Analysts are more optimistic about Installed Building Products' future after recent results, expecting its revenue growth to outpace the industry despite a slowdown. The consensus earnings per share upgrade indicates improved sentiment about the company's earnings potential next year.
Installed Building Products' high P/E ratio is justified by its superior earnings outlook. Shareholders are confident in the company's future earnings and the strong share price surge indicates a stable stock price.
The high P/E of Installed Building Products is worrying due to analysts predicting a downturn in earnings next year. Investors hoping for a company turnaround may face disappointment if the P/E ratio aligns with the negative growth forecast.
Insiders selling shares below current price signals possible negatives. High insider ownership suggests management interest alignment with shareholders. Lack of insider buying within the past year may raise concerns. Investors should consider both insider trading activities and potential stock risks before investing.
Rehaut believes the shares of TopBuild and Installed Building Product will keep rising despite both having soared by 113% and 95% respectively year-to-date, which outperformed analyst expectations. Stanley's stock, however, is anticipated to underperform according to the downgrade.
Installed Building Products (NYSE: IBP) is the second largest new residential insulation installer in the US. IBP experienced significant revenue growth since its IPO in 2014. By 2022, its revenue had increased by 5-fold while its total assets had risen by 8 times. But the growth came from a combination of acquisitions and tailwinds from a growing construction sector. But this is not a sustainable growth model ...
Despite higher EPS growth, the market's enthusiasm for the stock has waned. Recent TSR performance paints a better picture, but 2 warning signs for Installed Building Products may pose risks for investors.
Installed Building Products股票讨论区
Installed Building Products: Unsustainable Growth and the Need for a Course Correction
But this is not a sustainable growth model ...
2023前两季度营收增长6.9%,营业利润增长13.6%,净利润增长18.3%。
5年来资产负债率从78.1%下降到72.3%,2023Q2进一步下降到69.5%,杠杆率在板块内属于很高。应收账款和存货都很少。
商誉及其他无形资产6.73亿,是5.61亿净资产的1.2倍,资产很虚。长期借款8.31亿,杠杆率非常高。
5年来现金流经营净额微小幅度超过投资净额,股东盈余很少。
目前市盈率19.8,市盈率TTM微降到18.2,考虑到目前增速放缓,板块周期问题,暂时观望。
毛利率基本在29%上下,净资产收益率从22.6%提升到了30%以上,非常吸引人。
5年来营收、营业利润和净利润都保持增长,净利润平均增长率为25%。2022Q1分别增长34.4%,83.2%和95.6%,增速还没放缓。
利润表显示利息费用目前占营收的17%,负担不小,奇怪的是利润增长这么好的情况下负债似乎没有减少。
5年来资产负债表先从71.5%上升到77.3%后逐步下降,目前为76.4%,又回升了一些。
2021年应收帐款和存货共计增长1.1亿,接近全年净利1.2亿,2021年现金流一定很差。
应收和存货占营收比例还算正常。
商誉及其他无形资产5.83亿,占净资产3.9亿的150%,资产很虚。长期借款8.3亿,占净资产3.9亿的213%,杠杆率太高。
5年来现金流经营净额低于投资净额,没有股东盈余。
综合上面的分析,目前没有吸引力。
专栏Top upgrades and downgrades on 6/22: JNJ, NKE, BURL, CI and more
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