Zacks: Analysts Expect Installed Building Products Inc (IBP) Will Announce Earnings of $0.80 Per Share

Analysts expect Installed Building Products Inc (NYSE:IBP) to announce earnings of $0.80 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Installed Building Products’ earnings, with the highest EPS estimate coming in at $0.83 and the lowest estimate coming in at $0.76. Installed Building Products posted earnings per share of $0.57 in the same quarter last year, which indicates a positive year over year growth rate of 40.4%. The company is expected to announce its next earnings results on Friday, November 2nd.

On average, analysts expect that Installed Building Products will report full year earnings of $2.76 per share for the current year, with EPS estimates ranging from $2.66 to $2.85. For the next financial year, analysts forecast that the business will post earnings of $3.36 per share, with EPS estimates ranging from $3.25 to $3.55. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Installed Building Products.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, August 2nd. The construction company reported $0.78 EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.03). Installed Building Products had a net margin of 3.70% and a return on equity of 24.57%. The company had revenue of $332.60 million during the quarter, compared to analyst estimates of $334.24 million. During the same quarter last year, the company posted $0.59 EPS. The firm’s quarterly revenue was up 17.9% on a year-over-year basis.

IBP has been the topic of a number of research reports. Royal Bank of Canada set a $66.00 price target on shares of Installed Building Products and gave the company a “buy” rating in a research note on Friday, August 3rd. Zelman & Associates lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Tuesday, August 21st. Jefferies Financial Group restated a “buy” rating and set a $71.00 target price on shares of Installed Building Products in a research report on Friday, August 3rd. ValuEngine lowered shares of Installed Building Products from a “hold” rating to a “sell” rating in a research report on Wednesday, July 4th. Finally, Evercore ISI started coverage on shares of Installed Building Products in a research report on Thursday, June 28th. They set an “in-line” rating and a $65.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $70.67.

IBP traded up $1.60 on Wednesday, reaching $50.40. The company had a trading volume of 184,800 shares, compared to its average volume of 227,441. Installed Building Products has a fifty-two week low of $45.04 and a fifty-two week high of $79.40. The firm has a market cap of $1.48 billion, a P/E ratio of 42.35, a price-to-earnings-growth ratio of 0.71 and a beta of 0.77. The company has a debt-to-equity ratio of 2.04, a quick ratio of 2.50 and a current ratio of 2.80.

In other Installed Building Products news, CEO Jeffrey W. Edwards sold 92,649 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $48.46, for a total transaction of $4,489,770.54. Following the transaction, the chief executive officer now owns 300,159 shares in the company, valued at approximately $14,545,705.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Vikas Verma bought 7,000 shares of the firm’s stock in a transaction on Thursday, June 14th. The shares were acquired at an average price of $61.25 per share, for a total transaction of $428,750.00. Following the transaction, the director now owns 240,860 shares in the company, valued at $14,752,675. The disclosure for this purchase can be found here. Corporate insiders own 31.10% of the company’s stock.

Several large investors have recently made changes to their positions in IBP. Millennium Management LLC acquired a new stake in shares of Installed Building Products during the 4th quarter worth approximately $247,000. Rhumbline Advisers boosted its position in shares of Installed Building Products by 2.5% during the 1st quarter. Rhumbline Advisers now owns 49,367 shares of the construction company’s stock worth $2,964,000 after acquiring an additional 1,200 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Installed Building Products during the 1st quarter worth approximately $316,000. Virginia Retirement Systems ET AL acquired a new stake in shares of Installed Building Products during the 1st quarter worth approximately $222,000. Finally, Neuberger Berman Group LLC boosted its position in shares of Installed Building Products by 27.5% during the 1st quarter. Neuberger Berman Group LLC now owns 707,005 shares of the construction company’s stock worth $42,456,000 after acquiring an additional 152,405 shares in the last quarter. Hedge funds and other institutional investors own 70.03% of the company’s stock.

Installed Building Products Company Profile

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, shower doors, closet shelving and mirrors, and other products in the continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

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