Gibraltar Industries (NASDAQ:ROCK) Upgraded 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 issued to investors on Thursday morning.

Gibraltar Industries Stock Performance

Shares of Gibraltar Industries stock opened at $65.28 on Thursday. Gibraltar Industries has a 52 week low of $55.31 and a 52 week high of $82.79. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 14.60 and a beta of 1.20. The firm has a fifty day moving average of $60.66 and a two-hundred day moving average of $65.94.

Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings results on Wednesday, February 19th. The construction company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.06. Gibraltar Industries had a net margin of 10.49% and a return on equity of 13.19%. The company had revenue of $302.06 million during the quarter, compared to analyst estimates of $307.93 million. During the same quarter in the previous year, the business earned $0.85 EPS. The firm’s revenue was down 8.1% on a year-over-year basis. As a group, research analysts forecast that Gibraltar Industries will post 4.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Gibraltar Industries

Several institutional investors and hedge funds have recently made changes to their positions in ROCK. Farther Finance Advisors LLC boosted its stake in Gibraltar Industries by 271.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 379 shares of the construction company’s stock worth $27,000 after purchasing an additional 277 shares during the period. Sterling Capital Management LLC boosted its stake in Gibraltar Industries by 645.1% in the 4th quarter. Sterling Capital Management LLC now owns 529 shares of the construction company’s stock worth $31,000 after purchasing an additional 458 shares during the period. Smartleaf Asset Management LLC boosted its stake in Gibraltar Industries by 296.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 709 shares of the construction company’s stock worth $42,000 after purchasing an additional 530 shares during the period. Atticus Wealth Management LLC acquired a new position in Gibraltar Industries in the 4th quarter worth $53,000. Finally, KBC Group NV boosted its stake in Gibraltar Industries by 50.2% in the 4th quarter. KBC Group NV now owns 1,436 shares of the construction company’s stock worth $85,000 after purchasing an additional 480 shares during the period. Institutional investors and hedge funds 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.