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

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

Gibraltar Industries Stock Down 1.5 %

ROCK traded down $1.12 on Tuesday, reaching $71.69. 130,629 shares of the company traded hands, compared to its average volume of 175,589. The company has a market cap of $2.18 billion, a P/E ratio of 19.91 and a beta of 1.15. The firm has a fifty day simple moving average of $69.61 and a two-hundred day simple moving average of $70.08. Gibraltar Industries has a one year low of $61.92 and a one year high of $87.40.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ROCK. Farther Finance Advisors LLC lifted its holdings in shares of Gibraltar Industries by 271.6% during 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 last quarter. Innealta Capital LLC purchased a new stake in shares of Gibraltar Industries during the second quarter valued at $39,000. GAMMA Investing LLC increased its position in shares of Gibraltar Industries by 30.6% in the 3rd quarter. GAMMA Investing LLC now owns 725 shares of the construction company’s stock valued at $51,000 after acquiring an additional 170 shares during the period. nVerses Capital LLC purchased a new position in Gibraltar Industries in the 2nd quarter worth $55,000. Finally, Quarry LP raised its stake in Gibraltar Industries by 428.9% in the 2nd quarter. Quarry LP now owns 989 shares of the construction company’s stock worth $68,000 after acquiring an additional 802 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

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.