Equities analysts expect that Installed Building Products, Inc. (NYSE:IBP) will report sales of $303.89 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Installed Building Products’ earnings, with the lowest sales estimate coming in at $296.50 million and the highest estimate coming in at $309.93 million. Installed Building Products reported sales of $233.98 million during the same quarter last year, which would suggest a positive year over year growth rate of 29.9%. The firm is scheduled to report its next earnings results on Monday, February 26th.
According to Zacks, analysts expect that Installed Building Products will report full year sales of $303.89 million for the current year, with estimates ranging from $1.13 billion to $1.14 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.28 billion per share, with estimates ranging from $1.27 billion to $1.31 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Installed Building Products.
Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Friday, November 3rd. The construction company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.07). The firm had revenue of $295.20 million during the quarter, compared to the consensus estimate of $292.51 million. Installed Building Products had a return on equity of 23.40% and a net margin of 3.88%. The firm’s revenue was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.38 EPS.
Installed Building Products (NYSE:IBP) opened at $68.90 on Thursday. The stock has a market capitalization of $2,224.01, a P/E ratio of 53.28 and a beta of 0.87. The company has a quick ratio of 1.93, a current ratio of 2.22 and a debt-to-equity ratio of 1.70. Installed Building Products has a fifty-two week low of $39.95 and a fifty-two week high of $79.40.
In other news, CEO Jeffrey W. Edwards sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $74.25, for a total value of $14,850,000.00. Following the transaction, the chief executive officer now owns 504,800 shares in the company, valued at $37,481,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J Michael Nixon sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were 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. Insiders sold 413,781 shares of company stock worth $28,617,254 in the last 90 days. Corporate insiders own 32.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Installed Building Products by 3.1% during the second quarter. BlackRock Inc. now owns 2,829,787 shares of the construction company’s stock worth $149,836,000 after acquiring an additional 84,555 shares during the period. Wasatch Advisors Inc. lifted its holdings in Installed Building Products by 3.9% during the second quarter. Wasatch Advisors Inc. now owns 1,104,994 shares of the construction company’s stock worth $58,509,000 after acquiring an additional 41,236 shares during the period. Vanguard Group Inc. lifted its holdings in Installed Building Products by 3.7% during the second quarter. Vanguard Group Inc. now owns 1,046,278 shares of the construction company’s stock worth $55,400,000 after acquiring an additional 37,019 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Installed Building Products by 5.3% during the third quarter. Dimensional Fund Advisors LP now owns 852,519 shares of the construction company’s stock worth $55,243,000 after acquiring an additional 42,938 shares during the period. Finally, State Street Corp lifted its holdings in Installed Building Products by 7.2% during the second quarter. State Street Corp now owns 584,897 shares of the construction company’s stock worth $30,963,000 after acquiring an additional 39,302 shares during the period. Institutional investors and hedge funds own 65.91% of the company’s stock.
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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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