Analysts Expect Installed Building Products Inc (NYSE:IBP) Will Announce Earnings of $0.87 Per Share

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Brokerages expect Installed Building Products Inc (NYSE:IBP) to announce earnings of $0.87 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Installed Building Products’ earnings. The lowest EPS estimate is $0.83 and the highest is $0.88. Installed Building Products posted earnings per share of $0.72 in the same quarter last year, which would indicate a positive year over year growth rate of 20.8%. The company is scheduled to issue its next quarterly earnings results on Thursday, February 27th.

According to Zacks, analysts expect that Installed Building Products will report full-year earnings of $3.22 per share for the current year, with EPS estimates ranging from $3.16 to $3.25. For the next fiscal year, analysts anticipate that the business will post earnings of $3.70 per share, with EPS estimates ranging from $3.58 to $3.91. Zacks Investment Research’s EPS calculations 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 announced its quarterly earnings data on Friday, November 1st. The construction company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.13. The business had revenue of $396.40 million for the quarter, compared to the consensus estimate of $385.46 million. Installed Building Products had a net margin of 4.47% and a return on equity of 45.94%. Installed Building Products’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the company posted $0.72 earnings per share.

A number of equities research analysts have weighed in on the stock. Deutsche Bank assumed coverage on shares of Installed Building Products in a research note on Wednesday, November 27th. They set a “buy” rating and a $82.00 price target on the stock. Zacks Investment Research upgraded shares of Installed Building Products from a “hold” rating to a “strong-buy” rating and set a $81.00 price target on the stock in a research note on Thursday, November 7th. ValuEngine upgraded shares of Installed Building Products from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. SunTrust Banks lifted their price target on shares of Installed Building Products to $71.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Finally, Nomura lifted their price target on shares of Installed Building Products from $50.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $58.33.

IBP traded up $0.14 during trading on Wednesday, reaching $70.46. 241,693 shares of the company’s stock were exchanged, compared to its average volume of 200,350. Installed Building Products has a fifty-two week low of $30.54 and a fifty-two week high of $76.60. The company has a quick ratio of 2.39, a current ratio of 2.69 and a debt-to-equity ratio of 2.52. The business has a 50 day moving average price of $68.63 and a 200 day moving average price of $58.96. The company has a market capitalization of $2.15 billion, a P/E ratio of 26.39, a PEG ratio of 1.46 and a beta of 1.16.

In other Installed Building Products news, Director Vikas Verma sold 10,000 shares of Installed Building Products stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $62.00, for a total transaction of $620,000.00. Following the completion of the transaction, the director now directly owns 131,935 shares of the company’s stock, valued at $8,179,970. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jay P. Elliott sold 20,000 shares of Installed Building Products stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $70.83, for a total value of $1,416,600.00. Following the transaction, the chief operating officer now directly owns 23,529 shares of the company’s stock, valued at $1,666,559.07. The disclosure for this sale can be found here. Insiders have sold 60,000 shares of company stock worth $3,966,600 in the last quarter. Corporate insiders own 25.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of IBP. Nuveen Asset Management LLC bought a new position in shares of Installed Building Products during the second quarter valued at $8,511,000. Bamco Inc. NY lifted its holdings in shares of Installed Building Products by 9.1% during the second quarter. Bamco Inc. NY now owns 1,636,712 shares of the construction company’s stock valued at $96,926,000 after acquiring an additional 136,712 shares during the period. Eagle Asset Management Inc. bought a new position in shares of Installed Building Products during the third quarter valued at $5,753,000. Allianz Asset Management GmbH bought a new position in shares of Installed Building Products during the second quarter valued at $4,974,000. Finally, Panagora Asset Management Inc. bought a new position in shares of Installed Building Products during the second quarter valued at $4,888,000. 68.27% of the stock is owned by institutional investors.

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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