StockNews.com Downgrades Gulf Island Fabrication (NASDAQ:GIFI) to Hold

StockNews.com downgraded shares of Gulf Island Fabrication (NASDAQ:GIFI) from a buy rating to a hold rating in a research note issued to investors on Friday.

Gulf Island Fabrication Price Performance

GIFI stock opened at $6.80 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 4.50 and a current ratio of 4.61. The business has a 50-day simple moving average of $5.70 and a two-hundred day simple moving average of $6.09. The company has a market capitalization of $111.18 million, a P/E ratio of 6.48 and a beta of 0.48. Gulf Island Fabrication has a 52-week low of $4.00 and a 52-week high of $7.93.

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

Institutional Trading of Gulf Island Fabrication

Several institutional investors and hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Gulf Island Fabrication by 9.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,407 shares of the oil and gas company’s stock worth $234,000 after purchasing an additional 3,683 shares during the last quarter. Robotti Robert bought a new position in shares of Gulf Island Fabrication during the 1st quarter worth approximately $74,000. Renaissance Technologies LLC lifted its position in shares of Gulf Island Fabrication by 1.8% during the 2nd quarter. Renaissance Technologies LLC now owns 578,424 shares of the oil and gas company’s stock worth $3,511,000 after buying an additional 10,170 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Gulf Island Fabrication in the 2nd quarter worth approximately $73,000. Finally, Factorial Partners LLC grew its holdings in shares of Gulf Island Fabrication by 10.3% in the third quarter. Factorial Partners LLC now owns 219,673 shares of the oil and gas company’s stock valued at $1,239,000 after acquiring an additional 20,437 shares in the last quarter. Hedge funds and other institutional investors own 46.40% of the company’s stock.

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.