Loop Capital Cuts Installed Building Products (NYSE:IBP) Price Target to $215.00

Installed Building Products (NYSE:IBP) had its price objective reduced by Loop Capital from $230.00 to $215.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other analysts have also weighed in on the stock. Truist Financial lowered their target price on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a research note on Monday. StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. The Goldman Sachs Group lowered their target price on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Benchmark lowered their target price on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a research note on Monday. Finally, DA Davidson lowered 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $219.40.

Installed Building Products Stock Up 1.0 %

Shares of NYSE:IBP opened at $174.13 on Tuesday. 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 has a fifty day simple moving average of $182.53 and a 200 day simple moving average of $207.51. The firm has a market cap of $4.90 billion, a PE ratio of 19.35 and a beta of 1.99. Installed Building Products has a 12-month low of $159.76 and a 12-month high of $281.04.

Installed Building Products Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 0.85%. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s dividend payout ratio is currently 16.26%.

Institutional Investors Weigh In On Installed Building Products

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Installed Building Products by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 2,636,803 shares of the construction company’s stock worth $462,100,000 after purchasing an additional 16,597 shares during the period. State Street Corp lifted its holdings in Installed Building Products by 8.4% in the third 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. FIL Ltd lifted its holdings in Installed Building Products by 14.0% in the fourth quarter. FIL Ltd now owns 1,039,038 shares of the construction company’s stock worth $182,091,000 after purchasing an additional 127,215 shares during the period. FMR LLC lifted its holdings in Installed Building Products by 61.5% in the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after purchasing an additional 367,628 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Installed Building Products by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 633,556 shares of the construction company’s stock worth $111,053,000 after purchasing an additional 10,553 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.