Installed Building Products, Inc. (NYSE:IBP) Receives $247.10 Consensus Target Price from Analysts

Shares of Installed Building Products, Inc. (NYSE:IBP) have been given a consensus recommendation of “Hold” by the eleven research firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $247.10.

A number of equities research analysts have recently issued reports on the company. Seaport Res Ptn lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. boosted their price objective on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their target price for the stock from $203.00 to $197.00 in a report on Friday, November 8th. Evercore ISI lowered shares of Installed Building Products from an “outperform” rating to an “underperform” rating and cut their price target for the company from $238.00 to $206.00 in a report on Monday, December 16th. Finally, DA Davidson decreased their price objective on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, November 8th.

Institutional Investors Weigh In On Installed Building Products

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in shares of Installed Building Products by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company’s stock valued at $46,572,000 after purchasing an additional 4,943 shares during the last quarter. Arkadios Wealth Advisors lifted its position in shares of Installed Building Products by 2.5% in the second quarter. Arkadios Wealth Advisors now owns 2,545 shares of the construction company’s stock worth $523,000 after buying an additional 63 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Installed Building Products by 12.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,967 shares of the construction company’s stock worth $2,050,000 after acquiring an additional 1,086 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Installed Building Products by 5.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 42,733 shares of the construction company’s stock valued at $8,789,000 after acquiring an additional 2,057 shares during the last quarter. Finally, F M Investments LLC bought a new position in shares of Installed Building Products in the 2nd quarter valued at approximately $10,261,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

Shares of Installed Building Products stock opened at $174.32 on Wednesday. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The stock has a market cap of $4.91 billion, a PE ratio of 19.37 and a beta of 1.93. Installed Building Products has a 52 week low of $168.08 and a 52 week high of $281.04. The company’s 50-day moving average price is $212.50 and its two-hundred day moving average price is $220.90.

Installed Building Products Dividend Announcement

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

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.