Installed Building Products (NYSE:IBP) Shares Gap Down – What’s Next?

Installed Building Products, Inc. (NYSE:IBP) gapped down prior to trading on Friday . The stock had previously closed at $170.37, but opened at $166.02. Installed Building Products shares last traded at $167.48, with a volume of 12,171 shares trading hands.

Wall Street Analysts Forecast Growth

IBP has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft started coverage on Installed Building Products in a research note on Tuesday, April 1st. They issued a “hold” rating and a $183.00 price target for the company. The Goldman Sachs Group decreased their price target on 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. Benchmark dropped their price target on Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Truist Financial reduced their price objective on shares of 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, Loop Capital decreased their target price on shares of Installed Building Products from $230.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $216.09.

Installed Building Products Stock Performance

The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 18.46 and a beta of 1.84. 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’s 50-day moving average is $173.67 and its 200-day moving average is $198.20.

Installed Building Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 0.89%. Installed Building Products’s dividend payout ratio is 16.26%.

Institutional Investors Weigh In On Installed Building Products

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position 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 valued at $462,100,000 after purchasing an additional 16,597 shares during the last quarter. FIL Ltd raised its holdings in Installed Building Products by 14.0% in the 4th quarter. FIL Ltd now owns 1,039,038 shares of the construction company’s stock valued at $182,091,000 after buying an additional 127,215 shares during the last quarter. Geode Capital Management LLC boosted its position in Installed Building Products by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 633,556 shares of the construction company’s stock worth $111,053,000 after buying an additional 10,553 shares during the period. Giverny Capital Inc. grew its holdings in Installed Building Products by 3.6% during the 4th quarter. Giverny Capital Inc. now owns 504,735 shares of the construction company’s stock worth $88,455,000 after acquiring an additional 17,620 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Installed Building Products by 69.8% in the 4th quarter. First Trust Advisors LP now owns 485,727 shares of the construction company’s stock valued at $85,124,000 after acquiring an additional 199,657 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Company Profile

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.