Gibraltar Industries (NASDAQ:ROCK) Lifted to “Strong-Buy” 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 released on Monday morning.

Gibraltar Industries Stock Performance

ROCK stock opened at $67.35 on Monday. Gibraltar Industries has a 1 year low of $59.66 and a 1 year high of $87.40. The stock’s 50 day moving average price is $68.17 and its 200 day moving average price is $71.14. The firm has a market cap of $2.05 billion, a P/E ratio of 18.10 and a beta of 1.14.

Gibraltar Industries (NASDAQ:ROCK) last posted its earnings results on Wednesday, July 31st. The construction company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.08). Gibraltar Industries had a net margin of 8.49% and a return on equity of 13.91%. The company had revenue of $353.00 million during the quarter, compared to analysts’ expectations of $373.60 million. During the same period in the previous year, the company posted $1.18 EPS. Gibraltar Industries’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, research analysts predict that Gibraltar Industries will post 4.6 earnings per share for the current year.

Institutional Investors Weigh In On Gibraltar Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. Swedbank AB acquired a new position in Gibraltar Industries in the 1st quarter valued at $17,016,000. Pacer Advisors Inc. raised its holdings 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 acquiring an additional 138,194 shares during the last quarter. Millennium Management LLC raised its holdings in Gibraltar Industries by 196.4% in the 2nd quarter. Millennium Management LLC now owns 123,438 shares of the construction company’s stock valued at $8,462,000 after acquiring an additional 81,791 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in Gibraltar Industries in the 1st quarter valued at $5,845,000. Finally, Vanguard Group Inc. raised its holdings in Gibraltar Industries by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 2,888,642 shares of the construction company’s stock valued at $232,622,000 after acquiring an additional 68,728 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

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.