Installed Building Products (NYSE:IBP) Trading 2.2% Higher - What's Next?
Installed Building Products (NYSE:IBP) shares rose 2.2% to $167.46, despite a significant drop in trading volume. Analysts have adjusted their price targets, with Truist lowering it from $240 to $180, while Goldman Sachs reduced theirs from $262 to $228. The company recently increased its quarterly dividend to $0.37 per share. Institutional investors hold 99.61% of the stock, reflecting strong interest. The company operates in insulation and related products, with a market cap of $4.90 billion and a P/E ratio of 19.62.
Installed Building Products, Inc. (NYSE:IBP - Get Free Report) shares shot up 2.2% on Friday . The company traded as high as $164.55 and last traded at $167.46. 15,143 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 322,247 shares. The stock had previously closed at $163.79.
Analyst Ratings Changes
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IBP has been the topic of several recent analyst reports. Truist Financial decreased their price objective on shares of Installed Building Products from $240.00 to $180.00 and set a "hold" rating on the stock in a research report on Monday, March 3rd. The Goldman Sachs Group decreased their price target on Installed Building Products from $262.00 to $228.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. StockNews.com lowered Installed Building Products from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Benchmark decreased their target price on Installed Building Products from $250.00 to $210.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Finally, Evercore ISI cut Installed Building Products from an "outperform" rating to an "underperform" rating and lowered their price target for the stock from $238.00 to $206.00 in a report on Monday, December 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $216.09.
View Our Latest Analysis on Installed Building Products
Installed Building Products Price Performance
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The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The firm's 50-day moving average is $178.20 and its two-hundred day moving average is $201.68. The company has a market cap of $4.90 billion, a P/E ratio of 19.62 and a beta of 2.05.
Installed Building Products Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Installed Building Products's previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 0.84%. Installed Building Products's dividend payout ratio is 16.26%.
Hedge Funds Weigh In On Installed Building Products
A number of institutional investors and hedge funds have recently modified their holdings of IBP. Teachers Retirement System of The State of Kentucky lifted its position in Installed Building Products by 121.1% in 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 buying an additional 8,815 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Installed Building Products by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company's stock worth $153,452,000 after acquiring an additional 23,179 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Installed Building Products by 3.6% during the 4th quarter. Principal Financial Group Inc. now owns 126,872 shares of the construction company's stock worth $22,234,000 after purchasing an additional 4,467 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Installed Building Products by 295.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company's stock worth $64,000 after purchasing an additional 272 shares during the period. Finally, Moody Aldrich Partners LLC grew its holdings in Installed Building Products by 28.3% during the 4th quarter. Moody Aldrich Partners LLC now owns 20,729 shares of the construction company's stock valued at $3,633,000 after purchasing an additional 4,568 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company's stock.
Installed Building Products Company Profile
(Get Free Report)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.
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