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

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a report issued on Friday.

Gibraltar Industries Trading Down 1.9 %

ROCK traded down $1.30 on Friday, reaching $66.98. The stock had a trading volume of 180,045 shares, compared to its average volume of 174,175. The firm has a 50-day moving average of $69.58 and a 200-day moving average of $69.92. Gibraltar Industries has a fifty-two week low of $61.92 and a fifty-two week high of $87.40. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 18.61 and a beta of 1.15.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $360.43 million. During the same quarter last year, the business earned $1.38 EPS. The firm's quarterly revenue was down 7.6% on a year-over-year basis. Sell-side analysts anticipate that Gibraltar Industries will post 4.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ROCK. FMR LLC lifted its stake 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 purchasing an additional 685,462 shares during the period. Victory Capital Management Inc. increased its position in Gibraltar Industries by 27.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,481,674 shares of the construction company's stock valued at $103,613,000 after buying an additional 322,422 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Gibraltar Industries by 14.6% during the second quarter. Pacer Advisors Inc. now owns 1,084,170 shares of the construction company's stock worth $74,320,000 after purchasing an additional 138,194 shares during the period. Millennium Management LLC raised its holdings in Gibraltar Industries by 196.4% during the second quarter. Millennium Management LLC now owns 123,438 shares of the construction company's stock worth $8,462,000 after buying an additional 81,791 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Gibraltar Industries by 14.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 648,054 shares of the construction company's stock valued at $45,318,000 after acquiring an additional 81,401 shares in the last quarter. Institutional investors and hedge funds own 98.39% of the company's stock.

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.