Zacks Investment Research upgraded shares of Gibraltar Industries (NASDAQ:ROCK) from a sell rating to a hold rating in a research note issued to investors on Thursday.
According to Zacks, “Gibraltar reported mixed third-quarter results, wherein earnings beat the Zacks Consensus Estimate but revenues missed the same by 1.4% and 2.4%, respectively. Nonetheless, both top and bottom lines increased 2% and 6%, respectively, year-over-year. The improved performance was backed by robust performance by the Renewable Energy & Conservation segment, along with effective price-material cost management. However, operating margin contracted 130 bps due to its unfavorable product mix and volume. Lower demand in the Infrastructure segment added to the woes. Although shares of Gibraltar have outperformed the industry so far this year, its earnings estimates for 2018 and 2019 have declined over the past 30 days, reflecting analyst's concern over the stock’s upside potential.”
ROCK has been the subject of several other research reports. BidaskClub upgraded shares of Gibraltar Industries from a buy rating to a strong-buy rating in a research report on Saturday, September 22nd. ValuEngine upgraded shares of Gibraltar Industries from a sell rating to a hold rating in a research report on Thursday.
Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings data on Thursday, November 1st. The construction company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.01. Gibraltar Industries had a net margin of 7.44% and a return on equity of 12.23%. The business had revenue of $280.10 million during the quarter, compared to analyst estimates of $287.93 million. During the same quarter last year, the business earned $0.67 earnings per share. Gibraltar Industries’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, research analysts predict that Gibraltar Industries will post 2.07 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its position in Gibraltar Industries by 93.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,900 shares of the construction company’s stock valued at $109,000 after purchasing an additional 1,400 shares during the last quarter. Laurion Capital Management LP bought a new position in Gibraltar Industries during the third quarter valued at $201,000. Ibex Investors LLC bought a new position in Gibraltar Industries during the third quarter valued at $201,000. Sawtooth Solutions LLC bought a new position in Gibraltar Industries during the third quarter valued at $208,000. Finally, Amalgamated Bank bought a new position in Gibraltar Industries during the third quarter valued at $211,000.
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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