Installed Building Products (IBP) Scheduled to Post Quarterly Earnings on Thursday

Installed Building Products (NYSE:IBP) will be posting its quarterly earnings results before the market opens on Thursday, May 9th. Analysts expect Installed Building Products to post earnings of $2.08 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.03. The business had revenue of $720.70 million during the quarter, compared to the consensus estimate of $688.59 million. Installed Building Products had a net margin of 8.77% and a return on equity of 47.18%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.34 EPS. On average, analysts expect Installed Building Products to post $11 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Installed Building Products Trading Down 4.8 %

Shares of Installed Building Products stock opened at $237.07 on Wednesday. The stock has a 50 day moving average of $242.89 and a 200 day moving average of $195.90. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.62 and a current ratio of 3.09. The firm has a market capitalization of $6.74 billion, a price-to-earnings ratio of 27.53 and a beta of 1.91. Installed Building Products has a fifty-two week low of $103.50 and a fifty-two week high of $263.76.

Installed Building Products Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Stockholders of record on Friday, March 15th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Installed Building Products’s previous quarterly dividend of $0.33. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.70%. Installed Building Products’s dividend payout ratio is currently 16.26%.

Analyst Upgrades and Downgrades

IBP has been the topic of a number of recent analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Installed Building Products in a research report on Thursday, February 1st. Truist Financial lifted their target price on shares of Installed Building Products from $200.00 to $235.00 and gave the company a “hold” rating in a report on Friday, February 23rd. Evercore ISI upped their price target on Installed Building Products from $226.00 to $272.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. cut Installed Building Products from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $199.00 to $242.00 in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada increased their target price on Installed Building Products from $188.00 to $216.00 and gave the stock a “sector perform” rating in a research note on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $208.40.

Insider Buying and Selling

In other Installed Building Products news, COO Brad A. Wheeler sold 1,119 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $244.22, for a total value of $273,282.18. Following the sale, the chief operating officer now owns 6,679 shares of the company’s stock, valued at approximately $1,631,145.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Todd R. Fry sold 500 shares of Installed Building Products stock in a transaction on Monday, March 11th. The shares were sold at an average price of $233.50, for a total transaction of $116,750.00. Following the completion of the sale, the chief accounting officer now directly owns 7,176 shares of the company’s stock, valued at approximately $1,675,596. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Brad A. Wheeler sold 1,119 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $244.22, for a total value of $273,282.18. Following the completion of the transaction, the chief operating officer now directly owns 6,679 shares in the company, valued at approximately $1,631,145.38. The disclosure for this sale can be found here. Insiders sold 6,619 shares of company stock valued at $1,606,732 in the last three months. 16.50% of the stock is owned by corporate insiders.

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 United States. It operates through Installation, Distribution, and Manufacturing operation segments.