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Installed Building Products (IBP) Soars 6.2%: Is Further Upside Left in the Stock?

Installed Building Products (IBP) shares rallied 6.2% in the last trading session to close at $83.78. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 14.5% loss over the past four weeks.

The company has been gaining from the strong end-market demand, the continued success of local branches, asset-light business model and proficient acquisition strategies.

This residential insulation installer is expected to post quarterly earnings of $2.32 per share in its upcoming report, which represents a year-over-year change of +55.7%. Revenues are expected to be $673.95 million, up 32.2% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Installed Building Products, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on IBP going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Installed Building Products belongs to the Zacks Building Products - Miscellaneous industry. Another stock from the same industry, TopBuild (BLD), closed the last trading session 6.2% higher at $167.97. Over the past month, BLD has returned -14.4%.

TopBuild's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $4.09. Compared to the company's year-ago EPS, this represents a change of +38.6%. TopBuild currently boasts a Zacks Rank of #3 (Hold).


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Installed Building Products, Inc. (IBP): Free Stock Analysis Report
 
TopBuild Corp. (BLD): Free Stock Analysis Report
 
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