Installed Building Products, Inc. (NYSE:IBP) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of Installed Building Products, Inc. (NYSE:IBP - Get Free Report) have been assigned a consensus recommendation of "Hold" from the twelve analysts that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $216.09.

A number of research analysts have weighed in on IBP shares. The Goldman Sachs Group dropped 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. Benchmark cut their price target on Installed Building Products from $250.00 to $210.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft began coverage on Installed Building Products in a research note on Tuesday, April 1st. They issued a "hold" rating and a $183.00 price objective for the company. Truist Financial cut their target price on Installed Building Products from $240.00 to $180.00 and set a "hold" rating on the stock in a research report on Monday, March 3rd. Finally, Evercore ISI cut Installed Building Products from an "outperform" rating to an "underperform" rating and dropped their price objective for the company from $238.00 to $206.00 in a research note on Monday, December 16th.

Institutional Trading of Installed Building Products

A number of hedge funds and other institutional investors have recently modified their holdings of IBP. Teachers Retirement System of The State of Kentucky raised its stake in shares of 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 purchasing an additional 8,815 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Installed Building Products by 8.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 5,266 shares of the construction company's stock valued at $923,000 after acquiring an additional 405 shares during the period. Geode Capital Management LLC boosted 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 purchasing an additional 23,179 shares during the period. Principal Financial Group Inc. boosted its holdings in Installed Building Products by 3.6% in the 4th quarter. Principal Financial Group Inc. now owns 126,872 shares of the construction company's stock worth $22,234,000 after buying an additional 4,467 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Installed Building Products by 295.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company's stock worth $64,000 after acquiring an additional 272 shares during the period. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Stock Down 4.2 %

Shares of NYSE:IBP traded down $6.99 during trading on Friday, reaching $157.78. 603,965 shares of the stock were exchanged, compared to its average volume of 329,636. The stock has a fifty day moving average of $175.17 and a two-hundred day moving average of $199.36. Installed Building Products has a 1-year low of $154.77 and a 1-year high of $281.04. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of 17.53 and a beta of 1.84.

Installed Building Products Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.37 dividend. The ex-dividend date of this dividend 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 annualized dividend and a yield of 0.94%. 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.