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

Installed Building Products, Inc. (NYSE:IBP) has received a consensus recommendation of “Hold” from the eleven ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $247.10.

A number of brokerages have commented on IBP. StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. increased 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. Jefferies Financial Group raised their price target on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. DA Davidson lowered their price objective on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, Royal Bank of Canada lowered Installed Building Products from a “sector perform” rating to an “underperform” rating and cut their target price for the stock from $203.00 to $197.00 in a research report on Friday, November 8th.

Installed Building Products Stock Performance

Shares of Installed Building Products stock opened at $174.32 on Wednesday. The business has a 50-day simple moving average of $210.89 and a 200-day simple moving average of $220.75. 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. The company has a market cap of $4.91 billion, a PE ratio of 19.37 and a beta of 1.93.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.80%. The ex-dividend date is Friday, December 13th. Installed Building Products’s payout ratio is currently 15.56%.

Institutional Investors Weigh In On Installed Building Products

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. raised its stake in Installed Building Products by 13.0% during the 3rd quarter. Franklin Resources Inc. now owns 193,766 shares of the construction company’s stock valued at $48,368,000 after acquiring an additional 22,367 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Installed Building Products during the third quarter worth approximately $353,000. TD Private Client Wealth LLC raised its stake in shares of Installed Building Products by 15.3% during the third quarter. TD Private Client Wealth LLC now owns 1,034 shares of the construction company’s stock worth $255,000 after purchasing an additional 137 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Installed Building Products by 121.1% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,094 shares of the construction company’s stock worth $3,963,000 after purchasing an additional 8,815 shares during the period. Finally, Coldstream Capital Management Inc. purchased a new position in Installed Building Products in the 3rd quarter valued at $203,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

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.