Gibraltar Industries (NASDAQ:ROCK) Shares Gap Up to $71.46

Gibraltar Industries, Inc. (NASDAQ:ROCK - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $71.46, but opened at $75.00. Gibraltar Industries shares last traded at $72.10, with a volume of 11,847 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Gibraltar Industries from a "buy" rating to a "strong-buy" rating in a research note on Monday.

Gibraltar Industries Price Performance

The business's fifty day moving average price is $75.98 and its two-hundred day moving average price is $74.85. The stock has a market capitalization of $2.10 billion, a PE ratio of 19.48 and a beta of 1.17.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The construction company reported $0.85 EPS for the quarter, missing analysts' consensus estimates of $0.86 by ($0.01). The firm had revenue of $328.80 million for the quarter, compared to analyst estimates of $331.40 million. Gibraltar Industries had a return on equity of 14.50% and a net margin of 8.02%. The business's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 EPS. As a group, equities research analysts anticipate that Gibraltar Industries, Inc. will post 4.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gibraltar Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. boosted its holdings in shares of Gibraltar Industries by 122.0% in the 4th quarter. Pacer Advisors Inc. now owns 820,031 shares of the construction company's stock valued at $64,766,000 after acquiring an additional 450,665 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Gibraltar Industries by 182.7% in the third quarter. Assenagon Asset Management S.A. now owns 335,518 shares of the construction company's stock valued at $22,651,000 after purchasing an additional 216,818 shares during the last quarter. Invesco Ltd. grew its position in Gibraltar Industries by 72.2% during the 3rd quarter. Invesco Ltd. now owns 245,220 shares of the construction company's stock worth $16,555,000 after purchasing an additional 102,848 shares during the period. Vanguard Group Inc. grew its position in Gibraltar Industries by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 2,819,914 shares of the construction company's stock worth $222,717,000 after purchasing an additional 60,950 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Gibraltar Industries by 9.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 634,595 shares of the construction company's stock valued at $50,120,000 after buying an additional 56,126 shares during the last quarter. Institutional investors and hedge funds 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.