Installed Building Products, Inc. (NYSE:IBP – Get Free Report) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 1,140,000 shares, a drop of 31.7% from the October 31st total of 1,670,000 shares. Currently, 4.8% of the company’s stock are short sold. Based on an average daily volume of 280,200 shares, the short-interest ratio is presently 4.1 days.
Analysts Set New Price Targets
A number of research analysts recently weighed in on IBP shares. The Goldman Sachs Group raised their target price on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. StockNews.com downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their price objective for the company from $203.00 to $197.00 in a research report on Friday, November 8th. Jefferies Financial Group lifted their price objective 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. Finally, Stephens reissued an “equal weight” rating and issued a $240.00 price objective on shares of Installed Building Products in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $253.70.
Installed Building Products Stock Performance
Installed Building Products Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Friday, December 13th. Installed Building Products’s dividend payout ratio (DPR) is presently 15.56%.
Institutional Investors Weigh In On Installed Building Products
A number of large investors have recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of Installed Building Products during the 3rd quarter worth approximately $29,000. GHP Investment Advisors Inc. boosted its holdings 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 valued at $30,000 after purchasing an additional 78 shares in the last quarter. CWM LLC increased its stake in shares of Installed Building Products by 32.1% in the 2nd 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 last quarter. Advisors Asset Management Inc. raised its holdings in shares of Installed Building Products by 152.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after buying an additional 140 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Installed Building Products by 953.3% during the 3rd quarter. Quarry LP now owns 316 shares of the construction company’s stock worth $78,000 after buying an additional 286 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.
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.
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