Installed Building Products Inc (NYSE:IBP) – Equities researchers at SunTrust Banks boosted their Q2 2020 earnings estimates for shares of Installed Building Products in a research report issued on Wednesday, July 8th. SunTrust Banks analyst K. Hughes now expects that the construction company will earn $0.58 per share for the quarter, up from their prior estimate of $0.56. SunTrust Banks has a “Buy” rating and a $80.00 price target on the stock. SunTrust Banks also issued estimates for Installed Building Products’ Q3 2020 earnings at $0.82 EPS and FY2020 earnings at $3.12 EPS.

Several other equities research analysts have also commented on IBP. Deutsche Bank dropped their price target on shares of Installed Building Products from $82.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Royal Bank of Canada reiterated a “buy” rating and issued a $58.00 price objective on shares of Installed Building Products in a report on Wednesday, March 18th. Credit Suisse Group assumed coverage on shares of Installed Building Products in a report on Wednesday, May 27th. They set an “outperform” rating and a $79.00 target price for the company. Nomura raised their price objective on shares of Installed Building Products from $59.00 to $65.00 in a research note on Wednesday, May 27th. Finally, Evercore ISI upgraded shares of Installed Building Products from an “in-line” rating to an “outperform” rating and set a $45.00 target price for the company in a research report on Thursday, April 2nd. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $66.08.

IBP opened at $69.55 on Monday. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 27.71 and a beta of 1.82. Installed Building Products has a fifty-two week low of $29.02 and a fifty-two week high of $80.25. The company’s 50-day moving average price is $68.65 and its 200 day moving average price is $61.23. The company has a quick ratio of 2.46, a current ratio of 2.83 and a debt-to-equity ratio of 2.36.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Friday, May 8th. The construction company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.17. The company had revenue of $397.30 million during the quarter, compared to analysts’ expectations of $381.87 million. Installed Building Products had a net margin of 4.81% and a return on equity of 45.79%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 EPS.

A number of hedge funds have recently made changes to their positions in IBP. USA Financial Portformulas Corp bought a new position in shares of Installed Building Products in the first quarter worth about $31,000. NumerixS Investment Technologies Inc bought a new position in shares of Installed Building Products in the fourth quarter worth about $48,000. Oppenheimer Asset Management Inc. raised its stake in shares of Installed Building Products by 30.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 1,210 shares of the construction company’s stock worth $48,000 after acquiring an additional 282 shares during the last quarter. Pinz Capital Management LP bought a new position in shares of Installed Building Products in the first quarter worth about $50,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Installed Building Products during the fourth quarter worth approximately $74,000. 68.35% of the stock is owned by hedge funds and other 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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