Gulf Island Fabrication (NASDAQ:GIFI) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Gulf Island Fabrication (NASDAQ:GIFI) from a hold rating to a buy rating in a report issued on Thursday.

Gulf Island Fabrication Stock Performance

GIFI stock opened at $6.20 on Thursday. The firm has a 50 day moving average of $6.47 and a two-hundred day moving average of $6.67. Gulf Island Fabrication has a 12 month low of $5.12 and a 12 month high of $7.59. The company has a market capitalization of $100.88 million, a price-to-earnings ratio of 5.90 and a beta of 0.26. The company has a quick ratio of 4.50, a current ratio of 4.61 and a debt-to-equity ratio of 0.21.

Gulf Island Fabrication (NASDAQ:GIFI) last issued its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.15. Gulf Island Fabrication had a return on equity of 20.64% and a net margin of 10.54%. The business had revenue of $40.27 million for the quarter, compared to the consensus estimate of $36.50 million.

Institutional Investors Weigh In On Gulf Island Fabrication

A number of institutional investors have recently bought and sold shares of the business. Jane Street Group LLC bought a new stake in Gulf Island Fabrication in the fourth quarter valued at $83,000. Shufro Rose & Co. LLC bought a new stake in shares of Gulf Island Fabrication in the 1st quarter worth about $115,000. Perritt Capital Management Inc increased its position in shares of Gulf Island Fabrication by 25.0% during the 4th quarter. Perritt Capital Management Inc now owns 25,000 shares of the oil and gas company’s stock worth $170,000 after purchasing an additional 5,000 shares in the last quarter. Empowered Funds LLC bought a new position in Gulf Island Fabrication during the 4th quarter valued at about $180,000. Finally, Marshall Wace LLP acquired a new position in Gulf Island Fabrication in the fourth quarter valued at about $219,000. Institutional investors and hedge funds own 46.40% of the company’s stock.

Gulf Island Fabrication Company Profile

Gulf Island Fabrication, Inc, together with its subsidiaries, operates as a fabricator of steel structures and modules in the United States. It operates through Services, Fabrication, and Shipyard divisions. The company provides maintenance, repair, construction, scaffolding, coatings, welding enclosures, and other specialty services on offshore platforms, inland structures, and industrial facilities; services required to connect production equipment and service modules, and equipment on offshore platforms; project management and commissioning services; hookup services; and civil construction and staffing services to the industrial and energy sectors, as well as undertakes municipal and drainage projects, including pump stations, levee reinforcement, bulkheads, and other public works.