Zacks: Brokerages Anticipate Installed Building Products Inc (IBP) Will Announce Quarterly Sales of $367.36 Million

Wall Street brokerages expect Installed Building Products Inc (NYSE:IBP) to announce $367.36 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Installed Building Products’ earnings, with estimates ranging from $360.00 million to $376.40 million. Installed Building Products posted sales of $332.58 million during the same quarter last year, which suggests a positive year over year growth rate of 10.5%. The business is expected to announce its next quarterly earnings results on Thursday, August 1st.

On average, analysts expect that Installed Building Products will report full year sales of $1.46 billion for the current fiscal year, with estimates ranging from $1.40 billion to $1.50 billion. For the next year, analysts anticipate that the business will report sales of $1.57 billion, with estimates ranging from $1.47 billion to $1.65 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Installed Building Products.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.51 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.51. The firm had revenue of $342.14 million during the quarter, compared to analyst estimates of $333.87 million. Installed Building Products had a return on equity of 41.94% and a net margin of 4.15%. Installed Building Products’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 earnings per share.

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

Installed Building Products stock traded down $0.92 during midday trading on Wednesday, hitting $54.46. The stock had a trading volume of 266,600 shares, compared to its average volume of 201,629. The company has a quick ratio of 1.91, a current ratio of 2.24 and a debt-to-equity ratio of 2.44. The firm has a market cap of $1.63 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.16 and a beta of 1.34. Installed Building Products has a 12 month low of $29.24 and a 12 month high of $65.85.

In other Installed Building Products news, COO Jay P. Elliott sold 14,500 shares of Installed Building Products stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $54.57, for a total value of $791,265.00. Following the completion of the transaction, the chief operating officer now directly owns 45,529 shares in the company, valued at $2,484,517.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey W. Edwards sold 100,000 shares of Installed Building Products stock in a transaction that occurred 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 of the company’s stock, valued at $5,413,023.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 320,648 shares of company stock valued at $14,572,038. 25.20% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc boosted its position in shares of Installed Building Products by 7.1% during the third quarter. Vanguard Group Inc now owns 2,168,058 shares of the construction company’s stock worth $84,553,000 after buying an additional 142,853 shares during the period. Vanguard Group Inc. boosted its position in shares of Installed Building Products by 7.1% during the third quarter. Vanguard Group Inc. now owns 2,168,058 shares of the construction company’s stock worth $84,553,000 after buying an additional 142,853 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Installed Building Products by 3.2% during the first quarter. Dimensional Fund Advisors LP now owns 934,106 shares of the construction company’s stock worth $45,304,000 after buying an additional 28,782 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Installed Building Products by 11.3% during the third quarter. Neuberger Berman Group LLC now owns 790,120 shares of the construction company’s stock worth $30,815,000 after buying an additional 80,105 shares during the period. Finally, FMR LLC boosted its position in shares of Installed Building Products by 21.0% during the fourth quarter. FMR LLC now owns 636,348 shares of the construction company’s stock worth $21,438,000 after buying an additional 110,357 shares during the period. 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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