Zacks Investment Research Downgrades Gibraltar Industries Inc. (ROCK) to Hold
Gibraltar Industries Inc. (NASDAQ:ROCK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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 reiterated an “outperform” rating and issued a $38.00 target price (up from $33.00) on shares of Gibraltar Industries in a research note on Friday, July 15th.
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Gibraltar Industries (NASDAQ:ROCK) opened at 38.33 on Thursday. Gibraltar Industries has a 52-week low of $18.23 and a 52-week high of $40.00. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 32.73 and a beta of 2.25. The firm’s 50-day moving average is $37.49 and its 200 day moving average is $32.84.
Gibraltar Industries (NASDAQ:ROCK) last posted its earnings results on Thursday, July 28th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the 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 firm earned $263.10 million during the quarter, compared to analysts’ expectations of $271.27 million. During the same period in the previous year, the business posted $0.25 EPS. The business’s revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts predict that Gibraltar Industries will post $1.45 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of ROCK. PineBridge Investments L.P. raised its stake in shares of Gibraltar Industries by 3.9% in the second quarter. PineBridge Investments L.P. now owns 3,772 shares of the company’s stock valued at $119,000 after buying an additional 140 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Gibraltar Industries by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 4,119 shares of the company’s stock valued at $130,000 after buying an additional 499 shares during the last quarter. KBC Group NV bought a new stake in shares of Gibraltar Industries during the second quarter valued at approximately $137,000. BlackRock Inc. raised its stake in shares of Gibraltar Industries by 120.5% in the second quarter. BlackRock Inc. now owns 4,911 shares of the company’s stock valued at $155,000 after buying an additional 2,684 shares during the last quarter. Finally, Mason Street Advisors LLC bought a new stake in shares of Gibraltar Industries during the second quarter valued at approximately $184,000. 98.24% of the stock is owned by institutional investors.
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.
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