Analysts expect Installed Building Products Inc (NYSE:IBP) to post $350.39 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Installed Building Products’ earnings. The highest sales estimate is $355.80 million and the lowest is $340.28 million. Installed Building Products posted sales of $299.87 million during the same quarter last year, which suggests a positive year-over-year growth rate of 16.8%. The business is scheduled to report its next quarterly earnings report on Wednesday, February 27th.
According to Zacks, analysts expect that Installed Building Products will report full-year sales of $1.33 billion for the current financial year, with estimates ranging from $1.32 billion to $1.34 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.48 billion, with estimates ranging from $1.42 billion to $1.52 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Installed Building Products.
Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Thursday, November 1st. The construction company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.07). Installed Building Products had a return on equity of 29.03% and a net margin of 3.82%. The company had revenue of $349.00 million for the quarter, compared to analysts’ expectations of $346.39 million. During the same quarter in the prior year, the business posted $0.57 EPS. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year.
IBP has been the topic of a number of research analyst reports. Royal Bank of Canada set a $46.00 price target on Installed Building Products and gave the stock a “buy” rating in a research note on Friday, November 2nd. Credit Suisse Group reiterated a “neutral” rating and set a $40.00 target price on shares of Installed Building Products in a report on Wednesday, October 17th. Seaport Global Securities downgraded Installed Building Products from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Friday, November 2nd. Nomura dropped their target price on Installed Building Products from $58.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. Finally, Deutsche Bank downgraded Installed Building Products from a “buy” rating to a “hold” rating and dropped their target price for the company from $44.00 to $38.00 in a report on Tuesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $51.36.
NYSE:IBP traded up $0.22 during mid-day trading on Wednesday, reaching $35.51. The company’s stock had a trading volume of 402,702 shares, compared to its average volume of 291,687. The company has a current ratio of 2.59, a quick ratio of 2.30 and a debt-to-equity ratio of 2.04. Installed Building Products has a twelve month low of $29.24 and a twelve month high of $78.15. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 1.12 and a beta of 1.14.
In other news, CEO Jeffrey W. Edwards sold 150,000 shares of the company’s stock in a transaction on Monday, November 5th. The stock was 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 owns 300,159 shares in the company, valued at $10,238,423.49. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 31.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. NumerixS Investment Technologies Inc acquired a new stake in shares of Installed Building Products in the second quarter valued at $146,000. Tower Research Capital LLC TRC acquired a new stake in shares of Installed Building Products during the second quarter worth $196,000. Amalgamated Bank acquired a new stake in shares of Installed Building Products during the second quarter worth $202,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Installed Building Products during the second quarter worth $219,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Installed Building Products during the second quarter worth $249,000. Institutional investors and hedge funds own 71.15% of the company’s stock.
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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