Gibraltar Industries (NASDAQ:ROCK) Lowered to Buy at StockNews.com

StockNews.com downgraded shares of Gibraltar Industries (NASDAQ:ROCK) from a strong-buy rating to a buy rating in a research report report published on Tuesday morning.

Gibraltar Industries Stock Down 0.2 %

NASDAQ ROCK opened at $66.00 on Tuesday. Gibraltar Industries has a fifty-two week low of $59.66 and a fifty-two week high of $87.40. The business has a 50 day moving average price of $68.35 and a two-hundred day moving average price of $70.84. The stock has a market cap of $2.01 billion, a PE ratio of 17.74 and a beta of 1.14.

Gibraltar Industries (NASDAQ:ROCK) last announced its earnings results on Wednesday, July 31st. The construction company reported $1.18 earnings per share for the quarter, missing the consensus estimate 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%. Gibraltar Industries’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.18 earnings per share. Sell-side analysts anticipate that Gibraltar Industries will post 4.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Gibraltar Industries

A number of hedge funds have recently bought and sold shares of the business. Arizona State Retirement System boosted its stake in shares of Gibraltar Industries by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 8,523 shares of the construction company’s stock valued at $584,000 after buying an additional 158 shares during the last quarter. GAMMA Investing LLC raised its holdings in Gibraltar Industries by 30.6% in the third quarter. GAMMA Investing LLC now owns 725 shares of the construction company’s stock valued at $51,000 after acquiring an additional 170 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Gibraltar Industries by 1.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 15,300 shares of the construction company’s stock valued at $1,049,000 after acquiring an additional 200 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in Gibraltar Industries by 1.6% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 13,805 shares of the construction company’s stock worth $965,000 after acquiring an additional 211 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its position in shares of Gibraltar Industries by 10.6% in the 2nd quarter. Evergreen Capital Management LLC now owns 3,559 shares of the construction company’s stock worth $244,000 after purchasing an additional 340 shares during the last quarter. Institutional investors and hedge funds 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.