Installed Building Products Inc (NYSE:IBP) to Post Q3 2019 Earnings of $0.88 Per Share, Seaport Global Securities Forecasts

Installed Building Products Inc (NYSE:IBP) – Equities researchers at Seaport Global Securities increased their Q3 2019 earnings per share estimates for Installed Building Products in a research report issued on Sunday, August 11th. Seaport Global Securities analyst M. Mccall now anticipates that the construction company will post earnings of $0.88 per share for the quarter, up from their prior estimate of $0.86. Seaport Global Securities also issued estimates for Installed Building Products’ Q4 2019 earnings at $0.84 EPS and FY2020 earnings at $3.45 EPS.

A number of other research analysts also recently issued reports on the stock. Royal Bank of Canada set a $50.00 target price on shares of Installed Building Products and gave the company a “hold” rating in a research report on Friday, May 3rd. Deutsche Bank upped their target price on shares of Installed Building Products from $47.00 to $55.00 and gave the company a “positive” rating in a research report on Monday, May 6th. SunTrust Banks upped their target price on shares of Installed Building Products from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Zacks Investment Research downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Nomura upped their target price on shares of Installed Building Products from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $47.97.

Installed Building Products stock opened at $55.44 on Wednesday. The company has a current ratio of 2.24, a quick ratio of 1.91 and a debt-to-equity ratio of 2.44. Installed Building Products has a 1 year low of $29.24 and a 1 year high of $59.93. The company has a market cap of $1.67 billion, a PE ratio of 20.76, a PEG ratio of 1.17 and a beta of 1.23. The company’s 50-day moving average is $55.26 and its two-hundred day moving average is $50.98.

Installed Building Products (NYSE:IBP) last released its earnings results on Thursday, August 8th. The construction company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Installed Building Products had a net margin of 4.22% and a return on equity of 43.59%. The company had revenue of $371.80 million for the quarter, compared to the consensus estimate of $367.03 million. During the same period in the prior year, the company posted $0.78 EPS. The company’s revenue was up 11.8% compared to the same quarter last year.

In other news, Director Vikas Verma sold 40,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $57.50, for a total value of $2,300,000.00. Following the completion of the sale, the director now directly owns 191,935 shares of the company’s stock, valued at approximately $11,036,262.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael Thomas Miller sold 27,404 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $57.55, for a total value of $1,577,100.20. Following the completion of the sale, the vice president now directly owns 35,973 shares of the company’s stock, valued at $2,070,246.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,457 shares of company stock valued at $6,307,749. 25.20% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. 361 Capital LLC bought a new stake in shares of Installed Building Products in the 1st quarter worth $3,099,000. Legal & General Group Plc raised its holdings in shares of Installed Building Products by 4.5% during the 4th quarter. Legal & General Group Plc now owns 53,551 shares of the construction company’s stock valued at $1,802,000 after buying an additional 2,307 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Installed Building Products by 746.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,139 shares of the construction company’s stock valued at $249,000 after buying an additional 4,532 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Installed Building Products during the 1st quarter valued at about $445,000. Finally, First Quadrant L P CA purchased a new position in shares of Installed Building Products during the 1st quarter valued at about $94,000. 70.33% of the stock is owned by institutional investors.

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

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