Analysts Expect Installed Building Products Inc (IBP) Will Post Earnings of $0.64 Per Share

Analysts expect Installed Building Products Inc (NYSE:IBP) to post earnings of $0.64 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Installed Building Products’ earnings, with estimates ranging from $0.58 to $0.71. Installed Building Products posted earnings of $0.52 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 23.1%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, February 27th.

According to Zacks, analysts expect that Installed Building Products will report full year earnings of $2.59 per share for the current financial year, with EPS estimates ranging from $2.53 to $2.66. For the next financial year, analysts anticipate that the company will post earnings of $2.86 per share, with EPS estimates ranging from $2.68 to $3.15. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Installed Building Products.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Thursday, November 1st. The construction company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.07). The company had revenue of $349.00 million for the quarter, compared to analysts’ expectations of $346.39 million. Installed Building Products had a return on equity of 29.03% and a net margin of 3.82%. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 earnings per share.

A number of research firms have commented on IBP. TheStreet cut Installed Building Products from a “b” rating to a “c+” rating in a research note on Thursday, October 4th. Stephens cut Installed Building Products from an “overweight” rating to an “equal weight” rating and set a $37.00 price target for the company. in a research note on Thursday, October 18th. Credit Suisse Group reiterated a “neutral” rating and issued a $40.00 price target on shares of Installed Building Products in a research note on Wednesday, October 17th. Deutsche Bank cut Installed Building Products from a “buy” rating to a “hold” rating and decreased their price target for the company from $44.00 to $38.00 in a research note on Tuesday, December 4th. Finally, Macquarie began coverage on Installed Building Products in a research note on Wednesday, September 26th. They issued a “hold” rating and a $50.00 price target for the company. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. Installed Building Products presently has a consensus rating of “Hold” and a consensus price target of $48.36.

Shares of NYSE IBP traded down $0.17 during mid-day trading on Friday, reaching $38.90. 157,424 shares of the company were exchanged, compared to its average volume of 210,002. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.59 and a quick ratio of 2.30. The stock has a market capitalization of $1.20 billion, a P/E ratio of 32.69, a price-to-earnings-growth ratio of 1.08 and a beta of 1.21. Installed Building Products has a 1 year low of $29.24 and a 1 year high of $75.75.

In other news, CEO Jeffrey W. Edwards sold 150,000 shares of the stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $34.11, for a total value of $5,116,500.00. Following the transaction, the chief executive officer now directly owns 300,159 shares of the company’s stock, valued at $10,238,423.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.10% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of IBP. FMR LLC grew its holdings in Installed Building Products by 150.4% during the second 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 during the period. Pembroke Management LTD grew its holdings in Installed Building Products by 51.8% during the third quarter. Pembroke Management LTD now owns 536,546 shares of the construction company’s stock worth $20,925,000 after acquiring an additional 183,083 shares during the period. BlackRock Inc. grew its holdings in Installed Building Products by 5.7% during the third quarter. BlackRock Inc. now owns 3,350,626 shares of the construction company’s stock worth $130,675,000 after acquiring an additional 179,725 shares during the period. Vanguard Group Inc grew its holdings in 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 acquiring an additional 142,853 shares during the period. Finally, Vanguard Group Inc. boosted its position in 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 purchasing an additional 142,853 shares in the last quarter. 71.13% 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, 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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