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

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

Gibraltar Industries Stock Up 0.0 %

NASDAQ ROCK opened at $60.61 on Friday. Gibraltar Industries has a 52 week low of $59.61 and a 52 week high of $87.40. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 16.84 and a beta of 1.15. The company has a fifty day moving average of $68.85 and a two-hundred day moving average of $69.53.

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 analysts’ consensus estimates of $1.26 by $0.01. The business had revenue of $361.20 million for 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 business’s revenue was down 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.38 earnings per share. Equities research analysts anticipate that Gibraltar Industries will post 4.18 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Texas Permanent School Fund Corp raised its position in shares of Gibraltar Industries by 27.7% in the 2nd quarter. Texas Permanent School Fund Corp now owns 34,006 shares of the construction company’s stock valued at $2,331,000 after purchasing an additional 7,369 shares during the last quarter. Intech Investment Management LLC purchased a new position in Gibraltar Industries during the 2nd quarter worth approximately $770,000. FMR LLC grew its holdings in Gibraltar Industries by 1,663.5% during the third quarter. FMR LLC now owns 726,667 shares of the construction company’s stock worth $50,816,000 after acquiring an additional 685,462 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Gibraltar Industries during the third quarter valued at approximately $792,000. Finally, Hsbc Holdings PLC increased its holdings in shares of Gibraltar Industries by 47.6% during the 2nd quarter. Hsbc Holdings PLC now owns 18,123 shares of the construction company’s stock valued at $1,242,000 after purchasing an additional 5,842 shares in the last quarter. 98.39% of the stock is owned by institutional investors.

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.