Installed Building Products (NYSE:IBP) Sets New 1-Year Low - Here's Why

Installed Building Products, Inc. (NYSE:IBP - Get Free Report) shares reached a new 52-week low on Saturday . The stock traded as low as $157.93 and last traded at $173.19, with a volume of 784236 shares traded. The stock had previously closed at $163.79.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Evercore ISI cut shares of Installed Building Products from an "outperform" rating to an "underperform" rating and cut their target price for the company from $238.00 to $206.00 in a research note on Monday, December 16th. Truist Financial lowered their target price on Installed Building Products from $240.00 to $180.00 and set a "hold" rating for the company in a research note on Monday, March 3rd. StockNews.com cut shares of Installed Building Products from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Loop Capital lowered their price objective on Installed Building Products from $230.00 to $215.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Installed Building Products in a research note on Tuesday, April 1st. They set a "hold" rating and a $183.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $216.09.

Installed Building Products Stock Down 3.6 %

The company has a market capitalization of $4.65 billion, a P/E ratio of 18.64 and a beta of 1.84. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The firm has a fifty day simple moving average of $174.01 and a 200-day simple moving average of $198.69.

Installed Building Products Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 0.88%. This is a boost from Installed Building Products's previous quarterly dividend of $0.35. The ex-dividend date was Friday, March 14th. Installed Building Products's dividend payout ratio is presently 16.26%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Curio Wealth LLC acquired a new stake in shares of Installed Building Products during the fourth quarter worth $30,000. McIlrath & Eck LLC increased its holdings in Installed Building Products by 32.3% during the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock worth $44,000 after purchasing an additional 61 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Installed Building Products by 295.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company's stock valued at $64,000 after purchasing an additional 272 shares during the period. Mpwm Advisory Solutions LLC acquired a new position in shares of Installed Building Products during the fourth quarter worth about $90,000. Finally, Headlands Technologies LLC grew its holdings in shares of Installed Building Products by 819.0% during the fourth quarter. Headlands Technologies LLC now owns 726 shares of the construction company's stock worth $127,000 after buying an additional 647 shares in the last quarter. Institutional investors own 99.61% of the company's stock.

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.