Gibraltar Industries (NASDAQ:ROCK) Hits New 1-Year Low – Here’s What Happened

Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) reached a new 52-week low on Tuesday . The stock traded as low as $57.83 and last traded at $58.10, with a volume of 30230 shares traded. The stock had previously closed at $59.08.

Analysts Set New Price Targets

Separately, StockNews.com raised Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 31st.

Gibraltar Industries Stock Down 1.5 %

The firm’s 50-day simple moving average is $67.30 and its 200 day simple moving average is $68.65. The firm has a market cap of $1.77 billion, a P/E ratio of 16.17 and a beta of 1.19.

Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.01. The business had revenue of $361.20 million during the quarter, compared to analyst estimates of $360.43 million. Gibraltar Industries had a return on equity of 13.13% and a net margin of 8.28%. During the same period in the prior year, the company earned $1.38 earnings per share. Gibraltar Industries’s revenue was down 7.6% compared to the same quarter last year. As a group, analysts forecast that Gibraltar Industries, Inc. will post 4.18 earnings per share for the current year.

Institutional Investors Weigh In On Gibraltar Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC lifted its holdings in Gibraltar Industries by 67.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 7,533 shares of the construction company’s stock worth $516,000 after purchasing an additional 3,029 shares in the last quarter. TD Asset Management Inc grew its stake in Gibraltar Industries by 18.6% during the second quarter. TD Asset Management Inc now owns 12,100 shares of the construction company’s stock valued at $829,000 after acquiring an additional 1,900 shares in the last quarter. Arizona State Retirement System increased its holdings in Gibraltar Industries by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 8,523 shares of the construction company’s stock worth $584,000 after acquiring an additional 158 shares during the period. Gallacher Capital Management LLC purchased a new stake in Gibraltar Industries in the 2nd quarter worth approximately $301,000. Finally, Acadian Asset Management LLC bought a new position in Gibraltar Industries in the 2nd quarter valued at $444,000. Institutional investors own 98.39% of the company’s stock.

About Gibraltar Industries

Gibraltar Industries, Inc manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. It operates through four segments: Renewables, Residential, Agtech, and Infrastructure. The Renewables segment designs, engineers, manufactures, and installs solar racking and electrical balance of systems for commercial and distributed generation scale solar installations.