Zacks: Analysts Anticipate Installed Building Products Inc (NYSE:IBP) to Announce $0.87 Earnings Per Share

Analysts expect that Installed Building Products Inc (NYSE:IBP) will announce $0.87 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have provided estimates for Installed Building Products’ earnings, with the highest EPS estimate coming in at $0.88 and the lowest estimate coming in at $0.83. Installed Building Products posted earnings per share of $0.72 in the same quarter last year, which would indicate a positive year over year growth rate of 20.8%. The company is scheduled to issue its next quarterly earnings report on Thursday, February 27th.

According to Zacks, analysts expect that Installed Building Products will report full-year earnings of $3.23 per share for the current year, with EPS estimates ranging from $3.21 to $3.25. For the next financial year, analysts expect that the business will post earnings of $3.70 per share, with EPS estimates ranging from $3.58 to $3.91. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Installed Building Products.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Friday, November 1st. The construction company reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 company 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 firm posted $0.72 EPS. The company’s revenue for the quarter was up 13.6% on a year-over-year basis.

A number of equities analysts have commented on the company. ValuEngine upgraded Installed Building Products from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Zacks Investment Research raised Installed Building Products from a “hold” rating to a “strong-buy” rating and set a $81.00 target price for the company in a report on Thursday, November 7th. SunTrust Banks increased their price target on Installed Building Products to $71.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Deutsche Bank began coverage on Installed Building Products in a research report on Wednesday, November 27th. They set a “buy” rating and a $82.00 price target on the stock. Finally, Goldman Sachs Group initiated coverage on Installed Building Products in a research report on Friday. They set a “neutral” rating and a $74.00 price objective for the company. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $60.07.

Shares of NYSE:IBP traded down $0.51 during trading on Wednesday, reaching $70.94. 113,185 shares of the company’s stock traded hands, compared to its average volume of 199,811. The stock has a market capitalization of $2.14 billion, a P/E ratio of 26.57, a price-to-earnings-growth ratio of 1.45 and a beta of 1.16. Installed Building Products has a 12 month low of $30.54 and a 12 month high of $76.60. The company has a 50 day moving average of $69.27 and a 200-day moving average of $59.20. The company has a debt-to-equity ratio of 2.52, a current ratio of 2.69 and a quick ratio of 2.39.

In other Installed Building Products news, COO Jay P. Elliott sold 20,000 shares of Installed Building Products 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 sale, the chief operating officer now owns 23,529 shares of the company’s stock, valued at approximately $1,666,559.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vikas Verma sold 10,000 shares of Installed Building Products stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the sale, the director now directly owns 131,935 shares in the company, valued at approximately $8,179,970. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,000 shares of company stock worth $3,966,600. 25.20% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Installed Building Products by 2.1% in the second 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 increased its stake in shares of Installed Building Products by 9.1% during the second quarter. Bamco Inc. NY now owns 1,636,712 shares of the construction company’s stock valued at $96,926,000 after acquiring an additional 136,712 shares during the period. Northern Trust Corp raised its holdings in Installed Building Products by 1.8% during 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 raised 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Installed Building Products by 58.6% in 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 period. 68.27% of the stock is currently owned by institutional investors.

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 and Estimates for Installed Building Products (NYSE:IBP)

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