Wall Street brokerages expect Installed Building Products Inc (NYSE:IBP) to announce sales of $350.39 million for the current quarter, Zacks reports. Five analysts have issued estimates for Installed Building Products’ earnings, with the lowest sales estimate coming in at $340.28 million and the highest estimate coming in at $355.80 million. Installed Building Products posted sales of $299.87 million during the same quarter last year, which suggests a positive year over year growth rate of 16.8%. The business is expected to report its next earnings report on Wednesday, February 27th.

On average, analysts expect that Installed Building Products will report full-year sales of $1.33 billion for the current financial year, with estimates ranging from $1.32 billion to $1.34 billion. For the next year, analysts expect that the company will post sales of $1.48 billion, with estimates ranging from $1.42 billion to $1.52 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Installed Building Products.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Thursday, November 1st. The construction company reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.07). Installed Building Products had a return on equity of 29.03% and a net margin of 3.82%. The firm had revenue of $349.00 million during the quarter, compared to analyst estimates of $346.39 million. During the same quarter in the previous year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis.

IBP has been the topic of several research analyst reports. ValuEngine upgraded Installed Building Products from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. Jefferies Financial Group reiterated a “buy” rating and issued a $71.00 price objective on shares of Installed Building Products in a report on Friday, August 3rd. Royal Bank of Canada set a $66.00 price objective on Installed Building Products and gave the stock a “buy” rating in a report on Friday, August 3rd. Stephens reiterated a “buy” rating and issued a $65.00 price objective on shares of Installed Building Products in a report on Wednesday, August 8th. Finally, Zelman & Associates cut Installed Building Products from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Installed Building Products currently has an average rating of “Hold” and an average target price of $52.70.

IBP stock traded down $2.23 during trading on Monday, hitting $34.00. The stock had a trading volume of 92,094 shares, compared to its average volume of 254,346. The company has a current ratio of 2.59, a quick ratio of 2.30 and a debt-to-equity ratio of 2.04. Installed Building Products has a twelve month low of $29.24 and a twelve month high of $79.40. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 28.86, a PEG ratio of 1.13 and a beta of 1.08.

In other Installed Building Products news, CEO Jeffrey W. Edwards sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $34.11, for a total value of $5,116,500.00. Following the transaction, the chief executive officer now directly owns 300,159 shares of the company’s stock, valued at approximately $10,238,423.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 31.10% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alps Advisors Inc. purchased a new position in Installed Building Products in the 2nd quarter worth approximately $614,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Installed Building Products during the 2nd quarter valued at approximately $146,000. FMR LLC raised its position in shares of Installed Building Products by 150.4% during the 2nd quarter. FMR LLC now owns 426,005 shares of the construction company’s stock valued at $24,090,000 after buying an additional 255,900 shares during the period. Amalgamated Bank purchased a new stake in shares of Installed Building Products during the 2nd quarter valued at approximately $202,000. Finally, BlackRock Inc. raised its position in shares of Installed Building Products by 4.1% during the 2nd quarter. BlackRock Inc. now owns 3,170,901 shares of the construction company’s stock valued at $179,315,000 after buying an additional 123,489 shares during the period. 69.79% of the stock is currently owned by institutional investors and hedge funds.

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

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