Installed Building Products (NYSE:IBP) Shares Gap Up – Still a Buy?

Installed Building Products, Inc. (NYSE:IBP) gapped up before the market opened on Wednesday . The stock had previously closed at $162.40, but opened at $175.67. Installed Building Products shares last traded at $169.72, with a volume of 14,852 shares traded.

Analysts Set New Price Targets

IBP has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their price objective on shares of 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. StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Truist Financial dropped their price objective 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. Benchmark reduced their target price 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. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Installed Building Products in a research note on Tuesday, April 1st. They issued a “hold” rating and a $183.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Installed Building Products currently has an average rating of “Hold” and a consensus target price of $216.09.

Installed Building Products Price Performance

The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $4.70 billion, a P/E ratio of 18.92 and a beta of 1.84. The company’s fifty day moving average price is $169.42 and its 200 day moving average price is $192.95.

Installed Building Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.37 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.87%. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s dividend payout ratio (DPR) is presently 16.26%.

Hedge Funds Weigh In On Installed Building Products

Several hedge funds and other institutional investors have recently made changes to their positions in IBP. Arizona State Retirement System raised its position in Installed Building Products by 0.8% during the fourth quarter. Arizona State Retirement System now owns 6,966 shares of the construction company’s stock valued at $1,221,000 after purchasing an additional 56 shares in the last quarter. McIlrath & Eck LLC raised its holdings in shares of Installed Building Products by 32.3% during the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock worth $44,000 after buying an additional 61 shares in the last quarter. Dana Investment Advisors Inc. lifted its position in shares of Installed Building Products by 0.9% during the 4th quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company’s stock worth $1,363,000 after buying an additional 71 shares during the last quarter. State of Wyoming boosted its stake in Installed Building Products by 10.1% in the fourth quarter. State of Wyoming now owns 840 shares of the construction company’s stock valued at $147,000 after buying an additional 77 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its position in Installed Building Products by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,507 shares of the construction company’s stock valued at $439,000 after acquiring an additional 79 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.