DA Davidson Has Negative Estimate for IBP Q3 Earnings

Installed Building Products, Inc. (NYSE:IBP) – Equities researchers at DA Davidson decreased their Q3 2024 EPS estimates for shares of Installed Building Products in a research report issued to clients and investors on Thursday, October 24th. DA Davidson analyst K. Yinger now anticipates that the construction company will post earnings of $2.83 per share for the quarter, down from their previous estimate 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.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.13. The company had revenue of $737.60 million for the quarter, compared to analyst estimates of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%.

Several other analysts have also commented on IBP. StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Evercore ISI raised their target price on shares of Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Royal Bank of Canada upped their price target on Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Stephens reiterated an “equal weight” rating and set a $240.00 price objective on shares of Installed Building Products in a report on Monday, August 5th. Finally, The Goldman Sachs Group boosted their target price on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $254.40.

Installed Building Products Trading Down 0.1 %

Shares of NYSE IBP opened at $230.44 on Monday. Installed Building Products has a 1-year low of $106.92 and a 1-year high of $281.04. The business has a fifty day moving average price of $231.00 and a 200 day moving average price of $225.90. The stock has a market capitalization of $6.56 billion, a P/E ratio of 26.07 and a beta of 1.94. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Sunday, September 15th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.61%. Installed Building Products’s payout ratio is 15.84%.

Institutional Trading of Installed Building Products

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Diversified Trust Co grew its stake in shares of Installed Building Products by 4.7% during the 1st quarter. Diversified Trust Co now owns 1,975 shares of the construction company’s stock worth $511,000 after purchasing an additional 89 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Installed Building Products in the first quarter valued at $29,000. Ashton Thomas Private Wealth LLC purchased a new position in Installed Building Products in the first quarter valued at $850,000. Van ECK Associates Corp raised its position in shares of Installed Building Products by 17.6% in the first quarter. Van ECK Associates Corp now owns 14,904 shares of the construction company’s stock worth $3,856,000 after acquiring an additional 2,234 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Installed Building Products during the 1st quarter worth about $238,000. 99.61% of the stock is owned by institutional investors and hedge funds.

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.