Gibraltar Industries Inc. (ROCK) Trading Up 2.2%
Gibraltar Industries Inc. (NASDAQ:ROCK)’s share price was up 2.2% on Monday . The stock traded as high as $38.02 and last traded at $37.76, with a volume of 173,892 shares trading hands. The stock had previously closed at $36.93.
Several equities analysts have weighed in on ROCK shares. Zacks Investment Research upgraded Gibraltar Industries from a “hold” rating to a “strong-buy” rating and set a $41.00 price target for the company in a report on Monday, July 18th. Wedbush restated an “outperform” rating and set a $38.00 price target (up previously from $33.00) on shares of Gibraltar Industries in a report on Friday, July 15th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $32.80.
The company has a market capitalization of $1.20 billion and a price-to-earnings ratio of 32.43. The stock’s 50 day moving average is $35.88 and its 200-day moving average is $29.21.
Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. The firm had revenue of $263.10 million for the quarter, compared to analyst estimates of $271.27 million. During the same quarter last year, the company earned $0.25 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities research analysts predict that Gibraltar Industries Inc. will post $1.45 earnings per share for the current fiscal year.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in ROCK. Schwab Charles Investment Management Inc. boosted its position in Gibraltar Industries by 2.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 97,218 shares of the company’s stock worth $2,474,000 after buying an additional 2,429 shares during the period. Systematic Financial Management LP boosted its position in Gibraltar Industries by 6.8% in the fourth quarter. Systematic Financial Management LP now owns 40,600 shares of the company’s stock worth $1,032,000 after buying an additional 2,600 shares during the period. California Public Employees Retirement System boosted its position in Gibraltar Industries by 68.6% in the fourth quarter. California Public Employees Retirement System now owns 109,900 shares of the company’s stock worth $2,796,000 after buying an additional 44,700 shares during the period. Finally, Rhumbline Advisers boosted its position in Gibraltar Industries by 2.0% in the fourth quarter. Rhumbline Advisers now owns 53,768 shares of the company’s stock worth $1,368,000 after buying an additional 1,035 shares during the period.
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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