Gibraltar Industries, Inc. (ROCK) Stock Rating Upgraded by Zacks Investment Research
Gibraltar Industries, Inc. (NASDAQ:ROCK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $37.00 price target on the construction company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 16.17% from the stock’s current price.
According to Zacks, “Over the past month, Gibraltar Industries’ shares have outperformed the industry. The company’s third-quarter 2017 adjusted earnings of 67 cents per share surpassed the Zacks Consensus Estimate of 54 cents and also came in higher than the year-ago tally of 55 cents. The upside stemmed from the successful implementation of the company’s five-year four-pillar value-creation strategy. The company believes stronger Residential and Renewable Energy and Conservation sales will bolster its revenues and profitability, going forward. Moreover, acquisitions, strategic portfolio management moves and new innovation investments are anticipated to generate benefits in the quarters ahead.”
ROCK has been the topic of a number of other research reports. BidaskClub lowered Gibraltar Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. TheStreet raised Gibraltar Industries from a “c” rating to a “b-” rating in a research report on Friday, November 3rd. Finally, KeyCorp restated a “buy” rating and issued a $39.00 price target on shares of Gibraltar Industries in a research note on Sunday, October 15th. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $42.00.
Gibraltar Industries (ROCK) traded down $0.35 during trading hours on Tuesday, reaching $31.85. The company’s stock had a trading volume of 27,995 shares, compared to its average volume of 191,677. Gibraltar Industries has a 1 year low of $25.61 and a 1 year high of $48.05. The company has a quick ratio of 1.93, a current ratio of 2.36 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $1,029.86, a price-to-earnings ratio of 20.31 and a beta of 1.78.
Gibraltar Industries (NASDAQ:ROCK) last released its earnings results on Friday, November 3rd. The construction company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.11. The firm had revenue of $274.57 million for the quarter, compared to analyst estimates of $275.80 million. Gibraltar Industries had a return on equity of 10.77% and a net margin of 3.08%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. sell-side analysts expect that Gibraltar Industries will post 1.67 EPS for the current year.
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A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Gibraltar Industries by 81,038.7% during the 1st quarter. BlackRock Inc. now owns 3,777,007 shares of the construction company’s stock worth $155,611,000 after purchasing an additional 3,772,352 shares during the last quarter. Vanguard Group Inc. raised its holdings in Gibraltar Industries by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 2,192,418 shares of the construction company’s stock valued at $90,327,000 after acquiring an additional 236,562 shares in the last quarter. Pzena Investment Management LLC raised its holdings in Gibraltar Industries by 133.5% in the 3rd quarter. Pzena Investment Management LLC now owns 1,852,838 shares of the construction company’s stock valued at $57,716,000 after acquiring an additional 1,059,175 shares in the last quarter. Aberdeen Asset Management PLC UK raised its holdings in Gibraltar Industries by 56.6% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 1,739,266 shares of the construction company’s stock valued at $62,005,000 after acquiring an additional 628,640 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Gibraltar Industries by 0.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,337,126 shares of the construction company’s stock valued at $47,668,000 after acquiring an additional 5,562 shares in the last quarter.
About Gibraltar Industries
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’s segments include Residential Products; Industrial and Infrastructure Products, and Renewable Energy and Conservation.
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