Loop Capital Cuts Installed Building Products (NYSE:IBP) Price Target to $200.00

Installed Building Products (NYSE:IBP) had its price objective cut by Loop Capital from $210.00 to $200.00 in a research note released on Monday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

IBP has been the topic of a number of other reports. StockNews.com downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. DA Davidson cut their price target on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Installed Building Products in a research note on Tuesday, April 1st. They issued a “hold” rating and a $183.00 price objective for the company. Truist Financial cut their target price on Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group decreased their price target on Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $212.45.

Installed Building Products Trading Down 4.9%

NYSE:IBP opened at $162.82 on Monday. Installed Building Products has a one year low of $151.27 and a one year high of $281.04. The company has a market cap of $4.50 billion, a PE ratio of 18.09 and a beta of 1.85. 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 has a 50-day moving average of $168.38 and a 200-day moving average of $185.71.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, May 8th. The construction company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.15). The company had revenue of $684.80 million during the quarter, compared to the consensus estimate of $681.34 million. Installed Building Products had a net margin of 8.74% and a return on equity of 43.56%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.47 EPS. As a group, equities research analysts expect that Installed Building Products will post 10.66 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.91%. Installed Building Products’s dividend payout ratio is presently 16.88%.

Institutional Investors Weigh In On Installed Building Products

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Curio Wealth LLC bought a new position in Installed Building Products during the fourth quarter worth about $30,000. UMB Bank n.a. boosted its holdings in Installed Building Products by 142.1% in the 1st quarter. UMB Bank n.a. now owns 184 shares of the construction company’s stock worth $32,000 after buying an additional 108 shares during the period. Fifth Third Bancorp grew its stake in Installed Building Products by 74.6% in the 1st quarter. Fifth Third Bancorp now owns 227 shares of the construction company’s stock valued at $39,000 after buying an additional 97 shares in the last quarter. McIlrath & Eck LLC raised its holdings in Installed Building Products by 32.3% during the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock valued at $44,000 after acquiring an additional 61 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in Installed Building Products by 295.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock valued at $64,000 after acquiring an additional 272 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.