Equities analysts predict that Installed Building Products, Inc. (NYSE:IBP) will announce sales of $289.93 million for the current quarter, Zacks reports. Four analysts have provided estimates for Installed Building Products’ earnings, with the highest sales estimate coming in at $305.23 million and the lowest estimate coming in at $279.00 million. Installed Building Products posted sales of $225.39 million in the same quarter last year, which would indicate a positive year over year growth rate of 28.6%. The firm is scheduled to report its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Installed Building Products will report full-year sales of $289.93 million for the current year, with estimates ranging from $1.11 billion to $1.16 billion. For the next year, analysts anticipate that the firm will report sales of $1.26 billion per share, with estimates ranging from $1.21 billion to $1.32 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Installed Building Products.
Installed Building Products (NYSE:IBP) last released its earnings results on Friday, August 4th. The construction company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.21. Installed Building Products had a net margin of 4.11% and a return on equity of 25.27%. The firm had revenue of $282.20 million for the quarter, compared to analyst estimates of $274.63 million. During the same period in the prior year, the firm earned $0.34 earnings per share. The business’s quarterly revenue was up 33.2% compared to the same quarter last year.
Several research firms recently commented on IBP. Zacks Investment Research
lowered Installed Building Products from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 10th. Royal Bank Of Canada reissued a “buy” rating and set a $69.00 price target on shares of Installed Building Products in a research report on Monday. BidaskClub raised Installed Building Products from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Credit Suisse Group set a $73.00 price target on Installed Building Products and gave the stock an “outperform” rating in a research report on Tuesday. Finally, KeyCorp reissued a “hold” rating on shares of Installed Building Products in a research report on Tuesday, September 26th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $67.60.
In other Installed Building Products news, COO Jay P. Elliott sold 2,500 shares of Installed Building Products stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $64.61, for a total transaction of $161,525.00. Following the sale, the chief operating officer now directly owns 51,312 shares in the company, valued at approximately $3,315,268.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd R. Fry sold 1,000 shares of Installed Building Products stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $58.00, for a total value of $58,000.00. Following the sale, the insider now owns 4,091 shares in the company, valued at $237,278. The disclosure for this sale can be found here. Insiders have sold a total of 168,546 shares of company stock worth $10,371,796 over the last three months. 32.90% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Scout Investments Inc. increased its holdings in Installed Building Products by 27.0% during the 2nd quarter. Scout Investments Inc. now owns 68,600 shares of the construction company’s stock worth $3,632,000 after purchasing an additional 14,600 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in Installed Building Products by 7.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 28,870 shares of the construction company’s stock worth $1,527,000 after purchasing an additional 1,905 shares during the last quarter. NorthCoast Asset Management LLC increased its holdings in Installed Building Products by 83.5% during the 2nd quarter. NorthCoast Asset Management LLC now owns 52,407 shares of the construction company’s stock worth $2,775,000 after purchasing an additional 23,845 shares during the last quarter. Prudential Financial Inc. increased its holdings in Installed Building Products by 0.6% during the 1st quarter. Prudential Financial Inc. now owns 34,530 shares of the construction company’s stock worth $1,821,000 after purchasing an additional 220 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Installed Building Products by 19.0% during the 2nd quarter. American Century Companies Inc. now owns 116,156 shares of the construction company’s stock worth $6,150,000 after purchasing an additional 18,515 shares during the last quarter. Institutional investors own 65.60% of the company’s stock.
Installed Building Products (IBP) traded up 0.61% during mid-day trading on Thursday, hitting $65.85. 38,197 shares of the company were exchanged. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 50.58 and a beta of 0.83. The firm has a 50 day moving average price of $61.39 and a 200 day moving average price of $54.84. Installed Building Products has a 12 month low of $30.75 and a 12 month high of $67.15.
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About Installed Building Products
Installed Building Products, Inc is a holding company. The Company is a residential insulation installer in the United States. As of December 31, 2016, the Company’s national platform included over 100 locations accessing customers in 48 continental states and the District of Columbia. The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors, which provides cross-selling opportunities to supplement the insulation installation business.
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