Installed Building Products, Inc. (NYSE:IBP) Receives Consensus Recommendation of “Hold” from Analysts

Installed Building Products, Inc. (NYSE:IBP) has received a consensus rating of “Hold” from the eleven analysts that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $219.40.

Several analysts have recently weighed in on the company. Truist Financial reduced their target price on Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a report on Monday, March 3rd. Loop Capital decreased their price objective on Installed Building Products from $230.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. DA Davidson lowered their target price on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Benchmark reduced their price target on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in IBP. FMR LLC raised its stake in shares of Installed Building Products by 61.5% during 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 in the last quarter. Summit Partners Public Asset Management LLC purchased a new position in Installed Building Products in the third quarter worth $54,499,000. First Trust Advisors LP raised its position in Installed Building Products by 69.8% in the fourth quarter. First Trust Advisors LP now owns 485,727 shares of the construction company’s stock worth $85,124,000 after acquiring an additional 199,657 shares in the last quarter. Norges Bank acquired a new stake in Installed Building Products in the fourth quarter valued at $28,509,000. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of Installed Building Products by 87.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 338,081 shares of the construction company’s stock worth $59,249,000 after purchasing an additional 158,173 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

Shares of NYSE:IBP opened at $171.64 on Monday. Installed Building Products has a 12 month low of $159.77 and a 12 month high of $281.04. The firm has a market capitalization of $4.76 billion, a P/E ratio of 19.07 and a beta of 2.05. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The company’s fifty day moving average price is $182.38 and its 200 day moving average price is $205.59.

Installed Building Products Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.86%. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, March 14th. Installed Building Products’s payout ratio is 16.26%.

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.