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Installed Building Products Stock Just Within Buy Range As Quarterly Report Nears

To build your earnings season watch list, look for stocks in or near a potential buy zone ahead of their next report. Installed Building Products (IBP) currently fits that bill. It’s expected to first-quarter report on May 7.

Construction materials and building and installations services firms have been doing well on the coattails of the housing boom. The housing sector is a bright spot in the economy during the pandemic.

Is Installed Building Products Stock A Buy?

Installed Building Products stock is trading at the top of the buy range,  approximately 4% above a 130.21 buy point from a first-stage consolidation. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips.

 




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Keep in mind that buying just before a stock reports can be risky. You don’t know how the stock will report and how the market will react, and you don’t have enough time to build a profit cushion. You can minimize your risk by waiting to see the actual numbers and the market’s reaction.


Looking For Winning Stocks? Try This Simple Routine


The installation contractor saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 22% to 34%. Revenue rose from 6% to 10%.

Analysts expect earnings-per-share growth of 33% for the quarter, and 35% growth for the full year. Annual growth estimates were recently revised higher.

The company has a 96 Composite Rating and holds the No. 1 rank among its peers in the Building-Maintenance & Services industry group. IES Holdings (IESC) and MYR Group (MYRG) are also among the group’s highest-rated stocks. For more industry news on housing and related stocks, check out “Homebuilder Stocks To Watch And Housing Market & Real Estate News.”

Note: Dates for earnings reports are subject to change. Check the company’s website for any updates.

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