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Installed Building (IBP) Acquires Alpine Construction Services
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Installed Building Products, Inc. (IBP - Free Report) recently acquired Colorado Springs-based fiberglass and spray foam insulation installation service provider Alpine Construction Services, LLC. However, financial terms of the transaction have been kept under wraps.
Alpine is a rapidly growing installer business that generates revenues of $9.4 million annually. With the addition of Alpine, Installed Building will bolster its insulation installation services across the Colorado Springs market.
With respect to this, Chairman and Chief Executive Officer of Installed Building, stated, “Acquisitions remain a key component of our growth strategy and we continue to have a robust pipeline of acquisition opportunities across multiple geographies, products, and end markets. On behalf of everyone at Installed Building Products, I would like to welcome Alpine Construction onto our team.”
Inorganic Strategies Driving Performance
Inorganic moves are a very important aspect of Installed Building’s growth strategy. So far in 2021, the company has acquired approximately $65 million in annual revenues. The company has a strong pipeline of acquisition opportunities across multiple geographies, products and end markets.
On Apr 13, 2021, the company announced the acquisition of California-Based Alert Insulation. Alert Insulation is a leading provider of fiberglass insulation installation, fireproofing services and acoustical ceiling system installation to commercial customers. On Mar 1, 2021, Installed Building announced the buyout of I.W. International Insulation, Inc., thereby boosting the company’s presence across the regions of Washington, Oregon, and Idaho.
Installed Building’s shares have surged 29.6% for far this year compared with the Zacks Building Products – Miscellaneous industry’s 17.2% rally. Also, the company’s earnings estimates for 2021 have moved up 0.4% over the past 30 days, depicting analysts’ optimism regarding the company’s earnings growth potential.
Owens Corning, TopBuild and United Rentals are expected to witness 25.9%, 33.2% and 7.9% earnings growth in 2021, respectively.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
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Installed Building (IBP) Acquires Alpine Construction Services
Installed Building Products, Inc. (IBP - Free Report) recently acquired Colorado Springs-based fiberglass and spray foam insulation installation service provider Alpine Construction Services, LLC. However, financial terms of the transaction have been kept under wraps.
Alpine is a rapidly growing installer business that generates revenues of $9.4 million annually. With the addition of Alpine, Installed Building will bolster its insulation installation services across the Colorado Springs market.
With respect to this, Chairman and Chief Executive Officer of Installed Building, stated, “Acquisitions remain a key component of our growth strategy and we continue to have a robust pipeline of acquisition opportunities across multiple geographies, products, and end markets. On behalf of everyone at Installed Building Products, I would like to welcome Alpine Construction onto our team.”
Inorganic Strategies Driving Performance
Inorganic moves are a very important aspect of Installed Building’s growth strategy. So far in 2021, the company has acquired approximately $65 million in annual revenues. The company has a strong pipeline of acquisition opportunities across multiple geographies, products and end markets.
On Apr 13, 2021, the company announced the acquisition of California-Based Alert Insulation. Alert Insulation is a leading provider of fiberglass insulation installation, fireproofing services and acoustical ceiling system installation to commercial customers. On Mar 1, 2021, Installed Building announced the buyout of I.W. International Insulation, Inc., thereby boosting the company’s presence across the regions of Washington, Oregon, and Idaho.
Installed Building’s shares have surged 29.6% for far this year compared with the Zacks Building Products – Miscellaneous industry’s 17.2% rally. Also, the company’s earnings estimates for 2021 have moved up 0.4% over the past 30 days, depicting analysts’ optimism regarding the company’s earnings growth potential.
Zacks Rank & Key Picks
Installed Building carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same industry include Owens Corning (OC - Free Report) , United Rentals, Inc. (URI - Free Report) and TopBuild Corp. (BLD - Free Report) , each sporting a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Owens Corning, TopBuild and United Rentals are expected to witness 25.9%, 33.2% and 7.9% earnings growth in 2021, respectively.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>