Gibraltar Industries Inc. (ROCK) Downgraded by Zacks Investment Research
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.
Shares of Gibraltar Industries (NASDAQ:ROCK) opened at 37.35 on Thursday. Gibraltar Industries has a 52 week low of $18.23 and a 52 week high of $40.00. The company has a 50-day moving average of $37.39 and a 200-day moving average of $33.08. The firm has a market capitalization of $1.18 billion, a PE ratio of 31.90 and a beta of 2.25.
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 analysts’ consensus estimates of $0.39 by $0.07. The company had revenue of $263.10 million for the quarter, compared to analysts’ expectations of $271.27 million. Gibraltar Industries had a return on equity of 11.17% and a net margin of 3.44%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business posted $0.25 earnings per share. On average, equities analysts forecast that Gibraltar Industries will post $1.45 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. Riverhead Capital Management LLC boosted its stake in shares of Gibraltar Industries by 4,826.6% in the second quarter. Riverhead Capital Management LLC now owns 364,173 shares of the company’s stock worth $30,379,000 after buying an additional 356,781 shares in the last quarter. Aberdeen Asset Management PLC UK boosted its stake in shares of Gibraltar Industries by 25.7% in the second quarter. Aberdeen Asset Management PLC UK now owns 836,426 shares of the company’s stock worth $26,406,000 after buying an additional 171,234 shares in the last quarter. G2 Investment Partners Management LLC bought a new stake in shares of Gibraltar Industries during the second quarter worth $4,312,000. Renaissance Technologies LLC boosted its stake in shares of Gibraltar Industries by 9.3% in the first quarter. Renaissance Technologies LLC now owns 1,039,153 shares of the company’s stock worth $29,720,000 after buying an additional 88,300 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Gibraltar Industries by 14.5% in the second quarter. Ameriprise Financial Inc. now owns 602,227 shares of the company’s stock worth $19,011,000 after buying an additional 76,481 shares in the last quarter. Institutional investors and hedge funds own 98.10% of the company’s stock.
About Gibraltar Industries
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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