Gibraltar Industries (NASDAQ:ROCK) Upgraded by StockNews.com to Strong-Buy Rating

Gibraltar Industries (NASDAQ:ROCK) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.

Gibraltar Industries Stock Down 1.5 %

Shares of ROCK traded down $1.12 during mid-day trading on Tuesday, reaching $71.69. The company had a trading volume of 130,629 shares, compared to its average volume of 175,589. The stock has a 50 day moving average of $69.61 and a two-hundred day moving average of $70.08. The stock has a market capitalization of $2.18 billion, a P/E ratio of 19.91 and a beta of 1.15. Gibraltar Industries has a 52-week low of $61.92 and a 52-week high of $87.40.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.26 by $0.01. The company had revenue of $361.20 million for the quarter, compared to analyst estimates of $360.43 million. Gibraltar Industries had a net margin of 8.28% and a return on equity of 13.13%. The firm’s revenue was down 7.6% on a year-over-year basis. During the same quarter last year, the business earned $1.38 earnings per share. On average, 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

A number of institutional investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund Corp boosted its stake in shares of Gibraltar Industries by 27.7% in the second quarter. Texas Permanent School Fund Corp now owns 34,006 shares of the construction company’s stock worth $2,331,000 after acquiring an additional 7,369 shares during the last quarter. Intech Investment Management LLC purchased a new position in Gibraltar Industries in the 2nd quarter worth approximately $770,000. Swedbank AB boosted its stake in Gibraltar Industries by 34.1% during the second quarter. Swedbank AB now owns 283,251 shares of the construction company’s stock worth $19,417,000 after buying an additional 71,951 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Gibraltar Industries by 47.6% in the 2nd quarter. Hsbc Holdings PLC now owns 18,123 shares of the construction company’s stock worth $1,242,000 after acquiring an additional 5,842 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Gibraltar Industries in the 3rd quarter worth $792,000. Institutional investors and hedge funds 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.