$370.10 Million in Sales Expected for Installed Building Products Inc (NYSE:IBP) This Quarter

Equities analysts expect that Installed Building Products Inc (NYSE:IBP) will report $370.10 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Installed Building Products’ earnings, with estimates ranging from $346.00 million to $388.70 million. Installed Building Products reported sales of $371.81 million in the same quarter last year, which would suggest a negative year over year growth rate of 0.5%. The business is scheduled to announce its next quarterly earnings results on Thursday, August 13th.

According to Zacks, analysts expect that Installed Building Products will report full-year sales of $1.51 billion for the current fiscal year, with estimates ranging from $1.44 billion to $1.56 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.64 billion, with estimates ranging from $1.58 billion to $1.69 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Installed Building Products.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Friday, May 8th. The construction company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.17. Installed Building Products had a net margin of 4.81% and a return on equity of 45.79%. The business had revenue of $397.30 million during the quarter, compared to analyst estimates of $381.87 million. During the same period last year, the firm posted $0.51 EPS. The company’s revenue was up 16.1% on a year-over-year basis.

A number of brokerages have issued reports on IBP. Benchmark increased their price objective on shares of Installed Building Products from $63.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, June 18th. They noted that the move was a valuation call. TheStreet raised shares of Installed Building Products from a “c” rating to a “b-” rating in a report on Wednesday, May 27th. Nomura Securities raised their target price on shares of Installed Building Products from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, April 17th. SunTrust Banks raised their target price on shares of Installed Building Products from $49.00 to $60.00 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, Evercore ISI raised shares of Installed Building Products from an “in-line” rating to an “outperform” rating and set a $45.00 target price for the company in a report on Thursday, April 2nd. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $64.42.

Hedge funds and other institutional investors have recently bought and sold shares of the business. NumerixS Investment Technologies Inc purchased a new position in Installed Building Products during the fourth quarter worth $48,000. USA Financial Portformulas Corp bought a new stake in shares of Installed Building Products during the first quarter worth $31,000. Point72 Hong Kong Ltd bought a new stake in shares of Installed Building Products during the fourth quarter worth $74,000. Oppenheimer Asset Management Inc. lifted its position in shares of Installed Building Products by 30.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 1,210 shares of the construction company’s stock worth $48,000 after purchasing an additional 282 shares during the last quarter. Finally, Pinz Capital Management LP bought a new stake in shares of Installed Building Products during the first quarter worth $50,000. 68.40% of the stock is owned by institutional investors.

IBP traded up $2.52 during trading on Monday, reaching $70.87. 284,931 shares of the company traded hands, compared to its average volume of 289,956. The company has a debt-to-equity ratio of 2.36, a quick ratio of 2.46 and a current ratio of 2.83. Installed Building Products has a 12-month low of $29.02 and a 12-month high of $80.25. The firm has a fifty day simple moving average of $66.61 and a 200 day simple moving average of $61.21. The company has a market cap of $2.04 billion, a P/E ratio of 28.24 and a beta of 1.82.

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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