Equities research analysts expect that Installed Building Products Inc (NYSE:IBP) will announce $0.64 earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Installed Building Products’ earnings. The highest EPS estimate is $0.71 and the lowest is $0.58. Installed Building Products posted earnings of $0.52 per share during the same quarter last year, which indicates a positive year over year growth rate of 23.1%. The business is expected to report its next quarterly earnings results on Wednesday, February 27th.
According to Zacks, analysts expect that Installed Building Products will report full year earnings of $2.62 per share for the current financial year, with EPS estimates ranging from $2.53 to $2.71. For the next year, analysts anticipate that the firm will post earnings of $2.95 per share, with EPS estimates ranging from $2.68 to $3.15. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Installed Building Products.
Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, November 1st. The construction company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.07). The business had revenue of $349.00 million during the quarter, compared to analyst estimates of $346.39 million. Installed Building Products had a net margin of 3.82% and a return on equity of 29.03%. The business’s revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 earnings per share.
A number of equities analysts have recently commented on the stock. Deutsche Bank cut shares of Installed Building Products from a “buy” rating to a “hold” rating and cut their target price for the company from $44.00 to $38.00 in a report on Tuesday. Nomura cut their target price on shares of Installed Building Products from $58.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. Credit Suisse Group set a $38.00 target price on shares of Installed Building Products and gave the company a “hold” rating in a report on Friday, November 2nd. Royal Bank of Canada set a $46.00 price objective on shares of Installed Building Products and gave the company a “buy” rating in a research note on Friday, November 2nd. Finally, Seaport Global Securities cut shares of Installed Building Products from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Friday, November 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Installed Building Products has a consensus rating of “Hold” and a consensus price target of $51.36.
Shares of Installed Building Products stock traded up $0.22 during trading on Monday, reaching $35.51. The company’s stock had a trading volume of 402,702 shares, compared to its average volume of 291,687. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 1.12 and a beta of 1.14. Installed Building Products has a fifty-two week low of $29.24 and a fifty-two week high of $78.15. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.59 and a quick ratio of 2.30.
In other Installed Building Products news, CEO Jeffrey W. Edwards sold 150,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 300,159 shares of the company’s stock, valued at approximately $10,238,423.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 31.10% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Alps Advisors Inc. acquired a new position in Installed Building Products in the 2nd quarter valued at $614,000. NumerixS Investment Technologies Inc acquired a new position in Installed Building Products in the 2nd quarter valued at $146,000. FMR LLC boosted its position in shares of Installed Building Products by 150.4% during the 2nd quarter. FMR LLC now owns 426,005 shares of the construction company’s stock worth $24,090,000 after purchasing an additional 255,900 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of Installed Building Products during the 2nd quarter worth $202,000. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of Installed Building Products by 6.8% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 31,970 shares of the construction company’s stock worth $1,247,000 after purchasing an additional 2,023 shares in the last quarter. 71.15% of the stock is currently owned by institutional investors.
About Installed Building Products
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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