Analysts Expect Installed Building Products Inc (NYSE:IBP) Will Post Quarterly Sales of $381.67 Million

Analysts expect Installed Building Products Inc (NYSE:IBP) to report sales of $381.67 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Installed Building Products’ earnings, with the highest sales estimate coming in at $388.70 million and the lowest estimate coming in at $372.50 million. Installed Building Products reported sales of $349.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.4%. The firm is expected to report its next quarterly earnings report 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 fiscal year, with estimates ranging from $1.45 billion to $1.49 billion. For the next financial year, analysts expect that the company will post sales of $1.57 billion, with estimates ranging from $1.56 billion to $1.59 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Installed Building Products.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Thursday, August 8th. The construction company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.03. The firm had revenue of $371.80 million during the quarter, compared to analyst estimates of $367.03 million. Installed Building Products had a net margin of 4.22% and a return on equity of 43.03%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 EPS.

A number of equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Nomura upped their price target on shares of Installed Building Products from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, August 9th. ValuEngine upgraded shares of Installed Building Products from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Finally, SunTrust Banks upped their price target on shares of Installed Building Products from $50.00 to $54.00 and gave the company a “hold” rating in a report on Friday, August 9th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Installed Building Products presently has an average rating of “Hold” and an average target price of $49.18.

Shares of IBP traded down $1.75 during mid-day trading on Monday, reaching $64.30. The company’s stock had a trading volume of 215,937 shares, compared to its average volume of 200,277. The company’s fifty day moving average price is $59.29 and its two-hundred day moving average price is $55.44. Installed Building Products has a 52 week low of $29.24 and a 52 week high of $66.71. The company has a current ratio of 2.16, a quick ratio of 1.85 and a debt-to-equity ratio of 2.27. The stock has a market cap of $1.98 billion, a PE ratio of 24.08, a P/E/G ratio of 1.39 and a beta of 1.15.

In other Installed Building Products news, insider William Jeffrey Hire sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $59.08, for a total transaction of $118,160.00. Following the transaction, the insider now directly owns 34,516 shares of the company’s stock, valued at approximately $2,039,205.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Vikas Verma sold 10,000 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $66.00, for a total transaction of $660,000.00. Following the transaction, the director now directly owns 91,935 shares in the company, valued at $6,067,710. The disclosure for this sale can be found here. Insiders have sold a total of 40,000 shares of company stock valued at $2,446,160 over the last quarter. 25.20% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC grew 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 worth $94,000 after buying an additional 1,335 shares during the period. Marshall Wace North America L.P. purchased a new stake in shares of Installed Building Products in the 1st quarter worth about $151,000. Bank of Montreal Can grew its position in shares of Installed Building Products by 178.7% in the 2nd quarter. Bank of Montreal Can now owns 2,954 shares of the construction company’s stock worth $175,000 after buying an additional 1,894 shares during the period. LPL Financial LLC purchased a new stake in shares of Installed Building Products in the 2nd quarter worth about $209,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Installed Building Products in the 2nd quarter worth about $226,000. 68.71% of the stock is currently owned by institutional investors and hedge funds.

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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