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

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Zacks Investment Research upgraded shares of Gibraltar Industries (NASDAQ:ROCK) from a hold rating to a buy rating in a report issued on Wednesday, May 30th. The firm currently has $45.00 target price on the construction company’s stock.

According to Zacks, “Over the last six months, Gibraltar Industries’ shares have outperformed the industry. The company is becoming more competent over time on the back of its four-pillar value creation strategy.  In sync with this program, Gibraltar Industries’ is making well-planned acquisitions, improving operational excellence, advancing technological know-how and undertaking calculated portfolio management moves. Also, increased construction spending in the United States will likely boost Gibraltar Industries’ revenues going forward. Over the last 60 days, Zacks Consensus Estimate for the stock has moved up for 2018 and 2019.”

ROCK has been the topic of several other research reports. ValuEngine cut Gibraltar Industries from a hold rating to a sell rating in a report on Wednesday, April 11th. BidaskClub cut Gibraltar Industries from a buy rating to a hold rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $42.00.

NASDAQ:ROCK traded down $0.70 during trading hours on Wednesday, reaching $38.80. The company had a trading volume of 299,692 shares, compared to its average volume of 253,769. Gibraltar Industries has a one year low of $25.61 and a one year high of $40.70. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 22.69 and a beta of 1.85. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.04 and a quick ratio of 2.42.

Gibraltar Industries (NASDAQ:ROCK) last announced its earnings results on Friday, May 4th. The construction company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.01). The business had revenue of $216.30 million for the quarter, compared to the consensus estimate of $215.63 million. Gibraltar Industries had a return on equity of 11.08% and a net margin of 6.72%. Gibraltar Industries’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.20 EPS. research analysts expect that Gibraltar Industries will post 2.08 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of ROCK. SG Americas Securities LLC bought a new position in Gibraltar Industries in the first quarter valued at about $116,000. US Bancorp DE boosted its holdings in Gibraltar Industries by 54.4% in the first quarter. US Bancorp DE now owns 3,977 shares of the construction company’s stock valued at $134,000 after acquiring an additional 1,402 shares during the last quarter. Xact Kapitalforvaltning AB bought a new position in Gibraltar Industries in the first quarter valued at about $230,000. Trexquant Investment LP bought a new position in Gibraltar Industries in the first quarter valued at about $233,000. Finally, Global X Management Co. LLC bought a new position in Gibraltar Industries in the first quarter valued at about $260,000.

Gibraltar Industries Company Profile

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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