Brokerages expect Installed Building Products Inc (NYSE:IBP) to post earnings of $0.69 per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Installed Building Products’ earnings. The lowest EPS estimate is $0.65 and the highest is $0.71. Installed Building Products posted earnings per share of $0.52 during the same quarter last year, which would suggest a positive year over year growth rate of 32.7%. The business is scheduled to announce its next earnings report on Wednesday, February 27th.
According to Zacks, analysts expect that Installed Building Products will report full year earnings of $2.66 per share for the current fiscal year, with EPS estimates ranging from $2.60 to $2.74. For the next fiscal year, analysts expect that the company will report earnings of $3.10 per share, with EPS estimates ranging from $2.93 to $3.25. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Installed Building Products.
Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Thursday, November 1st. The construction company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.07). The company had revenue of $349.00 million during 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 business’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share.
A number of analysts recently weighed in on IBP shares. Nomura decreased their price target on shares of Installed Building Products from $58.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Royal Bank of Canada set a $46.00 price objective on shares of Installed Building Products and gave the stock a “buy” rating in a research report on Friday, November 2nd. Stephens restated a “buy” rating and set a $65.00 price objective on shares of Installed Building Products in a research report on Wednesday, August 8th. Jefferies Financial Group restated a “buy” rating and set a $71.00 price objective on shares of Installed Building Products in a research report on Friday, August 3rd. Finally, TheStreet downgraded shares of Installed Building Products from a “b” rating to a “c+” rating in a research report on Thursday, October 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $52.70.
NYSE:IBP traded down $0.34 during trading hours on Friday, reaching $35.85. 254,095 shares of the company’s stock were exchanged, compared to its average volume of 451,961. The stock has a market cap of $1.16 billion, a P/E ratio of 30.13, a P/E/G ratio of 1.18 and a beta of 1.08. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.59 and a quick ratio of 2.30. Installed Building Products has a 1-year low of $29.24 and a 1-year high of $79.40.
In related news, CEO Jeffrey W. Edwards sold 92,649 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $48.46, for a total value of $4,489,770.54. Following the completion of the sale, the chief executive officer now owns 300,159 shares of the company’s stock, valued at approximately $14,545,705.14. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jeffrey W. Edwards sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $34.11, for a total value of $5,116,500.00. Following the completion of the sale, the chief executive officer now directly owns 300,159 shares of the company’s stock, valued at approximately $10,238,423.49. The disclosure for this sale can be found here. Company insiders own 31.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. LPL Financial LLC boosted its holdings in shares of Installed Building Products by 55.7% during the 1st quarter. LPL Financial LLC now owns 4,479 shares of the construction company’s stock valued at $269,000 after purchasing an additional 1,602 shares during the last quarter. Xact Kapitalforvaltning AB bought a new stake in shares of Installed Building Products during the second quarter worth $219,000. Amalgamated Bank bought a new stake in shares of Installed Building Products during the second quarter worth $202,000. Alps Advisors Inc. bought a new stake in shares of Installed Building Products during the second quarter worth $614,000. Finally, Montag A & Associates Inc. grew its holdings in shares of Installed Building Products by 25.3% during the second quarter. Montag A & Associates Inc. now owns 34,633 shares of the construction company’s stock worth $1,958,000 after purchasing an additional 7,000 shares during the last quarter. 70.47% of the stock is owned by institutional investors and hedge funds.
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.
Featured Article: 52-Week High/Low Prices For Stock Selection
Get a free copy of the Zacks research report on Installed Building Products (IBP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Installed Building Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Installed Building Products and related companies with MarketBeat.com's FREE daily email newsletter.