Gibraltar Industries (NASDAQ:ROCK) Sets New 1-Year High - Here's What Happened

Key Points

• Gibraltar Industries' share price reached a new 52-week high of $75.08, before closing at $73.67, with a trading volume of 66,645 shares.
• Recent analyst ratings have been mixed, with Zacks Research downgrading the stock from a "hold" to a "strong sell," while Weiss Ratings maintained a "hold (c)" rating.
• The company reported earnings of $1.13 per share for its last quarter, missing analyst expectations, with total revenue of $309.5 million compared to estimated revenues of $381.4 million.

Gibraltar Industries, Inc. (NASDAQ:ROCK - Get Free Report)'s share price hit a new 52-week high on Wednesday . The stock traded as high as $75.08 and last traded at $73.67, with a volume of 66645 shares trading hands. The stock had previously closed at $74.58.

Wall Street Analyst Weigh In

ROCK has been the topic of a number of recent analyst reports. Zacks Research lowered Gibraltar Industries from a "hold" rating to a "strong sell" rating in a research report on Monday, September 29th. Weiss Ratings reissued a "hold (c)" rating on shares of Gibraltar Industries in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded Gibraltar Industries from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Reduce".

Gibraltar Industries Trading Down 4.0%

The firm has a fifty day simple moving average of $63.36 and a 200 day simple moving average of $60.61. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 1.11 and a beta of 1.30.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The construction company reported $1.13 earnings per share for the quarter, missing analysts' consensus estimates of $1.16 by ($0.03). Gibraltar Industries had a net margin of 10.08% and a return on equity of 12.91%. The business had revenue of $309.50 million for the quarter, compared to analyst estimates of $381.40 million. During the same period in the prior year, the business earned $1.18 earnings per share. The company's revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities analysts expect that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of Gibraltar Industries by 30.6% in the 1st quarter. Wellington Management Group LLP now owns 2,012,178 shares of the construction company's stock worth $118,034,000 after purchasing an additional 471,108 shares during the last quarter. Nuveen LLC bought a new position in shares of Gibraltar Industries in the 1st quarter worth $20,694,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Gibraltar Industries by 57.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 479,894 shares of the construction company's stock worth $28,151,000 after purchasing an additional 175,769 shares during the last quarter. Ancora Advisors LLC lifted its holdings in Gibraltar Industries by 204.4% during the first quarter. Ancora Advisors LLC now owns 191,688 shares of the construction company's stock worth $11,244,000 after acquiring an additional 128,721 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Gibraltar Industries by 68.7% during the first quarter. Invesco Ltd. now owns 250,865 shares of the construction company's stock worth $14,716,000 after acquiring an additional 102,150 shares in the last quarter. 98.39% of the stock is currently owned by institutional investors.

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.

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