FY2024 Earnings Estimate for IBP Issued By DA Davidson

Installed Building Products, Inc. (NYSE:IBP) – Stock analysts at DA Davidson decreased their FY2024 earnings per share (EPS) estimates for shares of Installed Building Products in a report released on Friday, November 8th. DA Davidson analyst K. Yinger now anticipates that the construction company will post earnings of $10.81 per share for the year, down from their previous estimate of $10.95. DA Davidson currently has a “Buy” rating and a $260.00 target price on the stock. The consensus estimate for Installed Building Products’ current full-year earnings is $10.97 per share. DA Davidson also issued estimates for Installed Building Products’ Q4 2024 earnings at $2.81 EPS and FY2025 earnings at $11.72 EPS.

Installed Building Products (NYSE:IBP) last released its earnings results on Thursday, November 7th. The construction company reported $2.73 EPS for the quarter, missing analysts’ consensus estimates of $2.86 by ($0.13). Installed Building Products had a net margin of 8.74% and a return on equity of 43.56%. The business had revenue of $760.60 million for the quarter, compared to the consensus estimate of $757.91 million.

A number of other equities research analysts have also weighed in on IBP. The Goldman Sachs Group lifted their target price on Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Stephens reaffirmed an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a research report on Monday, August 5th. Jefferies Financial Group raised their price objective on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Evercore ISI lifted their price target on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Truist Financial increased their price target on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Installed Building Products presently has an average rating of “Hold” and a consensus target price of $252.30.

Installed Building Products Trading Down 3.2 %

Shares of IBP opened at $210.26 on Monday. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 23.36 and a beta of 1.95. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.59. Installed Building Products has a 1-year low of $121.83 and a 1-year high of $281.04. The company has a 50-day moving average of $231.09 and a 200 day moving average of $225.16.

Installed Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be paid a $0.35 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.67%. Installed Building Products’s payout ratio is 15.56%.

Institutional Investors Weigh In On Installed Building Products

A number of hedge funds and other institutional investors have recently made changes to their positions in IBP. Intech Investment Management LLC boosted its stake in shares of Installed Building Products by 496.2% during the 3rd quarter. Intech Investment Management LLC now owns 16,850 shares of the construction company’s stock worth $4,150,000 after acquiring an additional 14,024 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Installed Building Products by 152.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after purchasing an additional 140 shares during the period. Global Alpha Capital Management Ltd. boosted its position in Installed Building Products by 1.6% during the third quarter. Global Alpha Capital Management Ltd. now owns 65,299 shares of the construction company’s stock worth $16,081,000 after purchasing an additional 1,000 shares in the last quarter. Segall Bryant & Hamill LLC boosted its position in Installed Building Products by 149.3% during the third quarter. Segall Bryant & Hamill LLC now owns 81,075 shares of the construction company’s stock worth $19,966,000 after purchasing an additional 48,559 shares in the last quarter. Finally, Premier Fund Managers Ltd grew its holdings in Installed Building Products by 41.6% in the third quarter. Premier Fund Managers Ltd now owns 80,108 shares of the construction company’s stock valued at $20,051,000 after purchasing an additional 23,532 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Company Profile

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.