Gibraltar Industries (NASDAQ:ROCK) Downgraded by StockNews.com to “Buy”

StockNews.com lowered shares of Gibraltar Industries (NASDAQ:ROCKFree Report) from a strong-buy rating to a buy rating in a report issued on Friday.

Gibraltar Industries Stock Down 0.0 %

Shares of ROCK opened at $80.53 on Friday. Gibraltar Industries has a 12-month low of $45.73 and a 12-month high of $87.40. The firm has a market capitalization of $2.45 billion, a PE ratio of 22.43 and a beta of 1.17. The stock’s fifty day simple moving average is $79.94 and its 200-day simple moving average is $73.63.

Gibraltar Industries (NASDAQ:ROCKGet Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The construction company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). Gibraltar Industries had a net margin of 8.02% and a return on equity of 14.50%. The firm had revenue of $328.80 million for the quarter, compared to analyst estimates of $331.40 million. During the same period last year, the company earned $0.72 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. Analysts anticipate that Gibraltar Industries will post 4.73 EPS for the current year.

Hedge Funds Weigh In On Gibraltar Industries

Several hedge funds have recently added to or reduced their stakes in the stock. HighPoint Advisor Group LLC acquired a new position in Gibraltar Industries in the fourth quarter valued at about $219,000. Vanguard Group Inc. lifted its stake in Gibraltar Industries by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 2,819,914 shares of the construction company’s stock valued at $222,717,000 after buying an additional 60,950 shares during the period. Goldman Sachs Group Inc. lifted its stake in Gibraltar Industries by 13.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 132,031 shares of the construction company’s stock valued at $10,428,000 after buying an additional 15,675 shares during the period. Barclays PLC lifted its stake in Gibraltar Industries by 121.2% in the fourth quarter. Barclays PLC now owns 59,944 shares of the construction company’s stock valued at $4,734,000 after buying an additional 32,845 shares during the period. Finally, Voya Investment Management LLC lifted its stake in Gibraltar Industries by 29.7% in the fourth quarter. Voya Investment Management LLC now owns 16,062 shares of the construction company’s stock valued at $1,269,000 after buying an additional 3,681 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.

About Gibraltar Industries

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Gibraltar Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gibraltar Industries and related companies with MarketBeat.com's FREE daily email newsletter.