Gibraltar Industries (NASDAQ:ROCK) Upgraded at StockNews.com

Gibraltar Industries (NASDAQ:ROCK) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday.

Gibraltar Industries Stock Performance

Shares of NASDAQ ROCK opened at $71.46 on Monday. The company’s fifty day moving average price is $76.25 and its 200 day moving average price is $74.79. Gibraltar Industries has a 1 year low of $48.76 and a 1 year high of $87.40. The company has a market capitalization of $2.18 billion, a PE ratio of 19.91 and a beta of 1.17.

Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings results on Wednesday, February 21st. The construction company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). Gibraltar Industries had a return on equity of 14.50% and a net margin of 8.02%. The firm had revenue of $328.80 million for the quarter, compared to analysts’ expectations of $331.40 million. During the same period last year, the company posted $0.72 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts expect that Gibraltar Industries will post 4.73 EPS for the current year.

Hedge Funds Weigh In On Gibraltar Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Perigon Wealth Management LLC purchased a new position in Gibraltar Industries during the first quarter valued at $369,000. Principal Financial Group Inc. lifted its holdings in Gibraltar Industries by 1.5% during the first quarter. Principal Financial Group Inc. now owns 168,582 shares of the construction company’s stock valued at $13,576,000 after purchasing an additional 2,526 shares in the last quarter. Cascade Investment Advisors Inc. lifted its holdings in Gibraltar Industries by 50.4% during the first quarter. Cascade Investment Advisors Inc. now owns 16,970 shares of the construction company’s stock valued at $1,367,000 after purchasing an additional 5,690 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Gibraltar Industries by 92.5% during the first quarter. Assenagon Asset Management S.A. now owns 314,911 shares of the construction company’s stock valued at $25,360,000 after purchasing an additional 151,298 shares in the last quarter. Finally, Bfsg LLC purchased a new position in Gibraltar Industries during the first quarter valued at $132,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

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.