Installed Building Products (NYSE:IBP) Shares Down 4.7% – Here’s Why

Installed Building Products, Inc. (NYSE:IBP) traded down 4.7% during trading on Tuesday . The company traded as low as $223.29 and last traded at $224.71. 18,222 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 293,905 shares. The stock had previously closed at $235.76.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped 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 target price on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Evercore ISI increased their price target on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $253.70.

Installed Building Products Price Performance

The company has a market cap of $6.36 billion, a price-to-earnings ratio of 25.10 and a beta of 1.95. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The company’s 50 day moving average price is $230.45 and its 200 day moving average price is $222.88.

Installed Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Friday, December 13th. Installed Building Products’s dividend payout ratio (DPR) is presently 15.56%.

Institutional Trading of Installed Building Products

Several hedge funds have recently made changes to their positions in IBP. V Square Quantitative Management LLC acquired a new stake in shares of Installed Building Products in the 3rd quarter worth $29,000. GHP Investment Advisors Inc. lifted its stake in shares of Installed Building Products by 185.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock worth $30,000 after acquiring an additional 78 shares during the period. CWM LLC lifted its stake in shares of Installed Building Products by 32.1% in the second quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after purchasing an additional 62 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Installed Building Products by 152.2% in the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after purchasing an additional 140 shares during the period. Finally, Quarry LP lifted its stake in shares of Installed Building Products by 953.3% in the third quarter. Quarry LP now owns 316 shares of the construction company’s stock valued at $78,000 after purchasing an additional 286 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

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.