Zacks Investment Research Upgrades Gibraltar Industries (ROCK) to Hold

Gibraltar Industries (NASDAQ:ROCK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “Gibraltar is progressing well operationally as well as financially on the back of its four-pillar value creation strategy that comprises operational excellence, product innovation, portfolio management and acquisitions as a strategic accelerator. Moreover, strong demand for community solar, which is the market Gibraltar serves, is quite encouraging. However, rising material cost remain a headwind. The company’s high dependency on government funding further add to the woes. Although shares of Gibraltar have outperformed the industry so far this year, its earnings estimate for 2018 has declined over the past 60 days, reflecting analyst's concern over the stock’s upside potential.”

Several other equities analysts have also recently issued reports on ROCK. BidaskClub cut Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 2nd. ValuEngine cut Gibraltar Industries from a “hold” rating to a “sell” rating in a report on Thursday, November 1st.

Shares of ROCK opened at $34.76 on Thursday. Gibraltar Industries has a one year low of $29.50 and a one year high of $49.10. The company has a quick ratio of 2.27, a current ratio of 2.78 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 17.00 and a beta of 1.88.

Gibraltar Industries (NASDAQ:ROCK) last issued its quarterly earnings data on Thursday, November 1st. The construction company reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.01. The business had revenue of $280.10 million during the quarter, compared to analysts’ expectations of $287.93 million. Gibraltar Industries had a return on equity of 12.23% and a net margin of 7.44%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 EPS. As a group, equities research analysts expect that Gibraltar Industries will post 2.07 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in shares of Gibraltar Industries by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 9,161 shares of the construction company’s stock valued at $344,000 after buying an additional 1,256 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Gibraltar Industries by 93.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,900 shares of the construction company’s stock valued at $109,000 after buying an additional 1,400 shares during the period. Global X Management Co LLC lifted its holdings in shares of Gibraltar Industries by 19.0% in the 2nd quarter. Global X Management Co LLC now owns 9,145 shares of the construction company’s stock valued at $343,000 after buying an additional 1,457 shares during the period. Stone Ridge Asset Management LLC lifted its holdings in shares of Gibraltar Industries by 26.9% in the 3rd quarter. Stone Ridge Asset Management LLC now owns 7,426 shares of the construction company’s stock valued at $339,000 after buying an additional 1,574 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Gibraltar Industries by 2.0% in the 2nd quarter. Rhumbline Advisers now owns 82,465 shares of the construction company’s stock valued at $3,092,000 after buying an additional 1,622 shares during the period.

About Gibraltar Industries

Gibraltar Industries, Inc manufactures and distributes building products in North America and Asia. It operates through three segments: Residential Products, Industrial and Infrastructure Products, and Renewable Energy and Conservation. The Residential Products segment offers roof and foundation ventilation products and accessories, such as solar powered units; mail and electronic package solutions, including single mailboxes, cluster style mail and parcel boxes for single and multi-family housing, and electronic package locker systems; roof edgings and flashings; soffits and trims; drywall corner beads; metal roofing products and accessories; rain dispersion products comprising gutters and accessories; and exterior retractable awnings.

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