Gibraltar Industries Inc. (NASDAQ:ROCK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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 set a $38.00 target price (up from $33.00) on shares of Gibraltar Industries in a research note on Friday, July 15th.
Gibraltar Industries (NASDAQ:ROCK) opened at 38.33 on Thursday. Gibraltar Industries has a 12 month low of $18.23 and a 12 month high of $40.00. The firm has a market capitalization of $1.21 billion, a P/E ratio of 32.73 and a beta of 2.25. The company’s 50 day moving average price is $37.49 and its 200 day moving average price is $32.84.
Gibraltar Industries (NASDAQ:ROCK) last posted its earnings results on Thursday, July 28th. The company reported $0.46 EPS for the quarter, topping 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 quarter in the prior year, the firm earned $0.25 EPS. Gibraltar Industries’s quarterly revenue was up 3.9% on a year-over-year basis. Analysts anticipate that Gibraltar Industries will post $1.45 EPS for the current year.
Large investors have recently added to or reduced their stakes in the company. PineBridge Investments L.P. boosted its stake in Gibraltar Industries by 3.9% in the second quarter. PineBridge Investments L.P. now owns 3,772 shares of the company’s stock worth $119,000 after buying an additional 140 shares during the last quarter. Teacher Retirement System of Texas boosted 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 worth $130,000 after buying an additional 499 shares in the last quarter. KBC Group NV purchased a new stake in shares of Gibraltar Industries during the second quarter worth about $137,000. BlackRock Inc. boosted 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 worth $155,000 after buying an additional 2,684 shares in the last quarter. Finally, Mason Street Advisors LLC purchased a new stake in shares of Gibraltar Industries during the second quarter worth about $184,000. Institutional investors own 98.24% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Gibraltar Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gibraltar Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.