Installed Building Products, Inc. (NYSE:IBP - Get Free Report)'s share price shot up 7.2% on Tuesday . The company traded as high as $187.90 and last traded at $187.61. 272,750 shares changed hands during mid-day trading, an increase of 23% from the average session volume of 222,641 shares. The stock had previously closed at $174.99.
Analysts Set New Price Targets
A number of research firms have recently weighed in on IBP. JPMorgan Chase & Co. raised their price objective on Installed Building Products from $236.00 to $241.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. The Goldman Sachs Group lowered their price target on Installed Building Products from $262.00 to $228.00 and set a "buy" rating for the company in a research report on Tuesday. Seaport Res Ptn cut Installed Building Products from a "strong-buy" rating to a "hold" rating in a research report on Friday, December 13th. DA Davidson lowered their price target on Installed Building Products from $275.00 to $260.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Finally, Jefferies Financial Group lifted their price target 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. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $240.40.
Check Out Our Latest Stock Report on IBP
Installed Building Products Price Performance
The stock has a 50 day simple moving average of $198.69 and a two-hundred day simple moving average of $218.21. The firm has a market cap of $5.28 billion, a PE ratio of 20.84 and a beta of 1.98. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99.
Installed Building Products Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Sunday, December 15th were paid a $0.35 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.40 annualized dividend and a dividend yield of 0.75%. Installed Building Products's dividend payout ratio is presently 15.56%.
Hedge Funds Weigh In On Installed Building Products
Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp increased its stake in shares of Installed Building Products by 8.4% in the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company's stock valued at $307,472,000 after purchasing an additional 96,780 shares in the last quarter. FMR LLC boosted its holdings in Installed Building Products by 61.5% in the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company's stock worth $237,786,000 after buying an additional 367,628 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Installed Building Products by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company's stock worth $153,452,000 after buying an additional 23,179 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Installed Building Products by 6.5% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 329,166 shares of the construction company's stock worth $81,063,000 after buying an additional 20,155 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Installed Building Products by 8.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 276,383 shares of the construction company's stock worth $68,065,000 after buying an additional 21,942 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company's stock.
Installed Building Products Company Profile
(
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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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