Installed Building Products (NYSE:IBP) Shares Down 4.7% – Here’s What Happened

26 Nov 2024, 19:26 by Mitch Edgeman · The Markets Daily

Installed Building Products, Inc. (NYSE:IBP – Get Free Report) fell 4.7% on Tuesday . The company traded as low as $223.29 and last traded at $224.71. 18,222 shares traded hands during trading, a decline of 94% from the average session volume of 293,905 shares. The stock had previously closed at $235.76.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IBP. Truist Financial lifted their price objective on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, August 2nd. DA Davidson reduced their target price on Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Stephens reissued an “equal weight” rating and issued a $240.00 target price on shares of Installed Building Products in a report on Monday, August 5th. The Goldman Sachs Group boosted their target price on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $253.70.

Read Our Latest Report on IBP

Installed Building Products Stock Down 3.8 %

The firm’s 50-day simple moving average is $230.91 and its 200 day simple moving average is $222.92. The company has a market cap of $6.38 billion, a P/E ratio of 26.20 and a beta of 1.95. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s payout ratio is 15.56%.

Institutional Trading of Installed Building Products

Several institutional investors and hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new stake in shares of Installed Building Products in the 3rd quarter valued at $29,000. GHP Investment Advisors Inc. increased its position in shares of Installed Building Products by 185.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Installed Building Products by 152.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after buying an additional 140 shares in the last quarter. CWM LLC increased its position in shares of Installed Building Products by 32.1% in the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after buying an additional 62 shares in the last quarter. Finally, Quarry LP increased its position in shares of Installed Building Products by 953.3% in the 3rd quarter. Quarry LP now owns 316 shares of the construction company’s stock valued at $78,000 after buying an additional 286 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

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