Installed Building Products Inc (IBP) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.21 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $0.12. The company posted revenue of $191.70 million in the period, compared to analysts expectations of $173.70 million. The company’s revenue was up 47.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS.
Many Wall Street Analysts have commented on Installed Building Products Inc. Installed Building Products Inc was Upgraded by Sun Trust Rbsn Humphrey to ” Buy” on Mar 17, 2016.
Installed Building Products Inc opened for trading at $26.07 and hit $26.82 on the upside on Wednesday, eventually ending the session at $26.58, with a gain of 0.72% or 0.19 points. The heightened volatility saw the trading volume jump to 1,16,176 shares. Company has a market cap of $834 M.
In a different news, on Mar 15, 2016, Lawrence A. Hilsheimer (director) purchased 4,300 shares at $23.27 per share price. According to the SEC, on Nov 30, 2015, Jeffrey W. Edwards (CEO) purchased 20,000 shares at $24.64 per share price.
Installed Building Products Inc. is a residential insulation installer in the United States. The Company’s national platform consists of over 100 locations accessing customers in all 48 continental states and the District of Columbia. The Company also installs complementary building products including garage doors rain gutters shower doors closet shelving and mirrors which provides cross-selling opportunities to supplement the insulation installation business. The Company manages various aspects of the installation process for the customers from the direct purchase and receipt of materials from national manufacturers to supply of materials to job sites and quality installation. The Company’s customers include production and custom homebuilders multi-family and commercial contractors and homeowners.