StockNews.com Upgrades Gibraltar Industries (NASDAQ:ROCK) to “Strong-Buy”

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

Gibraltar Industries Price Performance

NASDAQ ROCK traded up $0.66 during trading on Monday, hitting $72.92. 116,342 shares of the company’s stock traded hands, compared to its average volume of 172,798. The firm has a market cap of $2.22 billion, a P/E ratio of 20.31 and a beta of 1.17. The stock has a fifty day moving average of $76.25 and a two-hundred day moving average of $74.79. Gibraltar Industries has a 12-month low of $48.76 and a 12-month high of $87.40.

Gibraltar Industries (NASDAQ:ROCK) last issued its earnings results on Wednesday, February 21st. The construction company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). The company had revenue of $328.80 million for the quarter, compared to analysts’ expectations of $331.40 million. Gibraltar Industries had a net margin of 8.02% and a return on equity of 14.50%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.72 earnings per share. As a group, analysts expect that Gibraltar Industries will post 4.73 earnings per share for the current fiscal year.

Institutional Trading of Gibraltar Industries

Large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Gibraltar Industries by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 2,819,914 shares of the construction company’s stock valued at $222,717,000 after purchasing an additional 60,950 shares during the period. Pacer Advisors Inc. raised its stake in Gibraltar Industries by 122.0% in the fourth quarter. Pacer Advisors Inc. now owns 820,031 shares of the construction company’s stock worth $64,766,000 after buying an additional 450,665 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Gibraltar Industries by 9.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 634,595 shares of the construction company’s stock worth $50,120,000 after buying an additional 56,126 shares during the period. Assenagon Asset Management S.A. boosted its position in Gibraltar Industries by 182.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 335,518 shares of the construction company’s stock valued at $22,651,000 after acquiring an additional 216,818 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Gibraltar Industries by 2.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 318,167 shares of the construction company’s stock valued at $25,129,000 after acquiring an additional 7,677 shares in the last quarter. 98.39% of the stock is owned by institutional investors.

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.