.83 and a beta of 1.95. The company's fifty day simple moving average is $231.34 and its 200-day simple moving average is $225.41. Installed Building Products has a 1 year low of $121.83 and a 1 year high of $281.04.
Installed Building Products (NYSE:IBP - Get Free Report) last announced its earnings results on Thursday, November 7th. The construction company reported $2.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.86 by ($0.13). The business had revenue of $760.60 million for the quarter, compared to analyst estimates of $757.91 million. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. As a group, research analysts predict that Installed Building Products will post 11 earnings per share for the current fiscal year.
Installed Building Products Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products's dividend payout ratio is 15.62%.
Institutional Trading of Installed Building Products
A number of hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Installed Building Products during the first quarter worth $29,000. V Square Quantitative Management LLC acquired a new position in shares of Installed Building Products in the third quarter valued at approximately $29,000. GHP Investment Advisors Inc. grew its position in shares of Installed Building Products by 185.7% in the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company's stock valued at $30,000 after purchasing an additional 78 shares during the last quarter. CWM LLC boosted its stake in shares of Installed Building Products by 32.1% in the second quarter. CWM LLC now owns 255 shares of the construction company's stock valued at $52,000 after buying an additional 62 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Installed Building Products by 152.2% in the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company's stock valued at $57,000 after buying an additional 140 shares during the period. Institutional investors own 99.61% of the company's stock.
About Installed Building Products
(
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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.
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