UPDATE: KeyBanc Upgrades Gibraltar Industries (ROCK) to Overweight on Successful Diversification and Valuation

July 30, 2021 5:26 AM EDT
Get Alerts ROCK Hot Sheet
Price: $68.86 +0.61%

Rating Summary:
    4 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 6 | Down: 13 | New: 24
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(Updated - July 30, 2021 7:51 AM EDT)

KeyBanc analyst Kenneth Zener upgraded Gibraltar Industries (NASDAQ: ROCK) from Sector Weight to Overweight with a price target of $85.00. Gilbraltor's pivot into higher growth, nascent Solar and Conservation markets (38% of FY21 EBIT) where its services are unknown or defined as the industry matures offers a unique company narrative.

The analyst stated "with its valuation reset, creating a compelling risk-reward outlook, in our view, with growth likely compensating for known concerns (steel inflation, solar growth) prospectively. Around growth, we think ROCK’s reformed portfolio (EBIT Mix: 57% Residential,
30% Solar, 8% AgTech, 4% Industrial) is overlooked by investors, with M&A catalyst(s) likely given its low leverage."

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 $73.80 yesterday.


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