Installed Building Products Inc (NYSE:IBP) Expected to Announce Earnings of $0.86 Per Share

Equities research analysts expect that Installed Building Products Inc (NYSE:IBP) will report $0.86 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Installed Building Products’ earnings, with estimates ranging from $0.83 to $0.89. Installed Building Products reported earnings of $0.72 per share in the same quarter last year, which indicates a positive year over year growth rate of 19.4%. The business is expected to report its next earnings report on Thursday, February 27th.

According to Zacks, analysts expect that Installed Building Products will report full year earnings of $3.23 per share for the current financial year, with EPS estimates ranging from $3.21 to $3.26. For the next year, analysts forecast that the business will report earnings of $3.72 per share, with EPS estimates ranging from $3.58 to $3.91. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Installed Building Products.

Installed Building Products (NYSE:IBP) last issued 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 firm had revenue of $396.40 million during the quarter, compared to analysts’ expectations of $385.46 million. Installed Building Products had a return on equity of 45.94% and a net margin of 4.47%. Installed Building Products’s revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 earnings per share.

IBP has been the subject of a number of recent analyst reports. BTIG Research started coverage on Installed Building Products in a research report on Thursday, December 12th. They issued a “buy” rating and a $85.00 price objective for the company. SunTrust Banks boosted their price objective on Installed Building Products to $71.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Deutsche Bank initiated coverage on Installed Building Products in a research note on Wednesday, November 27th. They set a “buy” rating and a $82.00 price objective on the stock. Goldman Sachs Group initiated coverage on Installed Building Products in a report on Friday, December 6th. They issued a “neutral” rating and a $74.00 price objective for the company. Finally, Zacks Investment Research raised Installed Building Products from a “hold” rating to a “strong-buy” rating and set a $81.00 price objective for the company in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Installed Building Products presently has an average rating of “Buy” and a consensus price target of $68.41.

Installed Building Products stock opened at $76.05 on Friday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 2.39 and a current ratio of 2.69. The stock has a fifty day moving average of $70.87 and a two-hundred day moving average of $63.01. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 34.89, a PEG ratio of 1.26 and a beta of 1.13. Installed Building Products has a fifty-two week low of $37.37 and a fifty-two week high of $76.60.

In related news, COO Jay P. Elliott sold 20,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $70.83, for a total value of $1,416,600.00. Following the completion of the transaction, the chief operating officer now directly owns 23,529 shares of the company’s stock, valued at approximately $1,666,559.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vikas Verma sold 10,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $67.00, for a total value of $670,000.00. Following the completion of the transaction, the director now directly owns 81,935 shares of the company’s stock, valued at $5,489,645. The disclosure for this sale can be found here. 25.20% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Installed Building Products by 2.1% in the second quarter. BlackRock Inc. now owns 3,398,152 shares of the construction company’s stock worth $201,240,000 after purchasing an additional 69,177 shares during the period. Bamco Inc. NY lifted its position in Installed Building Products by 9.1% in the second quarter. Bamco Inc. NY now owns 1,636,712 shares of the construction company’s stock worth $96,926,000 after purchasing an additional 136,712 shares during the period. Northern Trust Corp lifted its position in Installed Building Products by 1.8% in the second quarter. Northern Trust Corp now owns 295,882 shares of the construction company’s stock worth $17,521,000 after purchasing an additional 5,259 shares during the period. Bank of New York Mellon Corp lifted its position in Installed Building Products by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 264,054 shares of the construction company’s stock worth $15,637,000 after purchasing an additional 5,351 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Installed Building Products by 58.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 192,479 shares of the construction company’s stock worth $11,399,000 after purchasing an additional 71,120 shares during the period. 68.26% of the stock is owned by institutional investors and hedge funds.

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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