Installed Building Products Inc (IBP) Expected to Post Quarterly Sales of $303.20 Million

Wall Street brokerages expect that Installed Building Products Inc (NYSE:IBP) will post $303.20 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided 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 posted sales of $233.98 million in the same quarter last year, which would indicate a positive year over year growth rate of 29.6%. The business is scheduled to report its next quarterly earnings report on Monday, February 26th.

According to Zacks, analysts expect that Installed Building Products will report full year sales of $303.20 million for the current year, with estimates ranging from $1.13 billion to $1.14 billion. For the next year, analysts expect that the firm will post sales of $1.29 billion per share, with estimates ranging from $1.27 billion to $1.31 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Installed Building Products.

Installed Building Products (NYSE:IBP) last released its earnings results on Friday, November 3rd. The construction company reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.07). The company 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%. Installed Building Products’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS.

Several equities research analysts have recently weighed in on the stock. Zelman & Associates downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Credit Suisse Group reissued an “outperform” rating and issued a $85.00 target price (up previously from $73.00) on shares of Installed Building Products in a research report on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research raised shares of Installed Building Products from a “hold” rating to a “strong-buy” rating and set a $83.00 target price for the company in a research report on Thursday. Jefferies Group assumed coverage on shares of Installed Building Products in a research report on Tuesday, December 12th. They issued a “hold” rating and a $69.00 target price for the company. Finally, KeyCorp reissued a “hold” rating on shares of Installed Building Products in a research report on Wednesday, November 1st. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Installed Building Products currently has a consensus rating of “Buy” and a consensus price target of $70.57.

In other Installed Building Products news, Director Vikas Verma purchased 3,318 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was acquired at an average cost of $59.98 per share, with a total value of $199,013.64. Following the acquisition, the director now owns 230,251 shares of the company’s stock, valued at approximately $13,810,454.98. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jay P. Elliott sold 3,000 shares of Installed Building Products stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $73.50, for a total transaction of $220,500.00. Following the completion of the transaction, the chief operating officer now directly owns 48,312 shares of the company’s stock, valued at $3,550,932. The disclosure for this sale can be found here. Insiders sold a total of 273,000 shares of company stock valued at $20,239,000 over the last ninety days. Company insiders own 32.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of IBP. GW&K Investment Management LLC acquired a new position in shares of Installed Building Products in the 4th quarter valued at about $21,124,000. Russell Investments Group Ltd. boosted its holdings in shares of Installed Building Products by 118.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 257,460 shares of the construction company’s stock valued at $16,684,000 after buying an additional 139,833 shares during the period. BlackRock Inc. boosted its holdings in shares of Installed Building Products by 3.1% in the 2nd quarter. BlackRock Inc. now owns 2,829,787 shares of the construction company’s stock valued at $149,836,000 after buying an additional 84,555 shares during the period. Stifel Financial Corp boosted its holdings in shares of Installed Building Products by 31.5% in the 3rd quarter. Stifel Financial Corp now owns 233,388 shares of the construction company’s stock valued at $15,105,000 after buying an additional 55,924 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Installed Building Products by 5.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 852,519 shares of the construction company’s stock valued at $55,243,000 after buying an additional 42,938 shares during the period. 66.04% of the stock is owned by institutional investors and hedge funds.

Shares of Installed Building Products (NYSE:IBP) opened at $66.80 on Friday. The firm has a market cap of $2,270.21, a PE ratio of 50.99 and a beta of 0.69. Installed Building Products has a 1 year low of $40.10 and a 1 year high of $79.40. The company has a debt-to-equity ratio of 1.70, a current ratio of 2.22 and a quick ratio of 1.93.

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Installed Building Products Company Profile

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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