Gibraltar Industries (ROCK) Stock Rating Upgraded by Zacks Investment Research
According to Zacks, “Gibraltar’s first-quarter 2019 earnings missed analysts’ expectation by 12.5%, while revenues beat the same by 2%. On a year-over-year basis, the top and bottom lines improved 5.6% and 7.7%, respectively. The upside was backed by solid demand for innovative products, improved activities in Infrastructure business and enduring benefits from 80/20 simplification initiatives. However, margins in the Residential Products, and Renewable Energy and Conservation businesses remained pressurized due to certain incremental costs, lower volumes and seasonal impacts. Shares of Gibraltar have underperformed its industry so far this year. Earnings estimates for 2019 have also moved south over the past 30 days, depicting analyst's concern surrounding the stock.”
Separately, BidaskClub upgraded Gibraltar Industries from a “sell” rating to a “hold” rating in a research report on Monday, February 4th.
Gibraltar Industries (NASDAQ:ROCK) last released its earnings results on Friday, May 3rd. The construction company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The firm had revenue of $227.40 million for the quarter, compared to the consensus estimate of $221.73 million. Gibraltar Industries had a return on equity of 12.04% and a net margin of 6.09%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 EPS. On average, equities research analysts predict that Gibraltar Industries will post 2.47 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Gibraltar Industries by 11.3% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,681,443 shares of the construction company’s stock valued at $59,842,000 after purchasing an additional 170,388 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Gibraltar Industries by 2.9% in the third quarter. Bank of New York Mellon Corp now owns 401,033 shares of the construction company’s stock valued at $18,288,000 after purchasing an additional 11,404 shares during the last quarter. Anchor Capital Advisors LLC increased its holdings in Gibraltar Industries by 6.8% in the fourth quarter. Anchor Capital Advisors LLC now owns 57,089 shares of the construction company’s stock valued at $2,032,000 after purchasing an additional 3,655 shares during the last quarter. Bank of America Corp DE increased its holdings in Gibraltar Industries by 32.4% in the fourth quarter. Bank of America Corp DE now owns 263,304 shares of the construction company’s stock valued at $9,370,000 after purchasing an additional 64,434 shares during the last quarter. Finally, AQR Capital Management LLC bought a new stake in Gibraltar Industries in the third quarter valued at about $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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