Zacks Investment Research Upgrades Gibraltar Industries, Inc. (NASDAQ:ROCK) to “Buy”

Gibraltar Industries, Inc. (NASDAQ:ROCK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, November 7th. The firm presently has a $37.00 price target on the construction company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 14.37% from the stock’s current price.

According to Zacks, “Over the past month, Gibraltar Industries’ shares have outperformed the industry. The company’s third-quarter 2017 adjusted earnings of 67 cents per share surpassed the Zacks Consensus Estimate of 54 cents and also came in higher than the year-ago tally of 55 cents. The upside stemmed from the successful implementation of the company’s five-year four-pillar value-creation strategy. The company believes stronger Residential and Renewable Energy and Conservation sales will bolster its revenues and profitability, going forward. Moreover, acquisitions, strategic portfolio management moves and new innovation investments are anticipated to generate benefits in the quarters ahead.”

A number of other brokerages have also recently issued reports on ROCK. BidaskClub cut shares of Gibraltar Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. TheStreet raised shares of Gibraltar Industries from a “c” rating to a “b-” rating in a research note on Friday, November 3rd. Finally, KeyCorp reissued a “buy” rating and issued a $39.00 price objective on shares of Gibraltar Industries in a research note on Sunday, October 15th. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. Gibraltar Industries has an average rating of “Buy” and an average price target of $42.00.

Shares of Gibraltar Industries (NASDAQ ROCK) opened at $32.35 on Tuesday. Gibraltar Industries has a twelve month low of $25.61 and a twelve month high of $48.05. The company has a market cap of $1,025.11, a P/E ratio of 20.22 and a beta of 1.78. The company has a current ratio of 2.36, a quick ratio of 1.93 and a debt-to-equity ratio of 0.41.

Gibraltar Industries (NASDAQ:ROCK) last announced its earnings results on Friday, November 3rd. The construction company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.11. The business had revenue of $274.57 million during the quarter, compared to analysts’ expectations of $275.80 million. Gibraltar Industries had a net margin of 3.08% and a return on equity of 10.77%. The firm’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company earned $0.55 earnings per share. equities research analysts predict that Gibraltar Industries will post 1.64 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. lifted its position in Gibraltar Industries by 87.0% during the first quarter. UBS Asset Management Americas Inc. now owns 10,975 shares of the construction company’s stock valued at $452,000 after purchasing an additional 5,107 shares during the last quarter. FMR LLC lifted its position in Gibraltar Industries by 2.7% during the first quarter. FMR LLC now owns 798,860 shares of the construction company’s stock valued at $32,913,000 after purchasing an additional 20,669 shares during the last quarter. Vanguard Group Inc. lifted its position in Gibraltar Industries by 12.1% during the first quarter. Vanguard Group Inc. now owns 2,192,418 shares of the construction company’s stock valued at $90,327,000 after purchasing an additional 236,562 shares during the last quarter. Geode Capital Management LLC lifted its position in Gibraltar Industries by 7.2% during the first quarter. Geode Capital Management LLC now owns 267,349 shares of the construction company’s stock valued at $11,014,000 after purchasing an additional 17,849 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Gibraltar Industries by 81,038.7% during the first quarter. BlackRock Inc. now owns 3,777,007 shares of the construction company’s stock valued at $155,611,000 after purchasing an additional 3,772,352 shares during the last quarter.

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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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