Gibraltar Industries (NASDAQ:ROCK) Upgraded 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 published on Friday.

Gibraltar Industries Stock Down 1.9 %

NASDAQ ROCK opened at $66.98 on Friday. The firm has a market cap of $2.03 billion, a P/E ratio of 18.61 and a beta of 1.15. Gibraltar Industries has a 52-week low of $61.92 and a 52-week high of $87.40. The business’s 50-day moving average price is $69.58 and its 200 day moving average price is $69.88.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.26 by $0.01. The business had revenue of $361.20 million during the quarter, compared to analysts’ expectations of $360.43 million. Gibraltar Industries had a return on equity of 13.13% and a net margin of 8.28%. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.38 earnings per share. As a group, analysts anticipate that Gibraltar Industries will post 4.18 earnings per share for the current year.

Institutional Trading of Gibraltar Industries

A number of institutional investors have recently modified their holdings of ROCK. Farther Finance Advisors LLC lifted its holdings in Gibraltar Industries by 271.6% in the third quarter. Farther Finance Advisors LLC now owns 379 shares of the construction company’s stock valued at $27,000 after acquiring an additional 277 shares during the period. Innealta Capital LLC purchased a new position in shares of Gibraltar Industries in the 2nd quarter valued at about $39,000. GAMMA Investing LLC lifted its stake in shares of Gibraltar Industries by 30.6% in the third 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 period. nVerses Capital LLC purchased a new stake in Gibraltar Industries during the second quarter worth about $55,000. Finally, Quarry LP grew its position in Gibraltar Industries by 428.9% during the second quarter. Quarry LP now owns 989 shares of the construction company’s stock worth $68,000 after buying an additional 802 shares during the period. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

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.