Installed Building Products Inc (NYSE:IBP) – Equities research analysts at Seaport Global Securities reduced their Q3 2018 earnings per share (EPS) estimates for shares of Installed Building Products in a report issued on Wednesday, October 31st. Seaport Global Securities analyst M. Mccall now forecasts that the construction company will earn $0.79 per share for the quarter, down from their prior forecast of $0.83. Seaport Global Securities has a “Neutral” rating and a $37.00 price objective on the stock. Seaport Global Securities also issued estimates for Installed Building Products’ Q4 2018 earnings at $0.74 EPS, FY2018 earnings at $2.65 EPS and FY2019 earnings at $3.30 EPS.
Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, November 1st. The construction company reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.07). The business had revenue of $349.00 million for the quarter, compared to analysts’ expectations of $346.39 million. Installed Building Products had a return on equity of 29.03% and a net margin of 3.82%. The company’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 EPS.
Several other brokerages have also recently weighed in on IBP. Zacks Investment Research cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. ValuEngine upgraded shares of Installed Building Products from a “sell” rating to a “hold” rating in a research note on Wednesday, July 18th. Stephens reiterated a “buy” rating and set a $65.00 price target on shares of Installed Building Products in a research note on Wednesday, August 8th. Royal Bank of Canada set a $66.00 price target on shares of Installed Building Products and gave the stock a “buy” rating in a research note on Friday, August 3rd. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $71.00 price target on shares of Installed Building Products in a research note on Friday, August 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Installed Building Products currently has an average rating of “Hold” and a consensus price target of $52.70.
Shares of Installed Building Products stock opened at $35.16 on Friday. The firm has a market cap of $1.11 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 0.54 and a beta of 1.08. Installed Building Products has a 1-year low of $29.24 and a 1-year high of $79.40. The company has a debt-to-equity ratio of 2.04, a quick ratio of 2.50 and a current ratio of 2.59.
Several hedge funds have recently made changes to their positions in the company. NumerixS Investment Technologies Inc bought a new stake in Installed Building Products in the 2nd quarter valued at $146,000. Tower Research Capital LLC TRC bought a new stake in Installed Building Products in the 2nd quarter valued at $196,000. Amalgamated Bank bought a new stake in Installed Building Products in the 2nd quarter valued at $202,000. New England Research & Management Inc. bought a new stake in Installed Building Products in the 2nd quarter valued at $218,000. Finally, Xact Kapitalforvaltning AB bought a new stake in Installed Building Products in the 2nd quarter valued at $219,000. Hedge funds and other institutional investors own 69.99% of the company’s stock.
In other news, CEO Jeffrey W. Edwards sold 107,039 shares of the firm’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $52.30, for a total transaction of $5,598,139.70. Following the sale, the chief executive officer now directly owns 351,071 shares in the company, valued at approximately $18,361,013.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey W. Edwards sold 92,649 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $48.46, for a total transaction of $4,489,770.54. Following the sale, the chief executive officer now owns 300,159 shares in the company, valued at $14,545,705.14. The disclosure for this sale can be found here. 31.10% of the stock is owned by company insiders.
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, shower doors, closet shelving and mirrors, and other products in the continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.
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