Installed Building Products (NYSE:IBP) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Installed Building Products (NYSE:IBP) from a hold rating to a buy rating in a report released on Friday.

A number of other research firms have also recently issued reports on IBP. Seaport Res Ptn cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. The Goldman Sachs Group cut their price objective on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price target for the company from $203.00 to $197.00 in a research note on Friday, November 8th. Evercore ISI cut Installed Building Products from an “outperform” rating to an “underperform” rating and reduced their price objective for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. Finally, Jefferies Financial Group lifted their target price on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Two equities 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $240.40.

Installed Building Products Stock Down 0.1 %

NYSE:IBP opened at $205.03 on Friday. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 22.78 and a beta of 1.98. 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 stock has a 50-day moving average price of $196.98 and a two-hundred day moving average price of $217.95. Installed Building Products has a 1 year low of $169.02 and a 1 year high of $281.04.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.68%. Installed Building Products’s payout ratio is currently 15.56%.

Hedge Funds Weigh In On Installed Building Products

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its position in Installed Building Products by 61.5% in the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock valued at $237,786,000 after acquiring an additional 367,628 shares in the last quarter. Summit Partners Public Asset Management LLC bought a new position in shares of Installed Building Products during the 3rd quarter valued at approximately $54,499,000. Wellington Management Group LLP purchased a new stake in shares of Installed Building Products during the 3rd quarter worth approximately $34,635,000. Millennium Management LLC increased its stake in shares of Installed Building Products by 395.3% during the 2nd quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock worth $29,446,000 after purchasing an additional 114,259 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Installed Building Products by 8.4% in the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock worth $307,472,000 after purchasing an additional 96,780 shares during the period. 99.61% of the stock is currently owned by institutional investors.

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.