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

Installed Building Products, Inc. (NYSE:IBP - Get Free Report)'s share price hit a new 52-week low during mid-day 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 changing hands. The stock had previously closed at $171.40.

Several other equities research analysts have also recently weighed in on IBP. Seaport Res Ptn cut Installed Building Products from a "strong-buy" rating to a "hold" rating in a research report on Friday, December 13th. Evercore ISI cut Installed Building Products from an "outperform" rating to an "underperform" rating and decreased their price target for the company from $238.00 to $206.00 in a research report on Monday, December 16th. Benchmark decreased their price target on Installed Building Products from $250.00 to $210.00 and set a "buy" rating on the stock in a research report on Monday. Truist Financial decreased their price target on Installed Building Products from $240.00 to $180.00 and set a "hold" rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. upped their price target 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. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $219.40.

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Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IBP. Arizona State Retirement System boosted its stake in Installed Building Products by 0.8% in the fourth quarter. Arizona State Retirement System now owns 6,966 shares of the construction company's stock worth $1,221,000 after buying an additional 56 shares in the last quarter. McIlrath & Eck LLC boosted its stake in Installed Building Products by 32.3% in the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock worth $44,000 after buying an additional 61 shares in the last quarter. Dana Investment Advisors Inc. boosted its stake in Installed Building Products by 0.9% in the fourth quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company's stock worth $1,363,000 after buying an additional 71 shares in the last quarter. State of Wyoming boosted its stake in Installed Building Products by 10.1% in the fourth quarter. State of Wyoming now owns 840 shares of the construction company's stock worth $147,000 after buying an additional 77 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake in Installed Building Products by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,507 shares of the construction company's stock worth $439,000 after buying an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company's stock.

Installed Building Products Stock Performance

The firm has a market cap of $4.90 billion, a PE ratio of 19.35 and a beta of 1.99. The company has a 50 day simple moving average of $182.53 and a 200-day simple moving average of $207.51. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.37 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 0.85%. This is a positive change from Installed Building Products's previous quarterly dividend of $0.35. Installed Building Products's dividend payout ratio is currently 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.