Gibraltar Industries (NASDAQ:ROCK) Lowered to Buy Rating by StockNews.com

StockNews.com lowered shares of Gibraltar Industries (NASDAQ:ROCK) from a strong-buy rating to a buy rating in a research report released on Wednesday morning.

Gibraltar Industries Stock Performance

ROCK opened at $58.85 on Wednesday. Gibraltar Industries has a one year low of $55.31 and a one year high of $87.19. The company has a market cap of $1.79 billion, a P/E ratio of 16.35 and a beta of 1.20. The business’s 50-day simple moving average is $61.28 and its 200-day simple moving average is $66.26.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. FMR LLC increased 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 acquiring an additional 685,462 shares during the last quarter. Geode Capital Management LLC grew 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 last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Gibraltar Industries during the 3rd quarter worth approximately $792,000. Citigroup Inc. grew its stake in Gibraltar Industries by 29.5% during the 3rd quarter. Citigroup Inc. now owns 58,768 shares of the construction company’s stock worth $4,110,000 after buying an additional 13,392 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Gibraltar Industries by 8.2% during the 3rd quarter. Franklin Resources Inc. now owns 5,874 shares of the construction company’s stock worth $401,000 after buying an additional 445 shares during the last quarter. Hedge funds and other institutional investors 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.