Installed Building Products (NYSE:IBP) Announces Quarterly Earnings Results

Installed Building Products (NYSE:IBP) posted its quarterly earnings data on Thursday. The construction company reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.03, Bloomberg Earnings reports. Installed Building Products had a return on equity of 43.59% and a net margin of 4.22%. The firm had revenue of $371.80 million for the quarter, compared to analysts’ expectations of $367.03 million. During the same period in the previous year, the firm earned $0.78 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis.

IBP traded up $0.13 on Friday, hitting $55.66. 147,438 shares of the company’s stock traded hands, compared to its average volume of 167,266. The firm has a 50 day simple moving average of $55.01. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 1.16 and a beta of 1.23. Installed Building Products has a one year low of $29.24 and a one year high of $59.93. The company has a current ratio of 2.24, a quick ratio of 1.91 and a debt-to-equity ratio of 2.44.

In related news, VP Michael Thomas Miller sold 27,404 shares of Installed Building Products stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $57.55, for a total transaction of $1,577,100.20. Following the sale, the vice president now owns 35,973 shares of the company’s stock, valued at approximately $2,070,246.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vikas Verma sold 30,000 shares of Installed Building Products stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $53.00, for a total value of $1,590,000.00. Following the sale, the director now directly owns 231,935 shares in the company, valued at approximately $12,292,555. The disclosure for this sale can be found here. Insiders have sold a total of 112,457 shares of company stock worth $6,307,749 in the last three months. 25.20% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in IBP. Norges Bank bought a new stake in Installed Building Products in the 4th quarter worth approximately $5,978,000. Millennium Management LLC increased its stake in Installed Building Products by 65.4% in the 4th quarter. Millennium Management LLC now owns 252,188 shares of the construction company’s stock worth $8,496,000 after acquiring an additional 99,677 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in Installed Building Products in the 2nd quarter worth approximately $4,974,000. Panagora Asset Management Inc. bought a new stake in Installed Building Products in the 2nd quarter worth approximately $4,888,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Installed Building Products by 58.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 192,479 shares of the construction company’s stock worth $11,399,000 after acquiring an additional 71,120 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently weighed in on the company. SunTrust Banks lifted their price objective on Installed Building Products from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Friday. Nomura lifted their price objective on Installed Building Products from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday. Royal Bank of Canada set a $50.00 price objective on Installed Building Products and gave the company a “hold” rating in a research report on Friday, May 3rd. Zacks Investment Research raised Installed Building Products from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Tuesday, July 9th. Finally, Deutsche Bank lifted their price objective on Installed Building Products from $47.00 to $55.00 and gave the company a “positive” rating in a research report on Monday, May 6th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Installed Building Products currently has an average rating of “Hold” and a consensus target price of $47.97.

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 for Installed Building Products (NYSE:IBP)

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