Gibraltar Industries (NASDAQ:ROCK) Rating Increased to Strong-Buy at StockNews.com

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

Gibraltar Industries Stock Up 0.4 %

ROCK stock traded up $0.23 during midday trading on Tuesday, reaching $58.90. The stock had a trading volume of 146,541 shares, compared to its average volume of 181,303. Gibraltar Industries has a twelve month low of $58.28 and a twelve month high of $87.40. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 16.36 and a beta of 1.15. The business has a fifty day simple moving average of $67.96 and a two-hundred day simple moving average of $69.06.

Gibraltar Industries (NASDAQ:ROCK) last posted its quarterly earnings results on Wednesday, October 30th. The construction company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.01. Gibraltar Industries had a net margin of 8.28% and a return on equity of 13.13%. The business had revenue of $361.20 million during the quarter, compared to the consensus estimate of $360.43 million. During the same period in the previous year, the firm posted $1.38 earnings per share. Gibraltar Industries’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, equities analysts predict that Gibraltar Industries will post 4.18 earnings per share for the current fiscal year.

Institutional Trading of Gibraltar Industries

A number of institutional investors and hedge funds have recently modified their holdings of ROCK. Texas Permanent School Fund Corp grew its holdings in Gibraltar Industries by 27.7% during the second quarter. Texas Permanent School Fund Corp now owns 34,006 shares of the construction company’s stock valued at $2,331,000 after purchasing an additional 7,369 shares during the period. Intech Investment Management LLC bought a new position in shares of Gibraltar Industries during the second quarter worth $770,000. FMR LLC grew its holdings in shares of Gibraltar Industries by 1,663.5% in the 3rd quarter. FMR LLC now owns 726,667 shares of the construction company’s stock valued at $50,816,000 after buying an additional 685,462 shares during the period. Geode Capital Management LLC raised its stake in Gibraltar Industries by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 838,932 shares of the construction company’s stock worth $58,676,000 after buying an additional 32,950 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in Gibraltar Industries during the third quarter worth about $792,000. 98.39% of the stock is owned by institutional investors.

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.