$0.67 Earnings Per Share Expected for Installed Building Products, Inc. (IBP) This Quarter
Equities analysts forecast that Installed Building Products, Inc. (NYSE:IBP) will announce $0.67 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Installed Building Products’ earnings, with estimates ranging from $0.61 to $0.73. Installed Building Products posted earnings of $0.38 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 76.3%. The business is scheduled to announce its next earnings results on Thursday, November 2nd.
On average, analysts expect that Installed Building Products will report full year earnings of $2.28 per share for the current year, with EPS estimates ranging from $2.18 to $2.40. For the next fiscal year, analysts anticipate that the company will report earnings of $2.83 per share, with EPS estimates ranging from $2.63 to $3.10. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Installed Building Products.
Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Friday, August 4th. The construction company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.38 by $0.21. The company had revenue of $282.20 million during the quarter, compared to analysts’ expectations of $274.63 million. Installed Building Products had a net margin of 4.11% and a return on equity of 25.27%. Installed Building Products’s revenue for the quarter was up 33.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 earnings per share.
Several equities research analysts recently issued reports on IBP shares. Royal Bank Of Canada increased their target price on shares of Installed Building Products from $53.00 to $61.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. BidaskClub raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Credit Suisse Group started coverage on shares of Installed Building Products in a report on Thursday, June 22nd. They issued an “outperform” rating and a $61.00 target price for the company. Zacks Investment Research raised shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Deutsche Bank AG increased their target price on shares of Installed Building Products from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, August 21st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $59.80.
In other Installed Building Products news, insider Todd R. Fry sold 1,000 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $58.00, for a total transaction of $58,000.00. Following the completion of the sale, the insider now directly owns 4,091 shares of the company’s stock, valued at approximately $237,278. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Michael Thomas Miller sold 1,661 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $60.00, for a total transaction of $99,660.00. Following the sale, the vice president now directly owns 32,086 shares of the company’s stock, valued at $1,925,160. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 607,265 shares of company stock valued at $31,915,292. Insiders own 32.90% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in IBP. Teachers Advisors LLC grew its holdings in Installed Building Products by 4.9% during the 4th quarter. Teachers Advisors LLC now owns 36,693 shares of the construction company’s stock valued at $1,515,000 after buying an additional 1,707 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in Installed Building Products by 2.5% during the 1st quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the construction company’s stock valued at $433,000 after buying an additional 200 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Installed Building Products by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 2,210 shares of the construction company’s stock valued at $116,000 after buying an additional 60 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in Installed Building Products by 3.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 26,965 shares of the construction company’s stock valued at $1,420,000 after buying an additional 935 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in Installed Building Products by 21.6% during the 1st quarter. First Trust Advisors LP now owns 62,641 shares of the construction company’s stock valued at $3,304,000 after buying an additional 11,127 shares in the last quarter. 65.60% of the stock is owned by institutional investors and hedge funds.
Shares of Installed Building Products (NYSE:IBP) traded up 1.32% during trading on Friday, reaching $57.50. 88,282 shares of the company traded hands. The company’s 50-day moving average price is $55.72 and its 200-day moving average price is $52.10. The company has a market capitalization of $1.82 billion, a P/E ratio of 44.16 and a beta of 0.80. Installed Building Products has a 52 week low of $30.75 and a 52 week high of $60.00.
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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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