Equities analysts forecast that Installed Building Products Inc (NYSE:IBP) will post sales of $383.53 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Installed Building Products’ earnings, with the highest sales estimate coming in at $392.90 million and the lowest estimate coming in at $372.50 million. Installed Building Products reported sales of $349.00 million during the same quarter last year, which indicates a positive year over year growth rate of 9.9%. The company is scheduled to report its next quarterly earnings results on Thursday, November 7th.
According to Zacks, analysts expect that Installed Building Products will report full-year sales of $1.48 billion for the current year, with estimates ranging from $1.45 billion to $1.50 billion. For the next year, analysts forecast that the company will post sales of $1.59 billion, with estimates ranging from $1.56 billion to $1.65 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Installed Building Products.
Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, August 8th. The construction company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $371.80 million for the quarter, compared to analyst estimates of $367.03 million. Installed Building Products had a return on equity of 43.59% and a net margin of 4.22%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the company earned $0.78 earnings per share.
A number of brokerages have recently commented on IBP. Deutsche Bank raised their price target on Installed Building Products from $47.00 to $55.00 and gave the company a “positive” rating in a report on Monday, May 6th. Royal Bank of Canada set a $50.00 price target on Installed Building Products and gave the company a “hold” rating in a report on Friday, May 3rd. Zacks Investment Research raised Installed Building Products from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Tuesday, July 9th. SunTrust Banks raised their price target on Installed Building Products from $50.00 to $54.00 and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Nomura raised their price target on Installed Building Products from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $47.97.
In related news, Director Vikas Verma sold 40,000 shares of Installed Building Products stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $57.50, for a total transaction of $2,300,000.00. Following the transaction, the director now directly owns 191,935 shares of the company’s stock, valued at $11,036,262.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Michael Thomas Miller sold 27,404 shares of Installed Building Products stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $57.55, for a total value of $1,577,100.20. Following the transaction, the vice president now directly owns 35,973 shares in the company, valued at $2,070,246.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 112,457 shares of company stock worth $6,307,749. 25.20% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in IBP. First Quadrant L P CA acquired a new position in shares of Installed Building Products in the 1st quarter valued at $94,000. Tower Research Capital LLC TRC boosted its position in shares of Installed Building Products by 527.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,588 shares of the construction company’s stock valued at $94,000 after purchasing an additional 1,335 shares during the period. Quantamental Technologies LLC boosted its position in shares of Installed Building Products by 40.1% in the 1st quarter. Quantamental Technologies LLC now owns 2,794 shares of the construction company’s stock valued at $136,000 after purchasing an additional 800 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of Installed Building Products in the 1st quarter valued at $151,000. Finally, NumerixS Investment Technologies Inc boosted its position in shares of Installed Building Products by 50.0% in the 1st quarter. NumerixS Investment Technologies Inc now owns 3,600 shares of the construction company’s stock valued at $174,000 after purchasing an additional 1,200 shares during the period. 70.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of IBP opened at $56.66 on Wednesday. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 1.17 and a beta of 1.23. The company has a debt-to-equity ratio of 2.44, a current ratio of 2.24 and a quick ratio of 1.91. Installed Building Products has a one year low of $29.24 and a one year high of $59.93. The company’s fifty day simple moving average is $55.16.
About Installed Building Products
Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, 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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