Third Quarter 2022 Earnings Estimate for Installed Building Products, Inc. (NYSE:IBP) Released by Jefferies Financial Group

Installed Building Products, Inc. (NYSE:IBP – Get Rating) – Equity analysts at Jefferies Financial Group raised their third quarter 2022 earnings per share estimates for Installed Building Products shares in a report released Monday, 8 august. Jefferies Financial Group analyst P. Ng now expects the construction company to post earnings per share of $2.14 for the quarter, up from its previous estimate of $1.93. The consensus estimate for Installed Building Products‘ current annual earnings is $7.16 per share. Jefferies Financial Group also released earnings estimates for Installed Building Products for the fourth quarter of 2022 at $1.88 EPS.

PBI has been the subject of several other research reports. Goldman Sachs Group cut its price target on installed building products from $105.00 to $90.00 and set a “neutral” rating for the company in a Thursday, June 23 report. Zelman & Associates upgraded installed building products from a “buy” rating to a “hold” rating in a Friday, August 5, report. Royal Bank of Canada downgraded Installed Building Products from an ‘sector performer’ rating to an ‘underperformer’ rating and lowered its price target for the company from $91.00 to 71.00 $ in a report from Wednesday, June 22. Stephens raised its price target on installed building products from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, StockNews.com upgraded installed construction products from a “hold” rating to a “buy” rating in a research note on Monday. One equity research analyst gave the stock a sell rating, eight gave the stock a hold rating and two gave the stock a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $106.40.

Performance of installed construction product inventories

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IBP traded $4.72 on Wednesday, hitting $102.77. 704 shares were traded, against an average volume of 225,724. The company’s 50-day moving average price is $90.65 and its 200-day moving average price is $92.66. Installed Building Products has a fifty-two week low of $69.44 and a fifty-two week high of $141.43. The company has a debt ratio of 2.08, a current ratio of 2.25 and a quick ratio of 1.72. The company has a market capitalization of $2.95 billion, a PE ratio of 18.22 and a beta of 1.79.

Installed Building Products (NYSE:IBP – Get Rating) last reported quarterly results on Thursday, August 4. The construction company reported earnings per share (EPS) of $2.48 for the quarter, beating consensus analyst estimates of $1.94 by $0.54. The company posted revenue of $676.70 million for the quarter, versus a consensus estimate of $611.12 million. Installed Building Products had a return on equity of 50.89% and a net margin of 6.85%. The company’s revenue increased by 38.6% compared to the same quarter last year. During the same period last year, the company posted EPS of $1.59.

Institutional Trade in Installed Building Products

A number of large investors have recently changed their stock holdings. The Swiss National Bank increased its position in Installed Building Products shares by 18.5% during the second quarter. The Swiss National Bank now owns 66,633 shares of the construction company worth $5,541,000 after acquiring an additional 10,400 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Installed Building Products during the second quarter at a value of $72,000. Advisors Asset Management Inc. increased its position in Installed Building Products shares by 38.6% during the second quarter. Advisors Asset Management Inc. now owns 2,461 shares of the construction company worth $205,000 after acquiring an additional 686 shares during the period. Texas Permanent School Fund increased its position in Installed Building Products shares by 0.8% during the second quarter. Texas Permanent School Fund now owns 16,766 shares of the construction company worth $1,394,000 after acquiring 128 additional shares during the period. Finally, Global Alpha Capital Management Ltd. acquired a new stake in shares of Installed Building Products during the second quarter at a value of $9,306,000. Hedge funds and other institutional investors own 98.94% of the company’s shares.

Announcement of the installed building products dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30. Shareholders of record on Thursday, September 15 will receive a dividend of $0.315 per share. This represents a dividend of $1.26 on an annualized basis and a yield of 1.23%. The ex-dividend date is Wednesday, September 14. Installed Building Products’ dividend payout ratio (DPR) is 23.42%.

About installed building products

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Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, firestopping, fireproofing, garage doors, gutters, blinds, shower, closet shelves and mirrors, and other products in the continental United States. states. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

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