Gibraltar Industries (NASDAQ:ROCK) Upgraded to Strong-Buy at StockNews.com

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

Gibraltar Industries Price Performance

Shares of NASDAQ:ROCK opened at $58.42 on Tuesday. The business’s 50 day simple moving average is $67.56 and its 200-day simple moving average is $68.83. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 16.23 and a beta of 1.15. Gibraltar Industries has a 12 month low of $58.11 and a 12 month high of $87.40.

Gibraltar Industries (NASDAQ:ROCK) last announced its earnings results on Wednesday, October 30th. The construction company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.01. The firm had revenue of $361.20 million for the quarter, compared to analyst estimates of $360.43 million. Gibraltar Industries had a net margin of 8.28% and a return on equity of 13.13%. Gibraltar Industries’s revenue was down 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.38 earnings per share. On average, equities analysts anticipate that Gibraltar Industries will post 4.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ROCK. Farther Finance Advisors LLC grew its position in shares of Gibraltar Industries by 271.6% during the third quarter. Farther Finance Advisors LLC now owns 379 shares of the construction company’s stock worth $27,000 after buying an additional 277 shares in the last quarter. GAMMA Investing LLC grew its stake in Gibraltar Industries by 30.6% during the 3rd quarter. GAMMA Investing LLC now owns 725 shares of the construction company’s stock worth $51,000 after buying an additional 170 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Gibraltar Industries in the 2nd quarter worth about $55,000. Quarry LP increased its stake in shares of Gibraltar Industries by 428.9% in the second quarter. Quarry LP now owns 989 shares of the construction company’s stock valued at $68,000 after purchasing an additional 802 shares during the period. Finally, Point72 DIFC Ltd boosted its position in shares of Gibraltar Industries by 92.1% during the second quarter. Point72 DIFC Ltd now owns 1,329 shares of the construction company’s stock worth $91,000 after buying an additional 637 shares during the period. 98.39% of the stock is owned by institutional investors and hedge funds.

About Gibraltar Industries

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.