1 Dividend Growth Stock to Buy Hand Over Fist
With its average of 25% sales growth annually over the last decade, it may be no surprise that insulation specialist Installed Building Products (NYSE: IBP) has seen its total return rise ten-fold over the same time. However, despite this incredible run, IBP's meteoric stock rise paused as the company recently reported a 2% decline in sales in the third quarter.
In the face of a confluence of headwinds, such as rising interest rates slowing the housing market, higher inflation, and lapping 40% sales growth in 2022, IBP's valuation dipped to once-in-a-decade levels as its stock price slid over 10%.
So this begs the question: Is this growth slowdown the new normal -- making a reduced valuation necessary? Or is IBP trading at a temporary discount and now poised to continue beating the market from these friendlier prices?
Source Fool.com
