Gibraltar Industries (NASDAQ:ROCK) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of Gibraltar Industries (NASDAQ:ROCK) from a buy rating to a strong-buy rating in a research note published on Monday morning.

Gibraltar Industries Stock Up 0.9 %

Shares of ROCK opened at $72.92 on Monday. The stock’s fifty day simple moving average is $76.25 and its 200-day simple moving average is $74.79. The firm has a market capitalization of $2.22 billion, a PE ratio of 20.31 and a beta of 1.17. Gibraltar Industries has a 12-month low of $48.76 and a 12-month high of $87.40.

Gibraltar Industries (NASDAQ:ROCK) last issued its earnings results on Wednesday, February 21st. The construction company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). Gibraltar Industries had a net margin of 8.02% and a return on equity of 14.50%. The business had revenue of $328.80 million during the quarter, compared to the consensus estimate of $331.40 million. During the same period last year, the business posted $0.72 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts anticipate that Gibraltar Industries will post 4.73 EPS for the current year.

Institutional Investors Weigh In On Gibraltar Industries

A number of institutional investors have recently made changes to their positions in the stock. AE Wealth Management LLC bought a new position in Gibraltar Industries during the third quarter worth about $218,000. Bailard Inc. grew its holdings in Gibraltar Industries by 26.3% during the third quarter. Bailard Inc. now owns 9,600 shares of the construction company’s stock valued at $648,000 after purchasing an additional 2,000 shares during the period. New York State Teachers Retirement System increased its stake in Gibraltar Industries by 2.0% in the third quarter. New York State Teachers Retirement System now owns 59,851 shares of the construction company’s stock valued at $4,041,000 after purchasing an additional 1,179 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Gibraltar Industries by 15.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,618 shares of the construction company’s stock worth $514,000 after purchasing an additional 1,046 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Gibraltar Industries by 9.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 305,038 shares of the construction company’s stock worth $20,593,000 after purchasing an additional 25,358 shares in the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

About Gibraltar Industries

Gibraltar Industries, Inc manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. It operates through four segments: Renewables, Residential, Agtech, and Infrastructure. The Renewables segment designs, engineers, manufactures, and installs solar racking and electrical balance of systems for commercial and distributed generation scale solar installations.