Brokerages Anticipate Installed Building Products, Inc. (IBP) to Post $0.63 Earnings Per Share
Analysts expect Installed Building Products, Inc. (NYSE:IBP) to post earnings of $0.63 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Installed Building Products’ earnings, with the lowest EPS estimate coming in at $0.61 and the highest estimate coming in at $0.68. Installed Building Products reported earnings of $0.44 per share during the same quarter last year, which indicates a positive year over year growth rate of 43.2%. The firm is expected to issue its next quarterly earnings report on Monday, February 26th.
According to Zacks, analysts expect that Installed Building Products will report full year earnings of $2.17 per share for the current financial year, with EPS estimates ranging from $2.12 to $2.22. For the next fiscal year, analysts anticipate that the company will report earnings of $2.74 per share, with EPS estimates ranging from $2.64 to $2.85. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Installed Building Products.
Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Friday, November 3rd. The construction company reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.07). The company had revenue of $295.20 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS.
Several research firms have issued reports on IBP. Jefferies Group started coverage on Installed Building Products in a report on Tuesday. They set a “hold” rating and a $69.00 price objective on the stock. KeyCorp reiterated a “hold” rating on shares of Installed Building Products in a report on Wednesday, November 1st. Zacks Investment Research upgraded Installed Building Products from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a report on Friday, October 6th. Credit Suisse Group set a $73.00 target price on Installed Building Products and gave the company an “outperform” rating in a report on Tuesday, October 17th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $65.00 target price on shares of Installed Building Products in a report on Friday, November 3rd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $67.43.
Installed Building Products (IBP) traded down $0.90 during midday trading on Tuesday, reaching $70.10. The company’s stock had a trading volume of 101,121 shares, compared to its average volume of 220,358. The company has a current ratio of 2.22, a quick ratio of 1.93 and a debt-to-equity ratio of 1.70. The firm has a market cap of $2,230.00, a P/E ratio of 54.96 and a beta of 0.87. Installed Building Products has a 12-month low of $39.95 and a 12-month high of $79.40.
In other news, Director Vikas Verma purchased 3,318 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was acquired at an average price of $59.98 per share, with a total value of $199,013.64. Following the purchase, the director now owns 230,251 shares in the company, valued at approximately $13,810,454.98. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey W. Edwards sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $74.25, for a total value of $14,850,000.00. Following the completion of the sale, the chief executive officer now directly owns 504,800 shares of the company’s stock, valued at approximately $37,481,400. The disclosure for this sale can be found here. Insiders sold a total of 413,781 shares of company stock worth $28,617,254 in the last quarter. 32.90% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in IBP. Renaissance Technologies LLC grew its stake in shares of Installed Building Products by 59.5% in the 1st quarter. Renaissance Technologies LLC now owns 51,200 shares of the construction company’s stock valued at $2,701,000 after buying an additional 19,100 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Installed Building Products by 110.3% in the 1st quarter. Bank of America Corp DE now owns 30,943 shares of the construction company’s stock valued at $1,632,000 after buying an additional 16,228 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Installed Building Products in the 2nd quarter valued at approximately $6,228,000. Municipal Employees Retirement System of Michigan grew its stake in shares of Installed Building Products by 5.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,720 shares of the construction company’s stock valued at $250,000 after buying an additional 260 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in shares of Installed Building Products by 7.1% in the 2nd quarter. Great West Life Assurance Co. Can now owns 28,870 shares of the construction company’s stock valued at $1,527,000 after buying an additional 1,905 shares in the last quarter. 65.91% of the stock is owned by institutional investors and hedge funds.
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About Installed Building Products
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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