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

StockNews.com downgraded shares of Gibraltar Industries (NASDAQ:ROCK) from a strong-buy rating to a buy rating in a report released on Wednesday.

Gibraltar Industries Price Performance

Shares of NASDAQ ROCK opened at $58.29 on Wednesday. The firm’s 50-day moving average is $61.75 and its two-hundred day moving average is $66.46. Gibraltar Industries has a 12-month low of $55.31 and a 12-month high of $87.19. The company has a market capitalization of $1.77 billion, a PE ratio of 16.19 and a beta of 1.20.

Hedge Funds Weigh In On Gibraltar Industries

Institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its stake in shares of Gibraltar Industries by 35.4% during the fourth quarter. Wells Fargo & Company MN now owns 16,645 shares of the construction company’s stock valued at $980,000 after acquiring an additional 4,348 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Gibraltar Industries by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 854,821 shares of the construction company’s stock valued at $50,359,000 after purchasing an additional 15,889 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Gibraltar Industries by 8.8% during the 4th quarter. Franklin Resources Inc. now owns 6,393 shares of the construction company’s stock worth $377,000 after purchasing an additional 519 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Gibraltar Industries by 34.7% during the fourth quarter. Wellington Management Group LLP now owns 1,541,070 shares of the construction company’s stock worth $90,769,000 after buying an additional 397,313 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Gibraltar Industries by 124.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 129,043 shares of the construction company’s stock worth $7,601,000 after buying an additional 71,532 shares in the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

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.