Gulf Island Fabrication (NASDAQ:GIFI) Earns "Hold (C-)" Rating from Weiss Ratings

Key Points

• Gulf Island Fabrication's stock has been given a "hold (C-)" rating by Weiss Ratings, indicating a cautious outlook for investors.
• The company reported $0.07 earnings per share, falling short of the expected $0.12, while revenue for the quarter was $37.54 million, surpassing estimates.
• Institutional investors now own 46.40% of Gulf Island Fabrication's stock, with several hedge funds increasing their stakes in the second quarter.

Gulf Island Fabrication (NASDAQ:GIFI - Get Free Report)'s stock had its "hold (c-)" rating restated by equities researchers at Weiss Ratings in a note issued to investors on Tuesday,Weiss Ratings reports.

Gulf Island Fabrication Price Performance

GIFI stock traded down $0.01 during midday trading on Tuesday, hitting $7.26. 55,169 shares of the stock were exchanged, compared to its average volume of 45,223. The stock's 50-day moving average price is $7.08 and its 200-day moving average price is $6.79. The stock has a market cap of $116.30 million, a price-to-earnings ratio of 12.30 and a beta of 0.33. Gulf Island Fabrication has a fifty-two week low of $5.12 and a fifty-two week high of $7.88. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.51 and a current ratio of 4.63.

Gulf Island Fabrication (NASDAQ:GIFI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.05). The firm had revenue of $37.54 million for the quarter, compared to analyst estimates of $35.50 million. Gulf Island Fabrication had a return on equity of 12.59% and a net margin of 6.45%.

Hedge Funds Weigh In On Gulf Island Fabrication

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bridgeway Capital Management LLC raised its holdings in shares of Gulf Island Fabrication by 1.9% in the second quarter. Bridgeway Capital Management LLC now owns 118,849 shares of the oil and gas company's stock worth $790,000 after acquiring an additional 2,257 shares during the last quarter. First Wilshire Securities Management Inc. raised its holdings in shares of Gulf Island Fabrication by 4.1% in the second quarter. First Wilshire Securities Management Inc. now owns 1,019,169 shares of the oil and gas company's stock worth $6,777,000 after acquiring an additional 40,556 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Gulf Island Fabrication in the second quarter worth $72,000. Truffle Hound Capital LLC acquired a new position in shares of Gulf Island Fabrication in the second quarter worth $1,164,000. Finally, Bailard Inc. acquired a new position in shares of Gulf Island Fabrication in the second quarter worth $237,000. 46.40% of the stock is owned by institutional investors and hedge funds.

About Gulf Island Fabrication

Gulf Island Fabrication, Inc, together with its subsidiaries, operates as a fabricator of steel structures and modules in the United States. It operates through Services, Fabrication, and Shipyard divisions. The company provides maintenance, repair, construction, scaffolding, coatings, welding enclosures, and other specialty services on offshore platforms, inland structures, and industrial facilities; services required to connect production equipment and service modules, and equipment on offshore platforms; project management and commissioning services; hookup services; and civil construction and staffing services to the industrial and energy sectors, as well as undertakes municipal and drainage projects, including pump stations, levee reinforcement, bulkheads, and other public works.

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