Equities research analysts expect that Installed Building Products, Inc. (NYSE:IBP) will post sales of $291.06 million for the current quarter, according to Zacks. Four analysts have issued estimates for Installed Building Products’ earnings, with the highest sales estimate coming in at $305.23 million and the lowest estimate coming in at $283.50 million. Installed Building Products reported sales of $225.39 million during the same quarter last year, which indicates a positive year over year growth rate of 29.1%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 2nd.

According to Zacks, analysts expect that Installed Building Products will report full-year sales of $291.06 million for the current financial year, with estimates ranging from $1.11 billion to $1.16 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.26 billion per share, with estimates ranging from $1.21 billion to $1.32 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Installed Building Products.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Friday, August 4th. The construction company reported $0.59 earnings per share for the quarter, topping the Zacks’ 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%. The firm’s revenue for the quarter was up 33.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 earnings per share.

Several equities research analysts have commented on the stock. BidaskClub lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Zacks Investment Research upgraded shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Credit Suisse Group assumed coverage on shares of Installed Building Products in a research report on Thursday, June 22nd. They set an “outperform” rating and a $61.00 target price on the stock. Royal Bank Of Canada boosted their target price on shares of Installed Building Products from $61.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. Finally, Deutsche Bank AG boosted their target price on shares of Installed Building Products from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, August 21st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $59.80.

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In other news, VP Michael Thomas Miller sold 1,661 shares of Installed Building Products stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $60.00, for a total transaction of $99,660.00. Following the completion of the transaction, the vice president now owns 32,086 shares of the company’s stock, valued at approximately $1,925,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jay P. Elliott sold 2,500 shares of Installed Building Products stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $52.90, for a total value of $132,250.00. Following the transaction, the chief operating officer now directly owns 53,812 shares of the company’s stock, valued at approximately $2,846,654.80. The disclosure for this sale can be found here. Insiders have sold a total of 607,265 shares of company stock valued at $31,915,292 in the last ninety days. Corporate insiders own 32.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in IBP. Teachers Advisors LLC raised its stake in shares of Installed Building Products by 4.9% during the 4th quarter. Teachers Advisors LLC now owns 36,693 shares of the construction company’s stock worth $1,515,000 after buying an additional 1,707 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of 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 worth $433,000 after buying an additional 200 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of 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 worth $116,000 after buying an additional 60 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of 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 worth $1,420,000 after buying an additional 935 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of 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 worth $3,304,000 after buying an additional 11,127 shares during the last quarter. 65.60% of the stock is owned by institutional investors and hedge funds.

Installed Building Products (NYSE:IBP) opened at 57.50 on Monday. Installed Building Products has a 52-week low of $30.75 and a 52-week high of $60.00. The firm has a market capitalization of $1.82 billion, a PE ratio of 44.16 and a beta of 0.80. The firm’s 50-day moving average is $55.72 and its 200-day moving average is $52.10.

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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