Gibraltar Industries (NASDAQ:ROCK) Downgraded to Buy Rating by StockNews.com

Gibraltar Industries (NASDAQ:ROCK) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Gibraltar Industries Trading Up 0.0 %

NASDAQ:ROCK opened at $60.61 on Friday. Gibraltar Industries has a 12-month low of $59.61 and a 12-month high of $87.40. The firm has a market cap of $1.84 billion, a PE ratio of 16.84 and a beta of 1.15. The stock has a fifty day moving average price of $68.99 and a 200 day moving average price of $69.64.

Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $360.43 million. During the same quarter last year, the business posted $1.38 EPS. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. Equities analysts forecast that Gibraltar Industries will post 4.18 EPS for the current year.

Institutional Investors Weigh In On Gibraltar Industries

A number of hedge funds and other institutional investors have recently modified their holdings of ROCK. Franklin Resources Inc. increased its holdings in Gibraltar Industries by 8.2% in the third quarter. Franklin Resources Inc. now owns 5,874 shares of the construction company’s stock valued at $401,000 after buying an additional 445 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Gibraltar Industries by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 838,932 shares of the construction company’s stock worth $58,676,000 after acquiring an additional 32,950 shares in the last quarter. Barclays PLC increased its holdings in shares of Gibraltar Industries by 93.8% in the 3rd quarter. Barclays PLC now owns 103,324 shares of the construction company’s stock valued at $7,226,000 after acquiring an additional 50,017 shares during the last quarter. Y Intercept Hong Kong Ltd raised its position in shares of Gibraltar Industries by 5.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 10,002 shares of the construction company’s stock worth $699,000 after acquiring an additional 484 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Gibraltar Industries during the third quarter worth approximately $534,000. 98.39% of the stock is currently 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.