$345.45 Million in Sales Expected for Installed Building Products Inc (IBP) This Quarter

Equities research analysts forecast that Installed Building Products Inc (NYSE:IBP) will announce $345.45 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Installed Building Products’ earnings, with the lowest sales estimate coming in at $343.30 million and the highest estimate coming in at $347.44 million. Installed Building Products posted sales of $295.19 million during the same quarter last year, which indicates a positive year over year growth rate of 17%. The firm is expected to issue its next earnings results on Friday, November 2nd.

On average, analysts expect that Installed Building Products will report full year sales of $1.32 billion for the current fiscal year, with estimates ranging from $1.32 billion to $1.33 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.47 billion per share, with estimates ranging from $1.44 billion to $1.49 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Installed Building Products.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Thursday, August 2nd. The construction company reported $0.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.03). The company had revenue of $332.60 million during the quarter, compared to the consensus estimate of $334.24 million. Installed Building Products had a net margin of 3.70% and a return on equity of 24.57%. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 EPS.

IBP has been the subject of a number of recent analyst reports. Royal Bank of Canada set a $66.00 target price on Installed Building Products and gave the company a “buy” rating in a report on Friday, August 3rd. Zelman & Associates downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. Jefferies Financial Group restated a “buy” rating and set a $71.00 target price on shares of Installed Building Products in a report on Friday, August 3rd. ValuEngine downgraded Installed Building Products from a “hold” rating to a “sell” rating in a report on Wednesday, July 4th. Finally, Evercore ISI initiated coverage on Installed Building Products in a report on Thursday, June 28th. They set an “in-line” rating and a $65.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $70.67.

Shares of Installed Building Products stock opened at $48.40 on Tuesday. The company has a quick ratio of 2.50, a current ratio of 2.80 and a debt-to-equity ratio of 2.04. The company has a market cap of $1.49 billion, a P/E ratio of 40.38, a price-to-earnings-growth ratio of 0.71 and a beta of 0.86. Installed Building Products has a 52 week low of $45.04 and a 52 week high of $79.40.

In other Installed Building Products news, Director J Michael Nixon sold 61,398 shares of the stock in a transaction on Friday, June 1st. The stock was sold at an average price of $60.87, for a total value of $3,737,296.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey W. Edwards sold 92,649 shares of the stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $48.46, for a total value of $4,489,770.54. Following the completion of the transaction, the chief executive officer now owns 300,159 shares of the company’s stock, valued at approximately $14,545,705.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 296,086 shares of company stock valued at $16,089,707. 31.10% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers raised its holdings in Installed Building Products by 2.5% in the first quarter. Rhumbline Advisers now owns 49,367 shares of the construction company’s stock worth $2,964,000 after purchasing an additional 1,200 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in Installed Building Products by 12.9% in the first quarter. OppenheimerFunds Inc. now owns 11,494 shares of the construction company’s stock worth $690,000 after purchasing an additional 1,317 shares in the last quarter. LPL Financial LLC raised its holdings in Installed Building Products by 55.7% in the first quarter. LPL Financial LLC now owns 4,479 shares of the construction company’s stock worth $269,000 after purchasing an additional 1,602 shares in the last quarter. Legal & General Group Plc raised its holdings in Installed Building Products by 4.2% in the second quarter. Legal & General Group Plc now owns 45,179 shares of the construction company’s stock worth $2,585,000 after purchasing an additional 1,813 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Installed Building Products by 0.7% in the first quarter. Northern Trust Corp now owns 273,868 shares of the construction company’s stock worth $16,445,000 after purchasing an additional 1,888 shares in the last quarter. Institutional investors and hedge funds own 70.03% 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, 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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