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

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

Gibraltar Industries Stock Down 0.6 %

ROCK stock opened at $60.27 on Friday. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 16.74 and a beta of 1.15. The company’s fifty day simple moving average is $68.85 and its 200 day simple moving average is $69.51. Gibraltar Industries has a 12-month low of $59.61 and a 12-month high of $87.40.

Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.01. Gibraltar Industries had a return on equity of 13.13% and a net margin of 8.28%. The company had revenue of $361.20 million for the quarter, compared to the consensus estimate of $360.43 million. During the same period in the previous year, the business earned $1.38 EPS. The firm’s revenue was down 7.6% compared to the same quarter last year. Research analysts expect that Gibraltar Industries will post 4.18 earnings per share for the current year.

Institutional Trading of Gibraltar Industries

Several hedge funds have recently modified their holdings of ROCK. Victory Capital Management Inc. grew its holdings in Gibraltar Industries by 27.8% in the third quarter. Victory Capital Management Inc. now owns 1,481,674 shares of the construction company’s stock worth $103,613,000 after purchasing an additional 322,422 shares during the period. State Street Corp grew its stake in shares of Gibraltar Industries by 4.6% in the 3rd quarter. State Street Corp now owns 1,278,283 shares of the construction company’s stock valued at $89,390,000 after buying an additional 56,008 shares during the period. Pacer Advisors Inc. increased its position in Gibraltar Industries by 14.6% in the 2nd quarter. Pacer Advisors Inc. now owns 1,084,170 shares of the construction company’s stock valued at $74,320,000 after buying an additional 138,194 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Gibraltar Industries by 1.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 844,373 shares of the construction company’s stock worth $57,882,000 after buying an additional 9,764 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Gibraltar Industries by 4.1% in the third quarter. Geode Capital Management LLC now owns 838,932 shares of the construction company’s stock worth $58,676,000 after acquiring an additional 32,950 shares in 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.