Gibraltar Industries Inc (NASDAQ:ROCK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
According to Zacks, “Gibraltar Industries’ shares look overvalued and also underperformed the Zacks categorized Building & Construction Products Miscellaneous industry, over the last three months. The company’s fourth-quarter 2016 revenues fell short of the prior-year figure by 17.7%. Closure of certain product lines and dismal conditions in the commodity & energy related markets might continue to hurt the top-line performance in the quarters ahead. In addition to this, certain headwinds, such as a stronger U.S. dollar, extensive industry rivalry or unfavorable government construction spending pattern, might limit near-term revenue and growth prospects. Over the last 60 days, Zacks Consensus Estimate for the stock moved south for 2017.”
Other research analysts also recently issued research reports about the company. TheStreet downgraded Gibraltar Industries from a “b” rating to a “c+” rating in a research note on Friday, February 17th. Wedbush reissued an “outperform” rating and set a $50.00 target price on shares of Gibraltar Industries in a research note on Monday, March 13th.
Gibraltar Industries (NASDAQ:ROCK) traded down 0.62% on Monday, reaching $39.85. 20,895 shares of the company traded hands. Gibraltar Industries has a one year low of $24.12 and a one year high of $48.05. The firm has a 50 day moving average of $41.25 and a 200-day moving average of $40.98. The stock has a market capitalization of $1.26 billion, a PE ratio of 37.99 and a beta of 2.03.
Gibraltar Industries (NASDAQ:ROCK) last posted its quarterly earnings data on Friday, February 17th. The company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.06. Gibraltar Industries had a net margin of 3.56% and a return on equity of 11.20%. The business earned $231.90 million during the quarter, compared to analysts’ expectations of $228.50 million. During the same quarter in the prior year, the business posted $0.29 earnings per share. Gibraltar Industries’s revenue was down 17.8% compared to the same quarter last year. On average, analysts anticipate that Gibraltar Industries will post $1.82 EPS for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of ROCK. MSI Financial Services Inc increased its position in shares of Gibraltar Industries by 1,815.3% in the third quarter. MSI Financial Services Inc now owns 2,873 shares of the company’s stock valued at $107,000 after buying an additional 2,723 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Gibraltar Industries during the third quarter valued at approximately $130,000. Pacad Investment Ltd. acquired a new position in shares of Gibraltar Industries during the fourth quarter valued at approximately $142,000. Smith Asset Management Group LP acquired a new position in shares of Gibraltar Industries during the third quarter valued at approximately $190,000. Finally, TD Asset Management Inc. acquired a new position in shares of Gibraltar Industries during the third quarter valued at approximately $215,000. 98.50% of the stock is owned by hedge funds and other institutional investors.
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’s segments include Residential Products; Industrial and Infrastructure Products, and Renewable Energy and Conservation.
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