$621.32 Million in Sales Expected for Installed Building Products, Inc. (NYSE:IBP) This Quarter

Equities research analysts forecast that Installed Building Products, Inc. (NYSE:IBPGet Rating) will post $621.32 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Installed Building Products’ earnings. The lowest sales estimate is $611.70 million and the highest is $628.00 million. Installed Building Products posted sales of $488.10 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 27.3%. The firm is scheduled to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Installed Building Products will report full year sales of $2.46 billion for the current financial year, with estimates ranging from $2.45 billion to $2.48 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.57 billion, with estimates ranging from $2.38 billion to $2.72 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Installed Building Products.

Installed Building Products (NYSE:IBPGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The construction company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.42. The company had revenue of $587.50 million during the quarter, compared to analysts’ expectations of $541.59 million. Installed Building Products had a net margin of 6.38% and a return on equity of 45.84%. The business’s revenue was up 34.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.90 EPS.

IBP has been the subject of a number of recent analyst reports. The Goldman Sachs Group dropped their target price on shares of Installed Building Products from $114.00 to $95.00 and set a “neutral” rating for the company in a research report on Tuesday, April 12th. JPMorgan Chase & Co. dropped their target price on shares of Installed Building Products from $101.00 to $88.00 and set a “neutral” rating for the company in a research report on Wednesday, April 20th. Jefferies Financial Group cut shares of Installed Building Products from a “buy” rating to a “hold” rating and dropped their target price for the stock from $117.00 to $105.00 in a research report on Monday, March 21st. Zacks Investment Research raised shares of Installed Building Products from a “sell” rating to a “hold” rating in a report on Wednesday, May 4th. Finally, BTIG Research decreased their price objective on shares of Installed Building Products from $124.00 to $108.00 in a report on Friday, May 6th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Installed Building Products currently has a consensus rating of “Hold” and an average target price of $115.50.

In other Installed Building Products news, Director Lawrence A. Hilsheimer bought 513 shares of Installed Building Products stock in a transaction dated Monday, February 28th. The shares were bought at an average price of $97.30 per share, with a total value of $49,914.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.90% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System boosted its stake in shares of Installed Building Products by 0.9% in the 4th quarter. Louisiana State Employees Retirement System now owns 11,400 shares of the construction company’s stock valued at $1,593,000 after purchasing an additional 100 shares during the last quarter. Aurora Investment Counsel boosted its stake in shares of Installed Building Products by 1.6% in the 1st quarter. Aurora Investment Counsel now owns 7,450 shares of the construction company’s stock valued at $629,000 after purchasing an additional 115 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of Installed Building Products by 1.3% in the 4th quarter. Maryland State Retirement & Pension System now owns 9,356 shares of the construction company’s stock valued at $1,307,000 after purchasing an additional 123 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Installed Building Products by 38.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 449 shares of the construction company’s stock valued at $63,000 after purchasing an additional 125 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Installed Building Products by 0.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 19,099 shares of the construction company’s stock valued at $2,669,000 after purchasing an additional 133 shares during the last quarter. 98.94% of the stock is currently owned by institutional investors.

Shares of Installed Building Products stock opened at $86.75 on Wednesday. The stock has a market capitalization of $2.54 billion, a P/E ratio of 18.98 and a beta of 1.78. The company has a quick ratio of 2.08, a current ratio of 2.57 and a debt-to-equity ratio of 2.13. The company has a 50-day simple moving average of $86.22 and a 200 day simple moving average of $108.31. Installed Building Products has a 12-month low of $75.95 and a 12-month high of $141.43.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be paid a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Tuesday, June 14th. Installed Building Products’s dividend payout ratio (DPR) is presently 27.57%.

About Installed Building Products (Get Rating)

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. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

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