Q3 2020 Earnings Forecast for Installed Building Products Inc Issued By Jefferies Financial Group (NYSE:IBP)

Installed Building Products Inc (NYSE:IBP) – Analysts at Jefferies Financial Group upped their Q3 2020 earnings per share estimates for Installed Building Products in a report released on Wednesday, October 14th. Jefferies Financial Group analyst P. Ng now anticipates that the construction company will post earnings of $1.23 per share for the quarter, up from their prior estimate of $1.15. Jefferies Financial Group also issued estimates for Installed Building Products’ Q4 2020 earnings at $1.21 EPS, Q1 2021 earnings at $0.94 EPS, Q4 2021 earnings at $1.46 EPS and FY2021 earnings at $5.18 EPS.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, August 6th. The construction company reported $1.12 EPS for the quarter, topping the consensus estimate of $0.77 by $0.35. The firm had revenue of $393.94 million for the quarter, compared to the consensus estimate of $372.61 million. Installed Building Products had a net margin of 5.14% and a return on equity of 45.67%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $0.87 earnings per share.

Several other research analysts also recently commented on the stock. BTIG Research lifted their price target on shares of Installed Building Products from $87.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Benchmark downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating and set a $104.00 price target on the stock. in a research note on Monday, October 5th. SunTrust Banks raised shares of Installed Building Products to a “buy” rating and set a $80.00 price target on the stock in a research note on Wednesday, July 8th. Zacks Investment Research raised shares of Installed Building Products from a “hold” rating to a “strong-buy” rating and set a $99.00 price target on the stock in a research note on Thursday, August 13th. Finally, Berenberg Bank initiated coverage on shares of Installed Building Products in a research note on Wednesday, August 19th. They set a “buy” rating and a $115.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $80.31.

IBP stock opened at $113.39 on Friday. The company has a market capitalization of $3.38 billion, a PE ratio of 41.38 and a beta of 1.75. Installed Building Products has a one year low of $29.02 and a one year high of $121.67. The company’s 50 day moving average price is $99.72 and its two-hundred day moving average price is $73.08. The company has a debt-to-equity ratio of 2.01, a quick ratio of 2.57 and a current ratio of 2.90.

Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in Installed Building Products by 13.5% in the first quarter. Wellington Management Group LLP now owns 1,163,845 shares of the construction company’s stock valued at $46,403,000 after acquiring an additional 138,209 shares in the last quarter. Teza Capital Management LLC bought a new stake in Installed Building Products in the second quarter valued at $284,000. ProShare Advisors LLC bought a new stake in Installed Building Products in the second quarter valued at $238,000. Rafferty Asset Management LLC boosted its holdings in shares of Installed Building Products by 437.3% during the 2nd quarter. Rafferty Asset Management LLC now owns 29,998 shares of the construction company’s stock valued at $2,063,000 after buying an additional 24,415 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Installed Building Products by 5.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 17,861 shares of the construction company’s stock valued at $712,000 after buying an additional 891 shares in the last quarter. Institutional investors and hedge funds own 67.83% of the company’s stock.

In related news, CEO Jeffrey W. Edwards sold 300,000 shares of Installed Building Products stock in a transaction on Friday, August 14th. The shares were sold at an average price of $84.00, for a total value of $25,200,000.00. Following the sale, the chief executive officer now owns 105,141 shares in the company, valued at $8,831,844. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jason R. Niswonger sold 1,250 shares of Installed Building Products stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $88.20, for a total transaction of $110,250.00. Following the completion of the sale, the senior vice president now owns 19,988 shares in the company, valued at approximately $1,762,941.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 668,144 shares of company stock worth $59,548,105. 24.00% of the stock is owned by insiders.

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, 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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Earnings History and Estimates for Installed Building Products (NYSE:IBP)

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