Installed Building Products (NYSE:IBP) Shares Gap Down - Here's What Happened

Installed Building Products, Inc. (NYSE:IBP - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $170.37, but opened at $166.02. Installed Building Products shares last traded at $167.48, with a volume of 12,171 shares trading hands.

Wall Street Analysts Forecast Growth

• Top 3 Homebuilder Stocks to Watch as Rates Drop

A number of brokerages recently weighed in on IBP. DA Davidson reduced their target price on shares of Installed Building Products from $260.00 to $225.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Installed Building Products in a research report on Tuesday, April 1st. They set a "hold" rating and a $183.00 price objective for the company. Benchmark decreased their price objective on Installed Building Products from $250.00 to $210.00 and set a "buy" rating for the company in a report on Monday, March 3rd. StockNews.com cut Installed Building Products from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Truist Financial reduced their price target on Installed Building Products from $240.00 to $180.00 and set a "hold" rating for the company in a research report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $216.09.

Check Out Our Latest Report on IBP

Installed Building Products Stock Performance

• 3 Midcap Building Industry Stocks Constructing Good Price Action

The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 18.46 and a beta of 1.84. The company's fifty day simple moving average is $173.67 and its 200 day simple moving average is $198.20. 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 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 was Friday, March 14th. This is an increase from Installed Building Products's previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 0.89%. Installed Building Products's dividend payout ratio (DPR) is 16.26%.

Hedge Funds Weigh In On Installed Building Products

Institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System lifted its holdings in Installed Building Products by 0.8% during the 4th quarter. Arizona State Retirement System now owns 6,966 shares of the construction company's stock worth $1,221,000 after purchasing an additional 56 shares during the last quarter. McIlrath & Eck LLC lifted its holdings in shares of Installed Building Products by 32.3% during the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock worth $44,000 after buying an additional 61 shares in the last quarter. Dana Investment Advisors Inc. lifted its holdings in shares of Installed Building Products by 0.9% during the fourth quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company's stock worth $1,363,000 after buying an additional 71 shares in the last quarter. State of Wyoming boosted its position in shares of Installed Building Products by 10.1% in the fourth quarter. State of Wyoming now owns 840 shares of the construction company's stock valued at $147,000 after acquiring an additional 77 shares during the period. Finally, Summit Investment Advisors Inc. grew its stake in shares of Installed Building Products by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,507 shares of the construction company's stock valued at $439,000 after acquiring an additional 79 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company's stock.

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.

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