Gibraltar Industries (NASDAQ:ROCK) Cut to “Buy” at StockNews.com

StockNews.com lowered shares of Gibraltar Industries (NASDAQ:ROCK) from a strong-buy rating to a buy rating in a research note released on Saturday.

Gibraltar Industries Price Performance

NASDAQ ROCK opened at $60.27 on Friday. The business has a fifty day moving average price of $68.85 and a two-hundred day moving average price of $69.51. The stock has a market capitalization of $1.83 billion, a PE ratio of 16.74 and a beta of 1.15. Gibraltar Industries has a fifty-two week low of $59.61 and a fifty-two week high of $87.40.

Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.01. Gibraltar Industries had a return on equity of 13.13% and a net margin of 8.28%. The business had revenue of $361.20 million during the quarter, compared to the consensus estimate of $360.43 million. During the same period in the prior year, the company earned $1.38 EPS. Gibraltar Industries’s revenue for the quarter was down 7.6% on a year-over-year basis. As a group, sell-side analysts expect that Gibraltar Industries will post 4.18 earnings per share for the current year.

Hedge Funds Weigh In On Gibraltar Industries

A number of institutional investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund Corp grew its stake in shares of Gibraltar Industries by 27.7% during the second quarter. Texas Permanent School Fund Corp now owns 34,006 shares of the construction company’s stock worth $2,331,000 after buying an additional 7,369 shares during the last quarter. Intech Investment Management LLC bought a new stake in Gibraltar Industries during the 2nd quarter worth $770,000. FMR LLC increased its holdings in Gibraltar Industries by 1,663.5% in the 3rd quarter. FMR LLC now owns 726,667 shares of the construction company’s stock worth $50,816,000 after purchasing an additional 685,462 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Gibraltar Industries in the third quarter valued at about $792,000. Finally, Hsbc Holdings PLC boosted its stake in shares of Gibraltar Industries by 47.6% during the second quarter. Hsbc Holdings PLC now owns 18,123 shares of the construction company’s stock valued at $1,242,000 after purchasing an additional 5,842 shares in the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Gibraltar Industries Company Profile

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.