Gibraltar Industries (ROCK) Upgraded to Strong-Buy at BidaskClub
Gibraltar Industries (NASDAQ:ROCK) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.
Several other brokerages have also recently issued reports on ROCK. KeyCorp reaffirmed a “buy” rating and issued a $39.00 target price on shares of Gibraltar Industries in a report on Sunday, October 15th. TheStreet raised shares of Gibraltar Industries from a “c” rating to a “b-” rating in a report on Friday, November 3rd. Finally, Zacks Investment Research cut shares of Gibraltar Industries from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Gibraltar Industries has an average rating of “Buy” and a consensus target price of $42.00.
Shares of Gibraltar Industries (NASDAQ:ROCK) traded up $0.85 during trading on Thursday, reaching $37.45. 285,230 shares of the company’s stock traded hands, compared to its average volume of 248,460. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.36 and a quick ratio of 1.93. The stock has a market capitalization of $1,159.79, a PE ratio of 40.71 and a beta of 1.78. Gibraltar Industries has a twelve month low of $25.61 and a twelve month high of $45.05.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ROCK. Schwab Charles Investment Management Inc. raised its holdings in shares of Gibraltar Industries by 21.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 153,262 shares of the construction company’s stock valued at $5,464,000 after purchasing an additional 26,640 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Gibraltar Industries by 9.1% during the second quarter. Legal & General Group Plc now owns 59,258 shares of the construction company’s stock valued at $2,112,000 after purchasing an additional 4,925 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Gibraltar Industries by 4.5% during the second quarter. JPMorgan Chase & Co. now owns 277,115 shares of the construction company’s stock valued at $9,880,000 after purchasing an additional 11,931 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Gibraltar Industries during the second quarter valued at approximately $384,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Gibraltar Industries by 33.3% during the second quarter. Wells Fargo & Company MN now owns 92,393 shares of the construction company’s stock valued at $3,294,000 after purchasing an additional 23,087 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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