Gibraltar Industries (NASDAQ:ROCK) Stock Rating Upgraded by StockNews.com

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

Gibraltar Industries Stock Performance

Shares of Gibraltar Industries stock opened at $66.98 on Friday. Gibraltar Industries has a fifty-two week low of $61.92 and a fifty-two week high of $87.40. The company has a market cap of $2.03 billion, a P/E ratio of 18.61 and a beta of 1.15. The firm has a 50-day simple moving average of $69.58 and a two-hundred day simple moving average of $69.90.

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

Hedge Funds Weigh In On Gibraltar Industries

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

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.