Gulf Island Fabrication (NASDAQ:GIFI) Upgraded at StockNews.com

StockNews.com upgraded shares of Gulf Island Fabrication (NASDAQ:GIFI) from a hold rating to a buy rating in a research note published on Thursday.

Gulf Island Fabrication Stock Down 5.8 %

GIFI stock opened at $6.54 on Thursday. The business’s 50 day moving average price is $5.57 and its two-hundred day moving average price is $6.09. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.80 and a current ratio of 4.61. The company has a market capitalization of $108.04 million, a price-to-earnings ratio of 6.23 and a beta of 0.48. Gulf Island Fabrication has a fifty-two week low of $3.81 and a fifty-two week high of $7.93.

Gulf Island Fabrication (NASDAQ:GIFI) last announced its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $37.64 million for the quarter. Gulf Island Fabrication had a net margin of 10.54% and a return on equity of 20.64%.

Hedge Funds Weigh In On Gulf Island Fabrication

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Factorial Partners LLC raised its stake in shares of Gulf Island Fabrication by 410.9% in the second quarter. Factorial Partners LLC now owns 199,236 shares of the oil and gas company’s stock worth $1,209,000 after buying an additional 160,236 shares during the period. Acadian Asset Management LLC increased its holdings in Gulf Island Fabrication by 480.8% in the 2nd quarter. Acadian Asset Management LLC now owns 114,177 shares of the oil and gas company’s stock worth $691,000 after acquiring an additional 94,519 shares in the last quarter. Glenorchy Capital Ltd raised its stake in Gulf Island Fabrication by 24.5% during the 3rd quarter. Glenorchy Capital Ltd now owns 298,005 shares of the oil and gas company’s stock worth $1,681,000 after acquiring an additional 58,622 shares during the period. Heron Bay Capital Management purchased a new position in Gulf Island Fabrication during the second quarter valued at approximately $234,000. Finally, Marshall Wace LLP bought a new position in shares of Gulf Island Fabrication in the second quarter worth approximately $191,000. 46.40% of the stock is currently owned by hedge funds and other institutional investors.

Gulf Island Fabrication Company Profile

Gulf Island Fabrication, Inc, together with its subsidiaries, operates as a fabricator of steel structures and modules in the United States. It operates through Services, Fabrication, and Shipyard divisions. The company provides maintenance, repair, construction, scaffolding, coatings, welding enclosures, and other specialty services on offshore platforms, inland structures, and industrial facilities; services required to connect production equipment and service modules, and equipment on offshore platforms; project management and commissioning services; hookup services; and civil construction and staffing services to the industrial and energy sectors, as well as undertakes municipal and drainage projects, including pump stations, levee reinforcement, bulkheads, and other public works.