Gibraltar Industries, Inc. (ROCK) Rating Increased to Hold at Zacks Investment Research
Gibraltar Industries, Inc. (NASDAQ:ROCK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “In the last one month, Gibraltar Industries' shares have outperformed the Zacks categorized Building & Construction Products Miscellaneous industry. The company intends to fortify its business on the back of unique innovations, ongoing 80/20 simplification process and new acquisitions. However, headwinds such as tepid end-market conditions, input price inflation, weaker volumes and backlogs are expected to hurt Gibraltar Industries' results in the upcoming quarters. For 2017, the company trimmed its earnings guidance to the $1.57-$1.70 per share range. Revenue is predicted to lie within the $970-$980 million range, down 2-3% year over year. Over the last 30 days, the Zacks Consensus Estimate for the stock remained unchanged for both 2017 and 2018.”
Other equities analysts have also issued reports about the stock. KeyCorp reaffirmed an “overweight” rating and issued a $19.00 target price (down from $49.00) on shares of Gibraltar Industries in a research note on Thursday, May 11th. Wedbush reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Gibraltar Industries in a research note on Monday, March 13th. Finally, BidaskClub raised shares of Gibraltar Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $37.00.
Gibraltar Industries (ROCK) traded down 0.653% during mid-day trading on Tuesday, reaching $34.225. The company had a trading volume of 152,743 shares. The stock has a market cap of $1.08 billion, a PE ratio of 38.498 and a beta of 1.86. The firm’s 50-day moving average price is $33.21 and its 200-day moving average price is $39.01. Gibraltar Industries has a 12 month low of $30.40 and a 12 month high of $48.05.
Gibraltar Industries (NASDAQ:ROCK) last announced its earnings results on Friday, May 5th. The construction company reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.01. The company had revenue of $206.60 million during the quarter, compared to analyst estimates of $209.88 million. Gibraltar Industries had a return on equity of 10.49% and a net margin of 2.77%. Gibraltar Industries’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 earnings per share. Equities research analysts forecast that Gibraltar Industries will post $1.63 EPS for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in the company. Capstone Asset Management Co. raised its position in shares of Gibraltar Industries by 1.1% in the third quarter. Capstone Asset Management Co. now owns 9,079 shares of the construction company’s stock worth $337,000 after buying an additional 100 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Gibraltar Industries by 2.9% in the first quarter. State of Alaska Department of Revenue now owns 3,490 shares of the construction company’s stock worth $143,000 after buying an additional 100 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Gibraltar Industries by 1.1% in the first quarter. Municipal Employees Retirement System of Michigan now owns 9,860 shares of the construction company’s stock worth $407,000 after buying an additional 110 shares during the last quarter. PineBridge Investments L.P. raised its position in shares of Gibraltar Industries by 3.9% in the second quarter. PineBridge Investments L.P. now owns 3,772 shares of the construction company’s stock worth $119,000 after buying an additional 140 shares during the last quarter. Finally, Navellier & Associates Inc raised its position in shares of Gibraltar Industries by 2.5% in the first quarter. Navellier & Associates Inc now owns 8,528 shares of the construction company’s stock worth $351,000 after buying an additional 211 shares during the last quarter.
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’s segments include Residential Products; Industrial and Infrastructure Products, and Renewable Energy and Conservation.
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