Gibraltar Industries (ROCK) Upgraded to “Hold” at Zacks Investment Research

Gibraltar Industries (NASDAQ:ROCK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to 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 research firms have also issued reports on ROCK. ValuEngine lowered Gibraltar Industries from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. BidaskClub lowered Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 2nd.

Shares of ROCK traded down $0.26 during trading hours on Thursday, hitting $35.81. The company had a trading volume of 151 shares, compared to its average volume of 140,237. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.78 and a quick ratio of 2.27. The firm has a market cap of $1.16 billion, a PE ratio of 20.71 and a beta of 1.88. Gibraltar Industries has a 52-week low of $29.50 and a 52-week high of $49.10.

Gibraltar Industries (NASDAQ:ROCK) last posted its quarterly earnings results on Thursday, November 1st. The construction company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.01. The firm had revenue of $280.10 million during the quarter, compared to analyst estimates of $287.93 million. Gibraltar Industries had a return on equity of 12.23% and a net margin of 7.44%. Gibraltar Industries’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 EPS. As a group, sell-side analysts anticipate that Gibraltar Industries will post 2.07 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its holdings in 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 worth $109,000 after buying an additional 1,400 shares in the last quarter. Ibex Investors LLC bought a new stake in Gibraltar Industries in the 3rd quarter worth about $201,000. Laurion Capital Management LP bought a new stake in Gibraltar Industries in the 3rd quarter worth about $201,000. Sawtooth Solutions LLC bought a new stake in Gibraltar Industries in the 3rd quarter worth about $208,000. Finally, Amalgamated Bank bought a new stake in Gibraltar Industries in the 3rd quarter worth about $211,000.

Gibraltar Industries Company Profile

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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