Gibraltar Industries' (NASDAQ:ROCK) EPS Estimates, PT Lowered

While Jefferies sees improvement with Gibraltar Industries (NASDAQ:ROCK), they lowered their price target and EPS estimates on the company based on operational improvements and stronger financial position.

Jefferies said, "Gibraltar Industries manufactures and distributes various building products to North American and European markets. We believe the company's reduced cost structure, strengthened financial position, and improving operating efficiency will drive operating leverage as residential and non-residential markets modestly rebound."

EPS estimates for full year 2010 were lowered from $0.30 to $0.05, and for full year 2011 from $1.00 to $0.50. Revenue estimates for full year 2010 were dropped from $712.8 million to $680 million, and for full year 2011 from $809.8 million to $748 million.

Jefferies reiterated their "Buy" rating on Gibraltar Industries, which closed Wednesday at $10.79, up $0.06, or 0.56 percent. They lowered their price target on them from $16 to $13.