StockNews.com Downgrades Installed Building Products (NYSE:IBP) to Hold

StockNews.com cut shares of Installed Building Products (NYSE:IBP - Free Report) from a buy rating to a hold rating in a research note published on Friday morning.

A number of other equities research analysts also recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Installed Building Products from $201.00 to $203.00 and gave the company a sector perform rating in a research report on Friday, August 2nd. Stephens reissued an equal weight rating and set a $240.00 price objective on shares of Installed Building Products in a research note on Monday, August 5th. Truist Financial lifted their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a hold rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. lowered their target price on shares of Installed Building Products from $242.00 to $227.00 and set a neutral rating for the company in a research note on Monday, May 13th. Finally, Jefferies Financial Group lifted their target price on shares of Installed Building Products from $239.00 to $250.00 and gave the stock a hold rating in a research note on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Installed Building Products presently has a consensus rating of Hold and a consensus target price of $255.20.

Installed Building Products Stock Performance

Shares of IBP traded down $0.69 during mid-day trading on Friday, hitting $204.52. 254,282 shares of the company's stock were exchanged, compared to its average volume of 296,222. Installed Building Products has a fifty-two week low of $106.01 and a fifty-two week high of $281.04. The firm has a market capitalization of $5.82 billion, a P/E ratio of 23.29 and a beta of 1.93. The business's 50 day moving average is $224.07 and its two-hundred day moving average is $227.68. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.24.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, beating analysts' consensus estimates of $2.77 by $0.13. The firm had revenue of $737.60 million during the quarter, compared to the consensus estimate of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. On average, equities analysts expect that Installed Building Products will post 11.14 earnings per share for the current year.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Sunday, September 15th will be issued a $0.35 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.68%. Installed Building Products's dividend payout ratio (DPR) is presently 15.84%.

Hedge Funds Weigh In On Installed Building Products

Hedge funds have recently made changes to their positions in the stock. NBC Securities Inc. acquired a new position in shares of Installed Building Products during the 4th quarter valued at $25,000. Russell Investments Group Ltd. lifted its holdings in shares of Installed Building Products by 280.6% during the 4th quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company's stock valued at $25,000 after acquiring an additional 101 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Installed Building Products during the 1st quarter valued at $29,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Installed Building Products during the 4th quarter valued at $32,000. Finally, Quarry LP lifted its holdings in shares of Installed Building Products by 37.5% during the 4th quarter. Quarry LP now owns 209 shares of the construction company's stock valued at $38,000 after acquiring an additional 57 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company's stock.

Installed Building Products Company Profile

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.