Installed Building Products (NYSE:IBP) Price Target Cut to $228.00 by Analysts at The Goldman Sachs Group

Installed Building Products (NYSE:IBP) had its price target reduced by The Goldman Sachs Group from $262.00 to $228.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

IBP has been the subject of a number of other reports. StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday, December 18th. Seaport Res Ptn cut shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their target price for the company from $203.00 to $197.00 in a research report on Friday, November 8th. Jefferies Financial Group increased their price target 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. Finally, DA Davidson decreased their price objective on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Installed Building Products has a consensus rating of “Hold” and a consensus target price of $240.40.

Installed Building Products Stock Up 7.2 %

Shares of IBP stock opened at $187.60 on Tuesday. 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 fifty-two week low of $169.02 and a fifty-two week high of $281.04. The firm has a market capitalization of $5.28 billion, a PE ratio of 20.84 and a beta of 1.98. The stock’s 50-day simple moving average is $198.69 and its 200-day simple moving average is $218.21.

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.75%. Installed Building Products’s dividend payout ratio is currently 15.56%.

Institutional Trading of Installed Building Products

A number of institutional investors and hedge funds have recently made changes to their positions in IBP. Radnor Capital Management LLC lifted its position in shares of Installed Building Products by 61.5% during the 4th quarter. Radnor Capital Management LLC now owns 6,138 shares of the construction company’s stock valued at $1,076,000 after buying an additional 2,338 shares in the last quarter. Park Avenue Securities LLC raised its position in Installed Building Products by 14.3% during the fourth quarter. Park Avenue Securities LLC now owns 3,011 shares of the construction company’s stock worth $528,000 after acquiring an additional 376 shares during the period. Franklin Resources Inc. lifted its holdings in Installed Building Products by 13.0% during the third quarter. Franklin Resources Inc. now owns 193,766 shares of the construction company’s stock valued at $48,368,000 after purchasing an additional 22,367 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Installed Building Products in the third quarter valued at about $353,000. Finally, TD Private Client Wealth LLC increased 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 in the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Company Profile

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.