Zacks: Analysts Expect Installed Building Products Inc (IBP) to Post $0.84 EPS

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Wall Street brokerages expect Installed Building Products Inc (NYSE:IBP) to announce earnings of $0.84 per share for the current quarter, according to Zacks. Five analysts have made estimates for Installed Building Products’ earnings. The lowest EPS estimate is $0.81 and the highest is $0.87. Installed Building Products reported earnings of $0.78 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 7.7%. The firm is expected to report its next earnings report on Thursday, August 1st.

On average, analysts expect that Installed Building Products will report full-year earnings of $2.98 per share for the current financial year, with EPS estimates ranging from $2.81 to $3.10. For the next financial year, analysts expect that the company will post earnings of $3.35 per share, with EPS estimates ranging from $3.09 to $3.61. Zacks’ EPS 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 earnings results on Thursday, May 2nd. The construction company reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. Installed Building Products had a net margin of 4.15% and a return on equity of 41.94%. The firm had revenue of $342.14 million for the quarter, compared to the consensus estimate of $333.87 million. During the same period in the prior year, the firm earned $0.45 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis.

Several research analysts have commented on IBP shares. Royal Bank of Canada set a $50.00 price target on shares of Installed Building Products and gave the stock a “hold” rating in a report on Friday, May 3rd. ValuEngine upgraded shares of Installed Building Products from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Zacks Investment Research cut shares of Installed Building Products from a “hold” rating to a “sell” rating in a report on Thursday, February 21st. Macquarie upgraded shares of Installed Building Products from a “neutral” rating to an “outperform” rating and set a $45.65 price target for the company in a report on Thursday, March 7th. Finally, Nomura boosted their price target on shares of Installed Building Products to $52.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Installed Building Products presently has a consensus rating of “Hold” and an average price target of $47.87.

NYSE IBP traded down $0.67 on Monday, hitting $54.45. 107,625 shares of the stock were exchanged, compared to its average volume of 274,781. The company has a quick ratio of 1.91, a current ratio of 2.24 and a debt-to-equity ratio of 2.44. Installed Building Products has a fifty-two week low of $29.24 and a fifty-two week high of $65.85. The stock has a market capitalization of $1.65 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.17 and a beta of 1.34.

In other news, CEO Jeffrey W. Edwards sold 100,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $43.54, for a total value of $4,354,000.00. Following the completion of the transaction, the chief executive officer now owns 124,323 shares in the company, valued at approximately $5,413,023.42. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Jay P. Elliott sold 3,500 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $44.51, for a total transaction of $155,785.00. Following the completion of the transaction, the chief operating officer now owns 63,650 shares of the company’s stock, valued at approximately $2,833,061.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 320,648 shares of company stock valued at $14,572,038. Company insiders own 25.20% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Installed Building Products by 2.1% in the third quarter. Bank of New York Mellon Corp now owns 346,531 shares of the construction company’s stock worth $13,514,000 after purchasing an additional 6,977 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Installed Building Products in the third quarter worth approximately $2,227,000. MetLife Investment Advisors LLC raised its stake in shares of Installed Building Products by 59.9% in the third quarter. MetLife Investment Advisors LLC now owns 15,139 shares of the construction company’s stock worth $590,000 after purchasing an additional 5,670 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of Installed Building Products by 11.3% in the third quarter. Neuberger Berman Group LLC now owns 790,120 shares of the construction company’s stock worth $30,815,000 after purchasing an additional 80,105 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Installed Building Products by 13.4% in the third quarter. Legal & General Group Plc now owns 51,244 shares of the construction company’s stock worth $2,011,000 after purchasing an additional 6,065 shares during the last quarter. Institutional investors and hedge funds own 72.33% of the company’s stock.

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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