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

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

Gibraltar Industries Stock Performance

Shares of ROCK stock opened at $58.90 on Tuesday. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 16.36 and a beta of 1.15. The stock’s 50-day simple moving average is $67.70 and its 200-day simple moving average is $68.91. Gibraltar Industries has a fifty-two week low of $58.28 and a fifty-two week high of $87.40.

Gibraltar Industries (NASDAQ:ROCK) last released its earnings results 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. The company had revenue of $361.20 million for the quarter, compared to the consensus estimate of $360.43 million. Gibraltar Industries had a net margin of 8.28% and a return on equity of 13.13%. Gibraltar Industries’s revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.38 EPS. As a group, equities analysts forecast that Gibraltar Industries will post 4.18 earnings per share for the current year.

Institutional Trading of Gibraltar Industries

Large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in shares of Gibraltar Industries by 27.8% during the third quarter. Victory Capital Management Inc. now owns 1,481,674 shares of the construction company’s stock worth $103,613,000 after purchasing an additional 322,422 shares during the period. State Street Corp lifted its stake in Gibraltar Industries by 4.6% during the 3rd quarter. State Street Corp now owns 1,278,283 shares of the construction company’s stock valued at $89,390,000 after acquiring an additional 56,008 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Gibraltar Industries by 14.6% in the 2nd quarter. Pacer Advisors Inc. now owns 1,084,170 shares of the construction company’s stock valued at $74,320,000 after acquiring an additional 138,194 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Gibraltar Industries by 1.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 844,373 shares of the construction company’s stock worth $57,882,000 after acquiring an additional 9,764 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Gibraltar Industries by 4.1% during the third quarter. Geode Capital Management LLC now owns 838,932 shares of the construction company’s stock worth $58,676,000 after purchasing an additional 32,950 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

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.