Installed Building Products, Inc. (NYSE:IBP) Given Consensus Rating of “Hold” by Brokerages

Shares of Installed Building Products, Inc. (NYSE:IBP) have received an average rating of “Hold” from the eleven brokerages that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $247.10.

Several research analysts have recently commented on the company. Royal Bank of Canada lowered Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their price target for the stock from $203.00 to $197.00 in a report on Friday, November 8th. DA Davidson reduced 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. Evercore ISI cut shares of Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their price target for the company from $238.00 to $206.00 in a research note on Monday, December 16th. 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. Finally, Jefferies Financial Group increased their price objective on Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th.

Hedge Funds Weigh In On Installed Building Products

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC lifted its position in shares of Installed Building Products by 61.5% during the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after purchasing an additional 367,628 shares in the last quarter. Summit Partners Public Asset Management LLC purchased a new stake in Installed Building Products during the 3rd quarter worth approximately $54,499,000. Wellington Management Group LLP acquired a new stake in Installed Building Products during the 3rd quarter worth approximately $34,635,000. Millennium Management LLC boosted its position in Installed Building Products by 395.3% in the 2nd quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock valued at $29,446,000 after buying an additional 114,259 shares during the period. Finally, State Street Corp grew its stake in shares of Installed Building Products by 8.4% in the third quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock worth $307,472,000 after acquiring an additional 96,780 shares in the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

NYSE:IBP opened at $174.32 on Wednesday. The stock has a 50 day moving average price of $210.89 and a 200 day moving average price of $220.75. The stock has a market cap of $4.91 billion, a PE ratio of 19.37 and a beta of 1.93. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. Installed Building Products has a one year low of $168.08 and a one year high of $281.04.

Installed Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 annualized dividend and a dividend yield of 0.80%. Installed Building Products’s dividend payout ratio 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.