Gibraltar Industries (NASDAQ:ROCK) Upgraded 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 issued to investors on Tuesday.

Gibraltar Industries Stock Performance

Gibraltar Industries stock opened at $70.66 on Tuesday. Gibraltar Industries has a fifty-two week low of $61.92 and a fifty-two week high of $87.40. The firm’s fifty day moving average price is $69.72 and its 200-day moving average price is $70.08. The stock has a market cap of $2.14 billion, a P/E ratio of 19.63 and a beta of 1.15.

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 the consensus estimate of $1.26 by $0.01. The firm had revenue of $361.20 million during the quarter, compared to analyst estimates of $360.43 million. Gibraltar Industries had a return on equity of 13.13% and a net margin of 8.28%. The company’s revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.38 earnings per share. On average, analysts predict that Gibraltar Industries will post 4.18 earnings per share for the current year.

Institutional Investors Weigh In On Gibraltar Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC raised its stake in shares of Gibraltar Industries by 271.6% during the third quarter. Farther Finance Advisors LLC now owns 379 shares of the construction company’s stock valued at $27,000 after acquiring an additional 277 shares during the last quarter. Innealta Capital LLC bought a new position in Gibraltar Industries during the 2nd quarter valued at approximately $39,000. GAMMA Investing LLC raised its position in Gibraltar Industries by 30.6% during the 3rd quarter. GAMMA Investing LLC now owns 725 shares of the construction company’s stock valued at $51,000 after purchasing an additional 170 shares during the last quarter. nVerses Capital LLC purchased a new stake in Gibraltar Industries in the 2nd quarter worth approximately $55,000. Finally, Quarry LP grew its position in shares of Gibraltar Industries by 428.9% in the 2nd quarter. Quarry LP now owns 989 shares of the construction company’s stock worth $68,000 after buying an additional 802 shares during 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.