Gibraltar Industries (NASDAQ:ROCK) Rating Lowered to “Buy” at StockNews.com

StockNews.com lowered shares of Gibraltar Industries (NASDAQ:ROCK) from a strong-buy rating to a buy rating in a report published on Saturday.

Gibraltar Industries Stock Up 0.0 %

ROCK opened at $60.61 on Friday. The company has a market capitalization of $1.84 billion, a PE ratio of 16.84 and a beta of 1.15. The firm has a 50-day simple moving average of $68.85 and a two-hundred day simple moving average of $69.55. Gibraltar Industries has a 52 week low of $59.61 and a 52 week high of $87.40.

Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.01. The company had revenue of $361.20 million during 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 firm’s revenue was down 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.38 earnings per share. As a group, sell-side analysts expect that Gibraltar Industries will post 4.18 earnings per share for the current year.

Institutional Investors Weigh In On Gibraltar Industries

Several large investors have recently bought and sold shares of the business. Franklin Resources Inc. lifted its position in Gibraltar Industries by 8.2% during the third quarter. Franklin Resources Inc. now owns 5,874 shares of the construction company’s stock valued at $401,000 after purchasing an additional 445 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Gibraltar Industries by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 838,932 shares of the construction company’s stock valued at $58,676,000 after buying an additional 32,950 shares in the last quarter. Barclays PLC lifted its holdings in shares of Gibraltar Industries by 93.8% in the 3rd quarter. Barclays PLC now owns 103,324 shares of the construction company’s stock valued at $7,226,000 after acquiring an additional 50,017 shares during the last quarter. Y Intercept Hong Kong Ltd grew its position in Gibraltar Industries by 5.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 10,002 shares of the construction company’s stock worth $699,000 after acquiring an additional 484 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Gibraltar Industries during the third quarter worth approximately $534,000. 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.