Gibraltar Industries (NASDAQ:ROCK) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Gibraltar Industries (NASDAQ:ROCK) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

Gibraltar Industries Stock Down 0.7%

Shares of NASDAQ:ROCK opened at $59.08 on Wednesday. The business has a fifty day moving average of $56.98 and a two-hundred day moving average of $61.98. The stock has a market cap of $1.74 billion, a P/E ratio of 13.22 and a beta of 1.30. Gibraltar Industries has a 52-week low of $48.96 and a 52-week high of $81.90.

Gibraltar Industries (NASDAQ:ROCK) last issued its earnings results on Wednesday, April 30th. The construction company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.09. The company had revenue of $290.02 million during the quarter, compared to analysts’ expectations of $296.77 million. Gibraltar Industries had a return on equity of 13.19% and a net margin of 10.49%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 EPS. On average, equities analysts anticipate that Gibraltar Industries will post 4.91 earnings per share for the current year.

Insider Transactions at Gibraltar Industries

In other news, Director James B. Nish sold 1,172 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $58.21, for a total transaction of $68,222.12. Following the completion of the transaction, the director now directly owns 11,976 shares in the company, valued at approximately $697,122.96. This represents a 8.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Gibraltar Industries

Hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC grew its holdings in shares of Gibraltar Industries by 645.1% during the 4th quarter. Sterling Capital Management LLC now owns 529 shares of the construction company’s stock worth $31,000 after purchasing an additional 458 shares during the period. Brooklyn Investment Group purchased a new position in shares of Gibraltar Industries during the 1st quarter worth $36,000. Smartleaf Asset Management LLC grew its holdings in shares of Gibraltar Industries by 296.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 709 shares of the construction company’s stock worth $42,000 after purchasing an additional 530 shares during the period. GAMMA Investing LLC lifted its stake in Gibraltar Industries by 63.1% during the 1st quarter. GAMMA Investing LLC now owns 809 shares of the construction company’s stock worth $47,000 after acquiring an additional 313 shares in the last quarter. Finally, Atticus Wealth Management LLC acquired a new position in Gibraltar Industries during the 4th quarter worth about $53,000. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Gibraltar Industries Company Profile

Gibraltar Industries, Inc manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. It operates through four segments: Renewables, Residential, Agtech, and Infrastructure. The Renewables segment designs, engineers, manufactures, and installs solar racking and electrical balance of systems for commercial and distributed generation scale solar installations.