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

StockNews.com upgraded shares of Gibraltar Industries (NASDAQ:ROCK) from a buy rating to a strong-buy rating in a report released on Monday morning.

Gibraltar Industries Stock Performance

Shares of ROCK opened at $68.86 on Monday. The stock has a fifty day moving average price of $75.98 and a two-hundred day moving average price of $74.85. Gibraltar Industries has a 52-week low of $48.76 and a 52-week high of $87.40. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 19.48 and a beta of 1.17.

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

Institutional Investors Weigh In On Gibraltar Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Gibraltar Industries by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 2,819,914 shares of the construction company’s stock worth $222,717,000 after acquiring an additional 60,950 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Gibraltar Industries by 122.0% during the fourth quarter. Pacer Advisors Inc. now owns 820,031 shares of the construction company’s stock worth $64,766,000 after acquiring an additional 450,665 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Gibraltar Industries by 9.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 634,595 shares of the construction company’s stock worth $50,120,000 after acquiring an additional 56,126 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Gibraltar Industries by 182.7% during the third quarter. Assenagon Asset Management S.A. now owns 335,518 shares of the construction company’s stock worth $22,651,000 after acquiring an additional 216,818 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Gibraltar Industries by 2.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 318,167 shares of the construction company’s stock worth $25,129,000 after purchasing an additional 7,677 shares during the period. Institutional investors own 98.39% of the company’s stock.

About Gibraltar Industries

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.