Gulf Island Fabrication (NASDAQ:GIFI) Upgraded to Buy at StockNews.com

Gulf Island Fabrication (NASDAQ:GIFI) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Gulf Island Fabrication Price Performance

Shares of GIFI stock traded up $0.92 during trading hours on Thursday, hitting $6.94. 80,078 shares of the company’s stock were exchanged, compared to its average volume of 58,340. The company has a quick ratio of 3.80, a current ratio of 3.89 and a debt-to-equity ratio of 0.22. The firm has a market cap of $114.62 million, a P/E ratio of 6.61 and a beta of 0.48. The firm has a 50 day moving average of $5.53 and a two-hundred day moving average of $6.09. Gulf Island Fabrication has a fifty-two week low of $3.81 and a fifty-two week high of $7.93.

Gulf Island Fabrication (NASDAQ:GIFI) last announced its earnings results on Tuesday, November 5th. The oil and gas company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. Gulf Island Fabrication had a negative return on equity of 22.34% and a negative net margin of 13.47%. The business had revenue of $37.64 million during the quarter.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new position in Gulf Island Fabrication in the 2nd quarter valued at $73,000. Robotti Robert acquired a new position in Gulf Island Fabrication in the 1st quarter valued at $74,000. Ritholtz Wealth Management acquired a new position in Gulf Island Fabrication in the 2nd quarter valued at $161,000. Squarepoint Ops LLC purchased a new stake in Gulf Island Fabrication in the 2nd quarter valued at $178,000. Finally, Marshall Wace LLP purchased a new stake in Gulf Island Fabrication in the 2nd quarter valued at $191,000. 46.40% of the stock is owned by institutional investors and hedge funds.

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.