Installed Building Products (NYSE:IBP) Hits New 12-Month Low – What’s Next?

Installed Building Products, Inc. (NYSE:IBP)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $169.02 and last traded at $170.32, with a volume of 15331 shares changing hands. The stock had previously closed at $173.83.

Analyst Upgrades and Downgrades

IBP has been the subject of a number of research analyst reports. Seaport Res Ptn lowered shares of 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 cut their price objective for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. raised their target price on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Royal Bank of Canada lowered Installed Building Products from a “sector perform” rating to an “underperform” rating and cut their price target for the stock from $203.00 to $197.00 in a report on Friday, November 8th. Finally, DA Davidson lowered their price objective 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. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $247.10.

Installed Building Products Price Performance

The stock’s 50 day simple moving average is $203.05 and its two-hundred day simple moving average is $219.02. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 19.39 and a beta of 1.98. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.80%. Installed Building Products’s payout ratio is presently 15.56%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Xponance Inc. increased its position in shares of Installed Building Products by 5.3% during the 2nd quarter. Xponance Inc. now owns 1,519 shares of the construction company’s stock worth $312,000 after purchasing an additional 76 shares in the last quarter. GHP Investment Advisors Inc. raised its stake in shares of Installed Building Products by 185.7% in the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. NBC Securities Inc. boosted its holdings in shares of Installed Building Products by 6.4% in the 3rd quarter. NBC Securities Inc. now owns 1,784 shares of the construction company’s stock worth $439,000 after acquiring an additional 108 shares in the last quarter. Arizona State Retirement System grew its position in Installed Building Products by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 6,750 shares of the construction company’s stock worth $1,388,000 after acquiring an additional 114 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in Installed Building Products during the 3rd quarter worth approximately $29,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

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.