The Goldman Sachs Group Cuts Installed Building Products (NYSE:IBP) Price Target to $228.00

Installed Building Products (NYSE:IBP - Free Report) had its price target reduced by The Goldman Sachs Group from $262.00 to $228.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the construction company's stock.

Several other research analysts have also issued reports on the stock. DA Davidson cut their target price on shares of Installed Building Products from $275.00 to $260.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. Royal Bank of Canada cut shares of Installed Building Products from a "sector perform" rating to an "underperform" rating and cut their price objective for the stock from $203.00 to $197.00 in a research report on Friday, November 8th. Seaport Res Ptn lowered Installed Building Products from a "strong-buy" rating to a "hold" rating in a research report on Friday, December 13th. Evercore ISI lowered Installed Building Products from an "outperform" rating to an "underperform" rating and cut their price target for the stock from $238.00 to $206.00 in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Installed Building Products from $236.00 to $241.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $240.40.

Installed Building Products Trading Up 7.2 %

Shares of NYSE IBP traded up $12.61 during midday trading on Tuesday, reaching $187.60. The stock had a trading volume of 458,300 shares, compared to its average volume of 250,587. Installed Building Products has a twelve month low of $169.02 and a twelve month high of $281.04. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The company's 50 day moving average price is $198.69 and its 200 day moving average price is $218.21. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of 20.84 and a beta of 1.98.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Friday, December 13th. Installed Building Products's payout ratio is 15.56%.

Institutional Trading of Installed Building Products

Hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in shares of Installed Building Products during the third quarter worth $29,000. GHP Investment Advisors Inc. raised its stake in shares of Installed Building Products by 185.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company's stock valued at $30,000 after purchasing an additional 78 shares during the period. Advisors Asset Management Inc. lifted its holdings in Installed Building Products by 152.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company's stock worth $57,000 after purchasing an additional 140 shares in the last quarter. Quarry LP boosted its stake in Installed Building Products by 953.3% in the 3rd quarter. Quarry LP now owns 316 shares of the construction company's stock worth $78,000 after purchasing an additional 286 shares during the period. Finally, Centaurus Financial Inc. purchased a new position in Installed Building Products during the 3rd quarter valued at about $111,000. 99.61% of the stock is currently owned by institutional investors.

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.