Gibraltar Industries (NASDAQ:ROCK) Reaches New 12-Month Low – Here’s Why

Gibraltar Industries, Inc. (NASDAQ:ROCK) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $61.56 and last traded at $61.72, with a volume of 110134 shares. The stock had previously closed at $64.86.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 13th.

Gibraltar Industries Trading Up 0.0 %

The stock’s fifty day moving average price is $68.99 and its 200 day moving average price is $69.64. The stock has a market cap of $1.84 billion, a P/E ratio of 16.84 and a beta of 1.15.

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, topping analysts’ consensus estimates of $1.26 by $0.01. The company had revenue of $361.20 million during the quarter, compared to analyst estimates of $360.43 million. Gibraltar Industries had a net margin of 8.28% and a return on equity of 13.13%. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.38 EPS. As a group, sell-side analysts forecast that Gibraltar Industries, Inc. will post 4.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ROCK. SG Americas Securities LLC purchased a new stake in Gibraltar Industries during the second quarter valued at $404,000. Louisiana State Employees Retirement System boosted its position in Gibraltar Industries by 1.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 15,300 shares of the construction company’s stock valued at $1,049,000 after buying an additional 200 shares during the period. Innealta Capital LLC bought a new stake in Gibraltar Industries during the 2nd quarter valued at $39,000. Commonwealth Equity Services LLC lifted its stake in Gibraltar Industries by 67.3% in the second quarter. Commonwealth Equity Services LLC now owns 7,533 shares of the construction company’s stock worth $516,000 after acquiring an additional 3,029 shares during the period. Finally, nVerses Capital LLC bought a new position in shares of Gibraltar Industries during the second quarter valued at approximately $55,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

Gibraltar Industries Company Profile

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.