Gibraltar Industries (NASDAQ:ROCK) Rating Increased to Strong-Buy at StockNews.com

by · The Markets Daily

Gibraltar Industries (NASDAQ:ROCK – Get Free Report) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday.

Gibraltar Industries Stock Performance

NASDAQ ROCK traded up $1.14 during mid-day trading on Monday, reaching $68.27. 171,255 shares of the stock were exchanged, compared to its average volume of 176,751. Gibraltar Industries has a 1-year low of $59.66 and a 1-year high of $87.40. The business’s fifty day simple moving average is $68.08 and its 200 day simple moving average is $71.26. The stock has a market capitalization of $2.08 billion, a PE ratio of 18.35 and a beta of 1.14.

Gibraltar Industries (NASDAQ:ROCK – Get Free Report) last announced 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 return on equity of 13.91% and a net margin of 8.49%. The firm had revenue of $353.00 million for the quarter, compared to analyst estimates of $373.60 million. During the same quarter last year, the business posted $1.18 EPS. The firm’s revenue was down 3.3% compared to the same quarter last year. On average, analysts anticipate that Gibraltar Industries will post 4.6 EPS for the current year.

Hedge Funds Weigh In On Gibraltar Industries

Hedge funds have recently made changes to their positions in the stock. Innealta Capital LLC acquired a new position in shares of Gibraltar Industries in the 2nd quarter valued at $39,000. GAMMA Investing LLC boosted its holdings in shares of Gibraltar Industries by 30.6% in the 3rd quarter. GAMMA Investing LLC now owns 725 shares of the construction company’s stock valued at $51,000 after purchasing an additional 170 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Gibraltar Industries in the 2nd quarter valued at $55,000. Quarry LP boosted its holdings in shares of Gibraltar Industries by 428.9% in the 2nd quarter. Quarry LP now owns 989 shares of the construction company’s stock valued at $68,000 after purchasing an additional 802 shares during the last quarter. Finally, Point72 DIFC Ltd boosted its holdings in shares of Gibraltar Industries by 92.1% in the 2nd quarter. Point72 DIFC Ltd now owns 1,329 shares of the construction company’s stock valued at $91,000 after purchasing an additional 637 shares during the last quarter. Institutional investors and hedge funds own 98.39% of the company’s stock.

About Gibraltar Industries

(Get Free Report)

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.

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