Zacks Investment Research downgraded shares of Gibraltar Industries Inc. (NASDAQ:ROCK) from a buy rating to a hold rating in a report published on Thursday.
According to Zacks, “Gibraltar Industries has been steadily boosting its business on the back of its productive value-creating growth strategy. Moreover, the strategic acquisition of Nexus is expected to fortify the formerly acquired RBI business. This will widen the company’s commercial greenhouse market share in the near term. Also, restructuring programs and capital-deployment plans have been driving near-term growth. However, certain headwinds, such as a stronger U.S. dollar, extensive industry rivalry or unfavorable government construction spending pattern, might limit the benefits generated from the above mentioned aspects. Over the last 60 days, the Zacks Consensus Estimate for the stock has not changed for 2016, however has been marginally revised upward for 2017. “
Separately, Wedbush reissued an outperform rating and set a $38.00 price objective on shares of Gibraltar Industries in a research note on Thursday, July 28th.
Gibraltar Industries (NASDAQ:ROCK) traded up 0.03% on Thursday, reaching $37.45. The company’s stock had a trading volume of 47,438 shares. The firm has a 50 day moving average price of $37.46 and a 200 day moving average price of $32.87. Gibraltar Industries has a 52 week low of $18.23 and a 52 week high of $40.00. The stock has a market capitalization of $1.18 billion, a P/E ratio of 31.98 and a beta of 2.25.
Gibraltar Industries (NASDAQ:ROCK) last issued its earnings results on Thursday, July 28th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.07. Gibraltar Industries had a net margin of 3.44% and a return on equity of 11.17%. The company earned $263.10 million during the quarter, compared to analysts’ expectations of $271.27 million. During the same period last year, the company posted $0.25 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities analysts anticipate that Gibraltar Industries will post $1.45 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. boosted its position in shares of Gibraltar Industries by 7.8% in the second quarter. American Century Companies Inc. now owns 38,561 shares of the company’s stock worth $1,217,000 after buying an additional 2,774 shares during the period. Bank of Montreal Can acquired a new position in shares of Gibraltar Industries during the second quarter worth $1,082,000. Capstone Asset Management Co. boosted its position in shares of Gibraltar Industries by 2.9% in the second quarter. Capstone Asset Management Co. now owns 8,979 shares of the company’s stock worth $283,000 after buying an additional 250 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Gibraltar Industries by 130.4% in the second quarter. BNP Paribas Arbitrage SA now owns 9,356 shares of the company’s stock worth $295,000 after buying an additional 5,296 shares during the period. Finally, A.R.T. Advisors LLC boosted its position in shares of Gibraltar Industries by 40.4% in the first quarter. A.R.T. Advisors LLC now owns 36,867 shares of the company’s stock worth $1,054,000 after buying an additional 10,600 shares during the period. 98.24% of the stock is owned by institutional investors and hedge funds.
Gibraltar Industries Company Profile
Gibraltar Industries, Inc is a manufacturer and distributor of building products for industrial, transportation infrastructure, residential housing, renewable energy and resource conservation markets. The Company operates through three segments: Residential Products, Industrial and Infrastructure Products and Renewable Energy and Conservation.