Installed Building Products Inc (IBP) Expected to Announce Quarterly Sales of $345.61 Million

Equities research analysts predict that Installed Building Products Inc (NYSE:IBP) will post $345.61 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Installed Building Products’ earnings, with the lowest sales estimate coming in at $343.30 million and the highest estimate coming in at $347.44 million. Installed Building Products reported sales of $295.19 million in the same quarter last year, which indicates a positive year over year growth rate of 17.1%. The company is scheduled to issue its next quarterly earnings results on Friday, November 2nd.

On average, analysts expect that Installed Building Products will report full-year sales of $1.32 billion for the current year, with estimates ranging from $1.32 billion to $1.33 billion. For the next financial year, analysts forecast that the business will report sales of $1.47 billion, with estimates ranging from $1.44 billion to $1.49 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Installed Building Products.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, August 2nd. The construction company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.03). The business had revenue of $332.60 million for the quarter, compared to analysts’ expectations of $334.24 million. Installed Building Products had a net margin of 3.70% and a return on equity of 24.57%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 earnings per share.

Several equities analysts recently commented on the stock. TheStreet downgraded shares of Installed Building Products from a “b” rating to a “c+” rating in a report on Thursday. Macquarie assumed coverage on shares of Installed Building Products in a report on Wednesday, September 26th. They set a “hold” rating and a $50.00 price target on the stock. ValuEngine downgraded shares of Installed Building Products from a “sell” rating to a “strong sell” rating in a report on Friday, September 21st. Zelman & Associates downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. Finally, Stephens reiterated a “buy” rating and set a $65.00 price target on shares of Installed Building Products in a report on Wednesday, August 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $68.60.

Shares of NYSE IBP traded up $1.06 during mid-day trading on Monday, hitting $38.24. 323,800 shares of the company’s stock traded hands, compared to its average volume of 232,287. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 32.13, a P/E/G ratio of 0.59 and a beta of 0.78. Installed Building Products has a 1 year low of $35.70 and a 1 year high of $79.40. The company has a current ratio of 2.80, a quick ratio of 2.50 and a debt-to-equity ratio of 2.04.

In related news, CEO Jeffrey W. Edwards sold 107,039 shares of the company’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $52.30, for a total transaction of $5,598,139.70. Following the transaction, the chief executive officer now directly owns 351,071 shares in the company, valued at approximately $18,361,013.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey W. Edwards sold 92,649 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $48.46, for a total transaction of $4,489,770.54. Following the transaction, the chief executive officer now owns 300,159 shares in the company, valued at $14,545,705.14. The disclosure for this sale can be found here. Corporate insiders own 31.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of IBP. Westwood Holdings Group Inc. bought a new position in Installed Building Products in the 1st quarter worth about $46,340,000. FMR LLC grew its stake in Installed Building Products by 150.4% in the 2nd quarter. FMR LLC now owns 426,005 shares of the construction company’s stock worth $24,090,000 after acquiring an additional 255,900 shares in the last quarter. BlackRock Inc. grew its stake in Installed Building Products by 4.1% in the 2nd quarter. BlackRock Inc. now owns 3,170,901 shares of the construction company’s stock worth $179,315,000 after acquiring an additional 123,489 shares in the last quarter. Carillon Tower Advisers Inc. bought a new position in Installed Building Products in the 1st quarter worth about $4,599,000. Finally, Millennium Management LLC bought a new position in Installed Building Products in the 2nd quarter worth about $2,922,000. Institutional investors and hedge funds own 70.02% of the company’s stock.

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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