JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Installed Building Products (NYSE:IBP) Stock

Installed Building Products (NYSE:IBP) had its price objective hoisted by JPMorgan Chase & Co. from $236.00 to $241.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

IBP has been the subject of a number of other research reports. Stephens reaffirmed an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a report on Monday, August 5th. Jefferies Financial Group increased their price target on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. The Goldman Sachs Group increased their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Truist Financial raised their price objective on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $253.70.

Installed Building Products Stock Up 2.7 %

IBP opened at $216.92 on Friday. The firm has a 50-day simple moving average of $230.84 and a two-hundred day simple moving average of $223.31. Installed Building Products has a 52 week low of $144.15 and a 52 week high of $281.04. The company has a market capitalization of $6.10 billion, a PE ratio of 24.10 and a beta of 1.95. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18.

Installed Building Products Dividend Announcement

The firm 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 dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.65%. The ex-dividend date is Friday, December 13th. Installed Building Products’s payout ratio is 15.56%.

Institutional Investors Weigh In On Installed Building Products

Institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in Installed Building Products in the third quarter valued at approximately $29,000. GHP Investment Advisors Inc. lifted its stake in shares of Installed Building Products by 185.7% during the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock worth $30,000 after buying an additional 78 shares during the period. CWM LLC lifted its stake in shares of Installed Building Products by 32.1% during the second quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after buying an additional 62 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Installed Building Products by 152.2% during the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after buying an additional 140 shares during the period. Finally, Quarry LP lifted its stake in shares of Installed Building Products by 953.3% during the third quarter. Quarry LP now owns 316 shares of the construction company’s stock worth $78,000 after buying an additional 286 shares during the period. 99.61% of the stock is currently owned by institutional investors and hedge funds.

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.