Zacks: Analysts Expect Installed Building Products Inc (NYSE:IBP) to Post $0.84 Earnings Per Share

Wall Street analysts expect Installed Building Products Inc (NYSE:IBP) to report earnings per share of $0.84 for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Installed Building Products’ earnings. The highest EPS estimate is $0.87 and the lowest is $0.81. Installed Building Products reported earnings of $0.78 per share in the same quarter last year, which indicates a positive year over year growth rate of 7.7%. The business is scheduled to issue its next earnings results on Thursday, August 1st.

On average, analysts expect that Installed Building Products will report full year earnings of $3.03 per share for the current year, with EPS estimates ranging from $2.83 to $3.12. For the next financial year, analysts anticipate that the business will report earnings of $3.43 per share, with EPS estimates ranging from $3.19 to $3.61. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Installed Building Products.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. Installed Building Products had a return on equity of 41.94% and a net margin of 4.15%. The company had revenue of $342.14 million for the quarter, compared to the consensus estimate of $333.87 million. During the same quarter in the prior year, the business posted $0.45 EPS. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year.

Several brokerages have commented on IBP. Zacks Investment Research downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th. Nomura reiterated a “neutral” rating and set a $50.00 target price (down from $54.00) on shares of Installed Building Products in a research note on Thursday, May 16th. Deutsche Bank increased their target price on Installed Building Products from $47.00 to $55.00 and gave the company a “positive” rating in a research note on Monday, May 6th. Credit Suisse Group set a $45.00 price target on Installed Building Products and gave the company a “hold” rating in a report on Friday, March 1st. Finally, TheStreet raised Installed Building Products from a “c+” rating to a “b-” rating in a report on Friday, February 22nd. Eleven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Installed Building Products has an average rating of “Hold” and a consensus price target of $47.87.

In other news, Director Vikas Verma sold 10,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $55.00, for a total transaction of $550,000.00. Following the transaction, the director now directly owns 201,935 shares of the company’s stock, valued at approximately $11,106,425. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael H. Thomas sold 2,648 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $54.03, for a total value of $143,071.44. Following the transaction, the director now directly owns 11,102 shares in the company, valued at $599,841.06. The disclosure for this sale can be found here. Insiders have sold a total of 160,648 shares of company stock worth $7,584,121 over the last three months. Insiders own 25.20% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Texas Permanent School Fund lifted its holdings in shares of Installed Building Products by 2.7% during the 4th quarter. Texas Permanent School Fund now owns 14,303 shares of the construction company’s stock valued at $482,000 after buying an additional 382 shares during the period. Gotham Asset Management LLC bought a new position in Installed Building Products in the 4th quarter worth $1,854,000. 361 Capital LLC bought a new position in Installed Building Products in the 1st quarter worth $3,099,000. Dimensional Fund Advisors LP raised its holdings in Installed Building Products by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 905,324 shares of the construction company’s stock worth $30,501,000 after purchasing an additional 6,758 shares during the period. Finally, Legal & General Group Plc raised its holdings in Installed Building Products by 4.5% in the 4th quarter. Legal & General Group Plc now owns 53,551 shares of the construction company’s stock worth $1,802,000 after purchasing an additional 2,307 shares during the period. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

IBP traded up $0.20 during trading on Wednesday, hitting $53.13. 95,423 shares of the company’s stock traded hands, compared to its average volume of 197,142. The company has a current ratio of 2.24, a quick ratio of 1.91 and a debt-to-equity ratio of 2.44. Installed Building Products has a 12-month low of $29.24 and a 12-month high of $65.70. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 1.14 and a beta of 1.20.

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.

See Also: How to Use the New Google Finance Tool

Get a free copy of the Zacks research report on Installed Building Products (IBP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Installed Building Products (NYSE:IBP)

Receive News & Ratings for Installed Building Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Installed Building Products and related companies with MarketBeat.com's FREE daily email newsletter.