KeyBanc Downgrades Gibraltar Industries (ROCK) to Hold on Valuation

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KeyBanc downgraded Gibraltar Industries (NASDAQ: ROCK) from Buy to Hold on valuation.

The firm comments, "Gibraltar Industries' (ROCK-NASDAQ) cyclical residential and secular industrial exposure offers investors attractive growth prospects, but we are downgrading the stock from BUY to HOLD on full valuation at 19.6x P/E and 6.2 EV/EBITDA on our 2013 estimates. We believe ROCK's portfolio of businesses represents a differentiated angle on both residential/industrial recoveries with M&A upside a possibility, but at current valuations, we await greater clarity into 2013."

For an analyst ratings summary and ratings history on Gibraltar Industries click here. For more ratings news on Gibraltar Industries click here.

Shares of Gibraltar Industries closed at $13.74 yesterday, with a 52 week range of $9.03-$17.44.

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