Installed Building Products, Inc. (NYSE:IBP) issued its earnings results on Friday. The construction company reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.07), Bloomberg Earnings reports. Installed Building Products had a return on equity of 25.27% and a net margin of 4.11%. The company had revenue of $295.20 million during the quarter, compared to analyst estimates of $292.51 million. During the same period in the previous year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 31.0% on a year-over-year basis.
Shares of Installed Building Products (NYSE IBP) opened at $64.85 on Friday. Installed Building Products has a twelve month low of $33.20 and a twelve month high of $70.25. The firm has a market capitalization of $2,066.32, a price-to-earnings ratio of 49.50 and a beta of 0.84. The company has a current ratio of 2.28, a quick ratio of 1.98 and a debt-to-equity ratio of 1.81.
In related news, VP Michael Thomas Miller sold 1,661 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $60.00, for a total transaction of $99,660.00. Following the completion of the sale, the vice president now directly owns 32,086 shares of the company’s stock, valued at approximately $1,925,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Todd R. Fry sold 1,000 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $58.00, for a total value of $58,000.00. Following the sale, the insider now directly owns 4,091 shares of the company’s stock, valued at $237,278. The disclosure for this sale can be found here. Insiders have sold a total of 168,459 shares of company stock valued at $10,366,576 over the last ninety days. Insiders own 32.90% of the company’s stock.
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A number of brokerages have recently issued reports on IBP. SunTrust Banks, Inc. reissued a “buy” rating and issued a $65.00 target price on shares of Installed Building Products in a report on Friday. KeyCorp reissued a “hold” rating on shares of Installed Building Products in a report on Wednesday. Zacks Investment Research cut Installed Building Products from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Credit Suisse Group set a $73.00 target price on Installed Building Products and gave the stock an “outperform” rating in a report on Tuesday, October 17th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $69.00 target price on shares of Installed Building Products in a report on Monday, October 16th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $67.17.
Installed Building Products Company Profile
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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