Wall Street analysts expect Installed Building Products Inc (NYSE:IBP) to report sales of $390.49 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Installed Building Products’ earnings, with estimates ranging from $377.80 million to $397.10 million. Installed Building Products posted sales of $353.12 million during the same quarter last year, which would indicate a positive year over year growth rate of 10.6%. The company is scheduled to report its next earnings report on Thursday, February 27th.
On average, analysts expect that Installed Building Products will report full year sales of $1.50 billion for the current fiscal year, with estimates ranging from $1.49 billion to $1.51 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.63 billion, with estimates ranging from $1.60 billion to $1.67 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Installed Building Products.
Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Friday, November 1st. The construction company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.13. Installed Building Products had a net margin of 4.47% and a return on equity of 45.94%. The business had revenue of $396.40 million for the quarter, compared to the consensus estimate of $385.46 million. During the same period last year, the company posted $0.72 EPS. Installed Building Products’s revenue for the quarter was up 13.6% on a year-over-year basis.
NYSE IBP traded down $0.51 during trading on Friday, reaching $70.94. 113,185 shares of the stock traded hands, compared to its average volume of 199,811. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 26.57, a price-to-earnings-growth ratio of 1.45 and a beta of 1.16. The stock’s 50-day moving average price is $69.27 and its 200 day moving average price is $59.20. The company has a quick ratio of 2.39, a current ratio of 2.69 and a debt-to-equity ratio of 2.52. Installed Building Products has a fifty-two week low of $30.54 and a fifty-two week high of $76.60.
In related news, Director Vikas Verma sold 10,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $67.00, for a total value of $670,000.00. Following the completion of the transaction, the director now directly owns 81,935 shares of the company’s stock, valued at approximately $5,489,645. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jay P. Elliott sold 20,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $70.83, for a total transaction of $1,416,600.00. Following the completion of the transaction, the chief operating officer now directly owns 23,529 shares of the company’s stock, valued at $1,666,559.07. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,000 shares of company stock valued at $3,966,600. 25.20% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in IBP. BlackRock Inc. lifted its stake in Installed Building Products by 2.1% in the 2nd quarter. BlackRock Inc. now owns 3,398,152 shares of the construction company’s stock valued at $201,240,000 after acquiring an additional 69,177 shares in the last quarter. Bamco Inc. NY lifted its position in shares of Installed Building Products by 9.1% in the second quarter. Bamco Inc. NY now owns 1,636,712 shares of the construction company’s stock worth $96,926,000 after purchasing an additional 136,712 shares in the last quarter. Northern Trust Corp lifted its position in shares of Installed Building Products by 1.8% in the second quarter. Northern Trust Corp now owns 295,882 shares of the construction company’s stock worth $17,521,000 after purchasing an additional 5,259 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Installed Building Products by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 264,054 shares of the construction company’s stock worth $15,637,000 after purchasing an additional 5,351 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Installed Building Products by 58.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 192,479 shares of the construction company’s stock worth $11,399,000 after purchasing an additional 71,120 shares during the last quarter. 68.27% of the stock is currently owned by hedge funds and other 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, 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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