Zacks Investment Research Upgrades Gibraltar Industries (NASDAQ:ROCK) to Buy

Gibraltar Industries (NASDAQ:ROCK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, Zacks.com reports. The brokerage presently has a $59.00 price objective on the construction company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 7.80% from the stock’s current price.

According to Zacks, “Shares of Gibraltar have outperformed the industry in the past year. The outperformance was mainly attributed to benefits from 80/20 simplification, interest savings on loan repayment and supply-chain initiatives. Also, the strengthening of solar, greenhouse, perimeter security and infrastructure businesses added to the positives. Moreover, solid contributions from acquisitions of SolarBos and Apeks Supercritical added to the upside. Meanwhile, earnings estimates for 2020 have remained stable in the past 60 days. However higher input cost inflation has been hurting the company’s performance to some extent. Also, continued volatility in material costs, owing to tariff-related issues, are adding to the woes.”

Several other analysts also recently commented on ROCK. ValuEngine raised Gibraltar Industries from a “sell” rating to a “hold” rating in a research note on Sunday, October 27th. BidaskClub raised Gibraltar Industries from a “sell” rating to a “hold” rating in a research note on Friday, January 17th.

Gibraltar Industries stock traded down $1.45 during mid-day trading on Friday, hitting $54.73. 166,031 shares of the company’s stock were exchanged, compared to its average volume of 182,937. The firm has a market capitalization of $1.81 billion, a P/E ratio of 28.07 and a beta of 1.49. Gibraltar Industries has a fifty-two week low of $33.93 and a fifty-two week high of $56.53. The company has a quick ratio of 1.46, a current ratio of 1.81 and a debt-to-equity ratio of 0.03. The company’s 50 day simple moving average is $52.05 and its 200-day simple moving average is $47.01.

Gibraltar Industries (NASDAQ:ROCK) last issued its quarterly earnings data on Friday, October 25th. The construction company reported $0.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.09. The business had revenue of $299.20 million for the quarter, compared to the consensus estimate of $290.20 million. Gibraltar Industries had a return on equity of 12.74% and a net margin of 6.20%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS. Research analysts expect that Gibraltar Industries will post 2.55 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC acquired a new stake in shares of Gibraltar Industries in the 4th quarter valued at about $25,000. Russell Investments Group Ltd. acquired a new stake in shares of Gibraltar Industries in the 2nd quarter valued at about $31,000. Bank of Montreal Can raised its stake in shares of Gibraltar Industries by 240.0% in the 2nd quarter. Bank of Montreal Can now owns 3,859 shares of the construction company’s stock valued at $155,000 after purchasing an additional 2,724 shares during the period. Paloma Partners Management Co acquired a new stake in shares of Gibraltar Industries in the 2nd quarter valued at about $224,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Gibraltar Industries by 199.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,086 shares of the construction company’s stock valued at $257,000 after purchasing an additional 3,390 shares during the period. 98.56% of the stock is currently owned by hedge funds and other institutional investors.

About Gibraltar Industries

Gibraltar Industries, Inc manufactures and distributes building products in North America and Asia. It operates through three segments: Residential Products, Industrial and Infrastructure Products, and Renewable Energy and Conservation. The Residential Products segment offers roof and foundation ventilation products and accessories, such as solar powered units; mail and electronic package solutions, including single mailboxes, cluster style mail and parcel boxes for single and multi-family housing, and electronic package locker systems; roof edgings and flashings; soffits and trims; drywall corner beads; metal roofing products and accessories; rain dispersion products comprising gutters and accessories; and exterior retractable awnings.

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