StockNews.com Upgrades Gibraltar Industries (NASDAQ:ROCK) to Buy

StockNews.com upgraded shares of Gibraltar Industries (NASDAQ:ROCK) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning.

Gibraltar Industries Stock Performance

Shares of NASDAQ ROCK opened at $63.09 on Tuesday. The firm has a market capitalization of $1.86 billion, a P/E ratio of 14.11 and a beta of 1.30. Gibraltar Industries has a one year low of $48.96 and a one year high of $81.90. The company’s fifty day moving average is $57.68 and its two-hundred day moving average is $62.29.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.86 by $0.09. The business had revenue of $290.02 million for the quarter, compared to analyst estimates of $296.77 million. Gibraltar Industries had a net margin of 10.49% and a return on equity of 13.19%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.80 EPS. On average, sell-side analysts forecast that Gibraltar Industries will post 4.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director James B. Nish sold 1,172 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $58.21, for a total transaction of $68,222.12. Following the completion of the transaction, the director now directly owns 11,976 shares in the company, valued at approximately $697,122.96. This represents a 8.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Gibraltar Industries

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sei Investments Co. lifted its stake in Gibraltar Industries by 37.8% during the fourth quarter. Sei Investments Co. now owns 27,373 shares of the construction company’s stock worth $1,612,000 after purchasing an additional 7,513 shares during the last quarter. Geode Capital Management LLC lifted its stake in Gibraltar Industries by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 854,821 shares of the construction company’s stock worth $50,359,000 after purchasing an additional 15,889 shares during the last quarter. Barclays PLC lifted its stake in Gibraltar Industries by 93.8% during the third quarter. Barclays PLC now owns 103,324 shares of the construction company’s stock worth $7,226,000 after purchasing an additional 50,017 shares during the last quarter. Rhumbline Advisers lifted its stake in Gibraltar Industries by 4.7% during the fourth quarter. Rhumbline Advisers now owns 95,220 shares of the construction company’s stock worth $5,608,000 after purchasing an additional 4,280 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Gibraltar Industries by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 2,990,179 shares of the construction company’s stock worth $176,122,000 after purchasing an additional 15,201 shares during the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Gibraltar Industries Company Profile

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.