DA Davidson Analysts Lower Earnings Estimates for IBP

Installed Building Products, Inc. (NYSE:IBP - Free Report) - Equities research analysts at DA Davidson dropped their Q3 2024 EPS estimates for Installed Building Products in a research report issued on Thursday, October 24th. DA Davidson analyst K. Yinger now expects that the construction company will post earnings per share of $2.83 for the quarter, down from their previous forecast of $2.96. The consensus estimate for Installed Building Products' current full-year earnings is $11.06 per share. DA Davidson also issued estimates for Installed Building Products' FY2024 earnings at $10.95 EPS and FY2025 earnings at $12.09 EPS.

IBP has been the subject of a number of other reports. Royal Bank of Canada boosted their target price on shares of Installed Building Products from $201.00 to $203.00 and gave the company a "sector perform" rating in a report on Friday, August 2nd. StockNews.com upgraded shares of Installed Building Products from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Truist Financial boosted their price objective on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a "hold" rating in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their price objective on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Finally, Evercore ISI boosted their price objective on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Installed Building Products has a consensus rating of "Moderate Buy" and an average price target of $254.40.

Installed Building Products Trading Up 1.9 %

Shares of NYSE:IBP traded up $4.27 during trading on Monday, reaching $234.71. The stock had a trading volume of 138,133 shares, compared to its average volume of 287,135. The business has a fifty day moving average price of $231.00 and a 200-day moving average price of $225.90. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24. The stock has a market cap of $6.68 billion, a P/E ratio of 26.52 and a beta of 1.94. Installed Building Products has a fifty-two week low of $108.57 and a fifty-two week high of $281.04.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.77 by $0.13. The company had revenue of $737.60 million during the quarter, compared to analysts' expectations of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Sunday, September 15th were given a $0.35 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.60%. Installed Building Products's payout ratio is currently 15.84%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Installed Building Products by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company's stock valued at $683,421,000 after purchasing an additional 18,890 shares during the last quarter. Swedbank AB lifted its position in Installed Building Products by 11.6% in the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company's stock valued at $85,357,000 after purchasing an additional 43,000 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Installed Building Products by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company's stock valued at $46,572,000 after purchasing an additional 4,943 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Installed Building Products by 1,328.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company's stock valued at $51,107,000 after buying an additional 183,696 shares during the period. Finally, Millennium Management LLC increased its stake in Installed Building Products by 395.3% during the 2nd quarter. Millennium Management LLC now owns 143,166 shares of the construction company's stock valued at $29,446,000 after buying an additional 114,259 shares during the period. 99.61% of the stock is currently owned by institutional investors.

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.