Installed Building Products Inc (NYSE:IBP) – Equities research analysts at KeyCorp increased their FY2019 earnings per share estimates for Installed Building Products in a research note issued to investors on Tuesday, November 5th. KeyCorp analyst K. Zener now forecasts that the construction company will earn $3.05 per share for the year, up from their prior estimate of $2.92. KeyCorp also issued estimates for Installed Building Products’ Q4 2019 earnings at $0.83 EPS and FY2020 earnings at $3.65 EPS.
Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Friday, November 1st. The construction company reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.13. Installed Building Products had a net margin of 4.47% and a return on equity of 45.94%. The firm had revenue of $396.40 million for the quarter, compared to the consensus estimate of $385.46 million. During the same quarter in the prior year, the company posted $0.72 earnings per share. The business’s revenue was up 13.6% on a year-over-year basis.
Several other brokerages also recently commented on IBP. Stephens increased their target price on shares of Installed Building Products from $61.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday. Zacks Investment Research upgraded shares of Installed Building Products from a “hold” rating to a “strong-buy” rating and set a $81.00 target price for the company in a report on Thursday. SunTrust Banks increased their target price on shares of Installed Building Products to $71.00 and gave the company a “hold” rating in a report on Monday. Nomura increased their target price on shares of Installed Building Products from $61.00 to $65.00 and gave the company a “neutral” rating in a report on Monday. Finally, ValuEngine upgraded shares of Installed Building Products from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $58.18.
Shares of IBP stock traded up $0.16 on Friday, hitting $69.35. The stock had a trading volume of 2,222 shares, compared to its average volume of 325,601. The business has a 50 day moving average of $62.41 and a 200 day moving average of $56.59. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 25.94, a price-to-earnings-growth ratio of 1.49 and a beta of 1.17. The company has a debt-to-equity ratio of 2.52, a current ratio of 2.69 and a quick ratio of 1.85. Installed Building Products has a 12-month low of $30.54 and a 12-month high of $76.60.
In related news, Director Vikas Verma sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the sale, the director now owns 151,935 shares in the company, valued at $9,116,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Jeffrey Hire sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $56.00, for a total transaction of $448,000.00. Following the sale, the insider now owns 34,516 shares of the company’s stock, valued at approximately $1,932,896. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,000 shares of company stock valued at $3,116,160. 25.20% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. bought a new position in Installed Building Products during the third quarter worth about $42,000. Tower Research Capital LLC TRC raised its stake in Installed Building Products by 527.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,588 shares of the construction company’s stock valued at $94,000 after purchasing an additional 1,335 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Installed Building Products in the third quarter valued at approximately $121,000. Bank of Montreal Can raised its stake in Installed Building Products by 178.7% in the second quarter. Bank of Montreal Can now owns 2,954 shares of the construction company’s stock valued at $175,000 after purchasing an additional 1,894 shares in the last quarter. Finally, Nkcfo LLC purchased a new stake in Installed Building Products in the third quarter valued at approximately $195,000. Institutional investors and hedge funds own 68.60% 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 continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.
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