Gibraltar Industries (NASDAQ:ROCK) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Gibraltar Industries (NASDAQ:ROCK) from a buy rating to a strong-buy rating in a report issued on Thursday morning.

Gibraltar Industries Price Performance

Shares of NASDAQ:ROCK opened at $65.28 on Thursday. The company’s 50-day moving average price is $60.66 and its two-hundred day moving average price is $65.94. Gibraltar Industries has a one year low of $55.31 and a one year high of $82.79. The stock has a market capitalization of $1.98 billion, a PE ratio of 14.60 and a beta of 1.20.

Gibraltar Industries (NASDAQ:ROCK) last issued its quarterly earnings results on Wednesday, February 19th. The construction company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.95 by $0.06. Gibraltar Industries had a net margin of 10.49% and a return on equity of 13.19%. The firm had revenue of $302.06 million for the quarter, compared to analysts’ expectations of $307.93 million. During the same period in the previous year, the firm posted $0.85 EPS. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. On average, analysts anticipate that Gibraltar Industries will post 4.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gibraltar Industries

A number of institutional investors and hedge funds have recently modified their holdings of ROCK. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Gibraltar Industries by 1.6% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 13,805 shares of the construction company’s stock valued at $965,000 after purchasing an additional 211 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Gibraltar Industries by 16.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 328,258 shares of the construction company’s stock valued at $22,955,000 after purchasing an additional 45,416 shares during the period. Semanteon Capital Management LP bought a new stake in shares of Gibraltar Industries in the 3rd quarter valued at about $891,000. Farther Finance Advisors LLC raised its holdings in shares of Gibraltar Industries by 271.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 379 shares of the construction company’s stock valued at $27,000 after purchasing an additional 277 shares during the period. Finally, Atria Investments Inc raised its holdings in shares of Gibraltar Industries by 14.8% in the 3rd quarter. Atria Investments Inc now owns 4,085 shares of the construction company’s stock valued at $286,000 after purchasing an additional 528 shares during the period. 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.