Zacks: Analysts Expect Installed Building Products, Inc. (IBP) Will Post Earnings of $0.66 Per Share
Equities research analysts expect Installed Building Products, Inc. (NYSE:IBP) to announce earnings of $0.66 per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Installed Building Products’ earnings, with the highest EPS estimate coming in at $0.69 and the lowest estimate coming in at $0.63. Installed Building Products reported earnings of $0.44 per share during the same quarter last year, which indicates a positive year over year growth rate of 50%. The company is scheduled to announce its next earnings report on Friday, November 3rd.
On average, analysts expect that Installed Building Products will report full year earnings of $2.24 per share for the current year, with EPS estimates ranging from $2.18 to $2.30. For the next year, analysts anticipate that the business will post earnings of $2.76 per share, with EPS estimates ranging from $2.63 to $2.95. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Installed Building Products.
Installed Building Products (NYSE:IBP) last released its earnings results on Friday, November 3rd. The construction company reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.07). Installed Building Products had a return on equity of 25.27% and a net margin of 4.11%. The business had revenue of $295.20 million for the quarter, compared to the consensus estimate of $292.51 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The company’s revenue for the quarter was up 31.0% on a year-over-year basis.
IBP has been the subject of several recent analyst reports. KeyCorp reissued a “hold” rating on shares of Installed Building Products in a report on Wednesday. Zacks Investment Research upgraded Installed Building Products from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research report on Friday, October 6th. Credit Suisse Group set a $73.00 price objective on Installed Building Products and gave the company an “outperform” rating in a research report on Tuesday, October 17th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $65.00 price objective on shares of Installed Building Products in a research report on Friday. Finally, Royal Bank Of Canada restated a “buy” rating and set a $69.00 target price on shares of Installed Building Products in a report on Monday, October 16th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $67.17.
Shares of Installed Building Products (NYSE:IBP) traded down $2.30 during trading on Friday, reaching $64.85. The company had a trading volume of 320,379 shares, compared to its average volume of 118,900. The company has a quick ratio of 1.98, a current ratio of 2.28 and a debt-to-equity ratio of 1.81. The company has a market cap of $2,066.32, a PE ratio of 49.50 and a beta of 0.84. Installed Building Products has a fifty-two week low of $33.20 and a fifty-two week high of $70.25.
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In other news, COO Jay P. Elliott sold 2,500 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $64.61, for a total value of $161,525.00. Following the sale, the chief operating officer now directly owns 51,312 shares of the company’s stock, valued at $3,315,268.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director J Michael Nixon sold 50,000 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $65.00, for a total value of $3,250,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 168,459 shares of company stock worth $10,366,576. Insiders own 32.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA grew its stake in shares of Installed Building Products by 75.0% in the third quarter. BNP Paribas Arbitrage SA now owns 10,759 shares of the construction company’s stock worth $697,000 after acquiring an additional 4,611 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Installed Building Products by 3.7% in the third quarter. Prudential Financial Inc. now owns 35,330 shares of the construction company’s stock worth $2,289,000 after acquiring an additional 1,260 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Installed Building Products by 0.7% in the third quarter. American Century Companies Inc. now owns 116,938 shares of the construction company’s stock worth $7,578,000 after acquiring an additional 782 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Installed Building Products by 55.3% in the third quarter. State Board of Administration of Florida Retirement System now owns 8,500 shares of the construction company’s stock worth $551,000 after acquiring an additional 3,026 shares during the last quarter. Finally, Legato Capital Management LLC purchased a new stake in shares of Installed Building Products in the third quarter worth $477,000. 65.52% of the stock is currently owned by hedge funds and other institutional investors.
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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