Installed Building Products Inc (IBP) reported quarterly earnings results on Friday, Aug-5-2016. The company reported $0.34 earnings per share for the quarter, missing the analyst consensus estimate by $-0.02. Analysts had a consensus of $0.36. The company posted revenue of $211.90 million in the period, compared to analysts expectations of $211.34 million. The company’s revenue was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS.
Many Wall Street Analysts have commented on Installed Building Products Inc. Company shares were Reiterated by RBC Capital Mkts on May 9, 2016 to “Outperform”, Firm has raised the Price Target to $ 36 from a previous price target of $31 .
Installed Building Products Inc closed down -1.38 points or -3.85% at $34.47 with 4,60,716 shares getting traded on Thursday. Post opening the session at $35.82, the shares hit an intraday low of $34.35 and an intraday high of $35.83 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
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.