Gibraltar Industries (NASDAQ:ROCK) Upgraded to Strong-Buy at StockNews.com

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 Down 0.3 %

Gibraltar Industries stock opened at $67.18 on Monday. Gibraltar Industries has a 12 month low of $59.66 and a 12 month high of $87.40. The stock has a market cap of $2.05 billion, a P/E ratio of 17.82 and a beta of 1.14. The company’s fifty day simple moving average is $68.21 and its 200-day simple moving average is $71.11.

Gibraltar Industries (NASDAQ:ROCK) last issued its earnings results on Wednesday, July 31st. The construction company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.08). The firm had revenue of $353.00 million during the quarter, compared to analysts’ expectations of $373.60 million. Gibraltar Industries had a net margin of 8.49% and a return on equity of 13.91%. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.18 EPS. On average, equities research analysts expect that Gibraltar Industries will post 4.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Innealta Capital LLC acquired a new position in Gibraltar Industries during the second quarter worth $39,000. GAMMA Investing LLC boosted its stake in shares of Gibraltar Industries by 30.6% during the 3rd quarter. GAMMA Investing LLC now owns 725 shares of the construction company’s stock worth $51,000 after acquiring an additional 170 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Gibraltar Industries during the 2nd quarter valued at about $55,000. Quarry LP increased its holdings in shares of Gibraltar Industries by 428.9% during the 2nd quarter. Quarry LP now owns 989 shares of the construction company’s stock valued at $68,000 after acquiring an additional 802 shares during the last quarter. Finally, Point72 DIFC Ltd raised its stake in shares of Gibraltar Industries by 92.1% in the 2nd quarter. Point72 DIFC Ltd now owns 1,329 shares of the construction company’s stock valued at $91,000 after acquiring an additional 637 shares in the last quarter. Institutional investors own 98.39% of the company’s stock.

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.