Coker Palmer calls Gibraltar 'exceptional' short at these levels
Coker Palmer analyst Brad Meikle says the risk/reward in shorting Gibraltar Industries is "exceptional right now." The analyst notes the company avoided his question on a conference call over whether it had Black & Veatch certification for its beta-tracker. This means the company doesn't have the certification, Meikle tells investors in an intraday research note. He believes it takes two-to-three years after having a certification to get any real orders. Nextracker, ATI and Arc Tech have too big of a lead in trackers to catch up, the analyst contends. Further, Meikle calls aspects of Gibraltar's accounting "highly questionable." The analyst sees $15 as fair value for the shares. The manufacturer and distributor of building products is down 30c to $30.85 in afternoon trading.