Gibraltar Industries (ROCK) Downgraded by BidaskClub to “Hold”

Gibraltar Industries (NASDAQ:ROCK) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, April 3rd, BidAskClub reports.

A number of other research analysts have also recently weighed in on ROCK. Zacks Investment Research raised shares of Gibraltar Industries from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday, January 2nd. ValuEngine raised shares of Gibraltar Industries from a “sell” rating to a “hold” rating in a research report on Friday, December 21st. Finally, Sidoti started coverage on shares of Gibraltar Industries in a research report on Tuesday, January 8th. They set a “neutral” rating and a $40.00 price target on the stock.

Shares of NASDAQ ROCK traded down $0.05 during midday trading on Wednesday, reaching $39.81. 187,480 shares of the stock were exchanged, compared to its average volume of 157,482. Gibraltar Industries has a 52-week low of $31.96 and a 52-week high of $49.10. The company has a market cap of $1.28 billion, a PE ratio of 18.60 and a beta of 1.53.

Gibraltar Industries (NASDAQ:ROCK) last released its earnings results on Thursday, February 21st. The construction company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.07. Gibraltar Industries had a net margin of 6.37% and a return on equity of 12.23%. The business had revenue of $240.91 million for the quarter, compared to analysts’ expectations of $244.45 million. During the same period last year, the company earned $0.41 earnings per share. The company’s quarterly revenue was down 6.7% on a year-over-year basis. As a group, analysts expect that Gibraltar Industries will post 2.52 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Laurion Capital Management LP purchased a new stake in shares of Gibraltar Industries during the third quarter valued at approximately $201,000. Ibex Investors LLC purchased a new stake in shares of Gibraltar Industries during the third quarter valued at approximately $201,000. Amalgamated Bank purchased a new stake in shares of Gibraltar Industries during the third quarter valued at approximately $211,000. PNC Financial Services Group Inc. raised its stake in shares of Gibraltar Industries by 99.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,849 shares of the construction company’s stock valued at $173,000 after purchasing an additional 2,418 shares during the period. Finally, AQR Capital Management LLC purchased a new stake in shares of Gibraltar Industries during the third quarter valued at approximately $229,000.

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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