Installed Building Products Inc (IBP) Expected to Announce Quarterly Sales of $337.44 Million

Brokerages expect Installed Building Products Inc (NYSE:IBP) to post sales of $337.44 million for the current quarter, Zacks reports. Five analysts have made estimates for Installed Building Products’ earnings, with the highest sales estimate coming in at $342.00 million and the lowest estimate coming in at $329.00 million. Installed Building Products reported sales of $301.73 million in the same quarter last year, which indicates a positive year-over-year growth rate of 11.8%. The business is expected to announce its next quarterly earnings results on Thursday, May 2nd.

According to Zacks, analysts expect that Installed Building Products will report full year sales of $1.45 billion for the current financial year, with estimates ranging from $1.39 billion to $1.50 billion. For the next year, analysts anticipate that the firm will post sales of $1.56 billion, with estimates ranging from $1.52 billion to $1.64 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Installed Building Products.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, February 28th. The construction company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.08. Installed Building Products had a net margin of 4.10% and a return on equity of 37.15%. The business had revenue of $353.10 million for the quarter, compared to analysts’ expectations of $346.30 million. During the same period in the previous year, the company earned $0.52 earnings per share. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year.

Several research firms recently weighed in on IBP. SunTrust Banks cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Tuesday, January 15th. Zacks Investment Research upgraded shares of Installed Building Products from a “sell” rating to a “hold” rating in a report on Tuesday, March 12th. Jefferies Financial Group cut shares of Installed Building Products from a “buy” rating to a “hold” rating and cut their price target for the stock from $48.00 to $40.00 in a report on Wednesday, January 16th. Deutsche Bank cut shares of Installed Building Products from a “buy” rating to a “hold” rating and cut their price target for the stock from $44.00 to $38.00 in a report on Tuesday, December 4th. Finally, Macquarie upgraded shares of Installed Building Products from a “neutral” rating to an “outperform” rating and set a $45.65 price target on the stock in a report on Thursday, March 7th. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Installed Building Products currently has an average rating of “Hold” and a consensus target price of $46.77.

Installed Building Products stock traded down $0.94 during midday trading on Friday, hitting $47.55. 700 shares of the stock were exchanged, compared to its average volume of 212,778. Installed Building Products has a 52-week low of $29.24 and a 52-week high of $65.85. The stock has a market cap of $1.45 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 1.67 and a beta of 1.38. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.93 and a current ratio of 2.27.

In other Installed Building Products news, COO Jay P. Elliott sold 3,500 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $44.51, for a total value of $155,785.00. Following the transaction, the chief operating officer now directly owns 63,650 shares in the company, valued at $2,833,061.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey W. Edwards sold 97,749 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $46.34, for a total transaction of $4,529,688.66. Following the completion of the transaction, the chief executive officer now owns 124,323 shares in the company, valued at $5,761,127.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 303,500 shares of company stock worth $13,637,701. Corporate insiders own 31.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IBP. First Trust Advisors LP boosted its stake in Installed Building Products by 19.9% in the third quarter. First Trust Advisors LP now owns 34,784 shares of the construction company’s stock valued at $1,357,000 after acquiring an additional 5,781 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Installed Building Products by 70.8% in the third quarter. Victory Capital Management Inc. now owns 7,312 shares of the construction company’s stock valued at $285,000 after acquiring an additional 3,031 shares during the last quarter. Prudential Financial Inc. boosted its stake in Installed Building Products by 8.4% in the third quarter. Prudential Financial Inc. now owns 38,556 shares of the construction company’s stock valued at $1,504,000 after acquiring an additional 2,990 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Installed Building Products by 6.8% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 31,970 shares of the construction company’s stock valued at $1,247,000 after buying an additional 2,023 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Installed Building Products by 2.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 346,531 shares of the construction company’s stock valued at $13,514,000 after buying an additional 6,977 shares in the last quarter. Hedge funds and other institutional investors own 72.25% of the company’s stock.

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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