Zacks Investment Research Downgrades Gibraltar Industries Inc. (ROCK) to Hold
Gibraltar Industries Inc. (NASDAQ:ROCK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “Gibraltar Industries has been steadily boosting its business on the back of its productive value-creating growth strategy. Moreover, the strategic acquisition of Nexus is expected to fortify the formerly acquired RBI business. This will widen the company’s commercial greenhouse market share in the near term. Also, restructuring programs and capital-deployment plans have been driving near-term growth. However, certain headwinds, such as a stronger U.S. dollar, extensive industry rivalry or unfavorable government construction spending pattern, might limit the benefits generated from the above mentioned aspects. Over the last 60 days, the Zacks Consensus Estimate for the stock has not changed for 2016, however has been marginally revised upward for 2017. “
Separately, Wedbush restated an “outperform” rating and issued a $38.00 price target on shares of Gibraltar Industries in a research note on Thursday, July 28th.
Shares of Gibraltar Industries (NASDAQ:ROCK) opened at 38.33 on Thursday. Gibraltar Industries has a 1-year low of $18.23 and a 1-year high of $40.00. The firm’s 50-day moving average price is $37.49 and its 200 day moving average price is $32.84. The stock has a market cap of $1.21 billion, a P/E ratio of 32.73 and a beta of 2.25.
Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.07. The business had revenue of $263.10 million for the quarter, compared to analysts’ expectations of $271.27 million. Gibraltar Industries had a return on equity of 11.17% and a net margin of 3.44%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $0.25 earnings per share. On average, equities analysts expect that Gibraltar Industries will post $1.45 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Fund Advisors boosted its stake in Gibraltar Industries by 0.6% in the first quarter. BlackRock Fund Advisors now owns 1,936,617 shares of the company’s stock worth $55,387,000 after buying an additional 10,763 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Gibraltar Industries by 2.8% in the first quarter. Prudential Financial Inc. now owns 72,785 shares of the company’s stock valued at $2,082,000 after buying an additional 2,000 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Gibraltar Industries by 9.3% in the first quarter. Renaissance Technologies LLC now owns 1,039,153 shares of the company’s stock valued at $29,720,000 after buying an additional 88,300 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Gibraltar Industries by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 410,270 shares of the company’s stock valued at $12,952,000 after buying an additional 19,657 shares during the last quarter. Finally, PineBridge Investments L.P. raised its position in shares of Gibraltar Industries by 3.9% in the second quarter. PineBridge Investments L.P. now owns 3,772 shares of the company’s stock valued at $119,000 after buying an additional 140 shares during the last quarter. Institutional investors own 98.24% of the company’s stock.
Gibraltar Industries Company Profile
Gibraltar Industries, Inc is a manufacturer and distributor of building products for industrial, transportation infrastructure, residential housing, renewable energy and resource conservation markets. The Company operates through three segments: Residential Products, Industrial and Infrastructure Products and Renewable Energy and Conservation.
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