Gibraltar Industries’ (ROCK) “Outperform” Rating Reiterated at Wedbush

Gibraltar Industries Inc. (NASDAQ:ROCK)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a research report issued on Friday. They currently have a $45.00 target price on the stock. Wedbush’s price target indicates a potential upside of 20.19% from the stock’s previous close.

Separately, Zacks Investment Research downgraded shares of Gibraltar Industries from a “buy” rating to a “hold” rating in a report on Thursday.

Shares of Gibraltar Industries (NASDAQ:ROCK) opened at 37.44 on Friday. The stock has a 50 day moving average price of $37.46 and a 200 day moving average price of $32.87. The firm has a market capitalization of $1.18 billion, a PE ratio of 31.97 and a beta of 2.25. Gibraltar Industries has a 1-year low of $18.23 and a 1-year high of $40.00.

Gibraltar Industries (NASDAQ:ROCK) last released its earnings results on Thursday, July 28th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.07. Gibraltar Industries had a return on equity of 11.17% and a net margin of 3.44%. The firm earned $263.10 million during the quarter, compared to analysts’ expectations of $271.27 million. During the same period in the prior year, the company earned $0.25 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. Equities research analysts anticipate that Gibraltar Industries will post $1.45 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. 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 period. Capstone Asset Management Co. increased its stake in Gibraltar Industries by 1.1% in the third quarter. Capstone Asset Management Co. now owns 9,079 shares of the company’s stock worth $337,000 after buying an additional 100 shares during the last quarter. Algert Global LLC increased its stake in Gibraltar Industries by 70.9% in the third quarter. Algert Global LLC now owns 45,827 shares of the company’s stock worth $1,702,000 after buying an additional 19,006 shares during the last quarter. Mason Street Advisors LLC bought a new stake in Gibraltar Industries during the second quarter worth $184,000. Finally, Schwab Charles Investment Management Inc. increased its stake in Gibraltar Industries by 5.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 104,630 shares of the company’s stock worth $3,304,000 after buying an additional 5,560 shares during the last quarter. 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.

5 Day Chart for NASDAQ:ROCK

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