Installed Building Products Inc (IBP) Expected to Announce Quarterly Sales of $350.39 Million

Wall Street analysts expect Installed Building Products Inc (NYSE:IBP) to announce $350.39 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Installed Building Products’ earnings. The lowest sales estimate is $340.28 million and the highest is $355.80 million. Installed Building Products reported sales of $299.87 million in the same quarter last year, which indicates a positive year-over-year growth rate of 16.8%. The business is expected to announce its next earnings report on Wednesday, February 27th.

On average, analysts expect that Installed Building Products will report full year sales of $1.33 billion for the current financial year, with estimates ranging from $1.32 billion to $1.34 billion. For the next fiscal year, analysts expect that the company will report sales of $1.48 billion, with estimates ranging from $1.42 billion to $1.52 billion. Zacks’ sales averages 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 posted its quarterly earnings data on Thursday, November 1st. The construction company reported $0.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.07). The firm had revenue of $349.00 million during the quarter, compared to analysts’ expectations of $346.39 million. Installed Building Products had a net margin of 3.82% and a return on equity of 29.03%. The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS.

IBP has been the subject of several research analyst reports. Nomura decreased their price target on shares of Installed Building Products from $58.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Credit Suisse Group set a $38.00 price target on shares of Installed Building Products and gave the stock a “hold” rating in a research note on Friday, November 2nd. Zelman & Associates lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Tuesday, August 21st. Seaport Global Securities lowered shares of Installed Building Products from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Friday, November 2nd. Finally, Macquarie initiated coverage on shares of Installed Building Products in a research note on Wednesday, September 26th. They set a “hold” rating and a $50.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $51.36.

Shares of IBP stock traded up $0.22 during trading hours on Wednesday, hitting $35.51. 402,702 shares of the company were exchanged, compared to its average volume of 291,687. The company has a quick ratio of 2.30, a current ratio of 2.59 and a debt-to-equity ratio of 2.04. Installed Building Products has a 52-week low of $29.24 and a 52-week high of $78.15. The firm has a market cap of $1.10 billion, a P/E ratio of 29.84, a PEG ratio of 1.12 and a beta of 1.14.

In related news, CEO Jeffrey W. Edwards sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $34.11, for a total value of $5,116,500.00. Following the completion of the transaction, the chief executive officer now directly owns 300,159 shares of the company’s stock, valued at approximately $10,238,423.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 31.10% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Carillon Tower Advisers Inc. boosted its holdings in Installed Building Products by 2.0% in the 3rd quarter. Carillon Tower Advisers Inc. now owns 77,897 shares of the construction company’s stock worth $3,038,000 after buying an additional 1,548 shares during the period. Scout Investments Inc. boosted its holdings in Installed Building Products by 2.2% in the 3rd quarter. Scout Investments Inc. now owns 82,410 shares of the construction company’s stock worth $3,214,000 after buying an additional 1,761 shares during the period. Arizona State Retirement System boosted its holdings in Installed Building Products by 5.8% in the 3rd quarter. Arizona State Retirement System now owns 32,094 shares of the construction company’s stock worth $1,252,000 after buying an additional 1,766 shares during the period. Legal & General Group Plc boosted its holdings in Installed Building Products by 4.2% in the 2nd quarter. Legal & General Group Plc now owns 45,179 shares of the construction company’s stock worth $2,585,000 after buying an additional 1,813 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Installed Building Products by 3.8% in the 2nd quarter. Rhumbline Advisers now owns 51,220 shares of the construction company’s stock worth $2,896,000 after buying an additional 1,853 shares during the period. 71.15% 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, 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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