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

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

Gibraltar Industries Price Performance

NASDAQ ROCK opened at $65.33 on Tuesday. Gibraltar Industries has a 1-year low of $59.66 and a 1-year high of $87.40. The firm has a market capitalization of $1.99 billion, a P/E ratio of 17.56 and a beta of 1.14. The business’s 50-day simple moving average is $68.36 and its 200-day simple moving average is $70.58.

Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings results on Wednesday, July 31st. The construction company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.08). Gibraltar Industries had a net margin of 8.49% and a return on equity of 13.91%. The business had revenue of $353.00 million for the quarter, compared to analyst estimates of $373.60 million. During the same period last year, the firm earned $1.18 earnings per share. The company’s quarterly revenue was down 3.3% on a year-over-year basis. On average, equities research analysts expect that Gibraltar Industries will post 4.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Semanteon Capital Management LP acquired a new stake in shares of Gibraltar Industries in the third quarter valued at about $891,000. Assenagon Asset Management S.A. grew its position in Gibraltar Industries by 16.1% in the third quarter. Assenagon Asset Management S.A. now owns 328,258 shares of the construction company’s stock valued at $22,955,000 after acquiring an additional 45,416 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Gibraltar Industries by 1.6% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 13,805 shares of the construction company’s stock valued at $965,000 after acquiring an additional 211 shares in the last quarter. Roof Eidam Maycock Peralta LLC raised its stake in shares of Gibraltar Industries by 2.0% during the third quarter. Roof Eidam Maycock Peralta LLC now owns 26,205 shares of the construction company’s stock valued at $1,833,000 after purchasing an additional 510 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Gibraltar Industries by 14.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 648,054 shares of the construction company’s stock worth $45,318,000 after purchasing 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.