Gibraltar Industries (NASDAQ:ROCK) Reaches New 12-Month Low Following Weak Earnings

Key Points

• Gibraltar Industries shares fell 15.5% after weak earnings, touching a new 52-week low of $32.07; the stock had closed at $43.58 the previous session.
• The company reported quarterly EPS of $1.01, missing the $1.20 consensus, and revenue of $479.57 million, below the $487.57 million estimate. Revenue nevertheless rose 54.2% year over year, while EPS declined from $1.14.
• Analyst views are mixed: MarketBeat reports an overall “Moderate Buy” rating, while Weiss Ratings reaffirmed a “sell” rating.

Gibraltar Industries, Inc. (NASDAQ:ROCK - Get Free Report) hit a new 52-week low during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $32.07 and last traded at $36.0340, with a volume of 260,588 shares. The stock had previously closed at $43.58.

The construction company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.19). Gibraltar Industries had a negative net margin of 10.43% and a positive return on equity of 11.23%. The business had revenue of $479.57 million for the quarter, compared to analysts' expectations of $487.57 million. During the same quarter in the previous year, the business posted $1.14 earnings per share. Gibraltar Industries's revenue for the quarter was up 54.2% on a year-over-year basis.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Gibraltar Industries in a research note on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy".

Institutional Trading of Gibraltar Industries

Several institutional investors have recently made changes to their positions in ROCK. BlackRock Inc. bought a new position in shares of Gibraltar Industries during the 2nd quarter valued at approximately $221,886,000. Dimensional Fund Advisors LP grew its holdings in shares of Gibraltar Industries by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,705,997 shares of the construction company's stock valued at $68,018,000 after purchasing an additional 7,251 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Gibraltar Industries in the second quarter worth $44,420,000. First Wilshire Securities Management Inc. increased its position in Gibraltar Industries by 287.7% in the first quarter. First Wilshire Securities Management Inc. now owns 499,923 shares of the construction company's stock worth $19,932,000 after purchasing an additional 370,985 shares during the last quarter. Finally, Segall Bryant & Hamill LLC raised its stake in Gibraltar Industries by 21.9% during the first quarter. Segall Bryant & Hamill LLC now owns 430,995 shares of the construction company's stock valued at $17,184,000 after purchasing an additional 77,440 shares in the last quarter. Hedge funds and other institutional investors own 98.39% of the company's stock.

Gibraltar Industries Trading Down 15.5%

The company has a market cap of $1.09 billion, a PE ratio of -7.31, a P/E/G ratio of 0.71 and a beta of 1.30. The stock's 50 day moving average is $41.34 and its 200-day moving average is $43.09. The company has a quick ratio of 0.91, a current ratio of 1.46 and a debt-to-equity ratio of 1.37.

About Gibraltar Industries

Gibraltar Industries, Inc is a Buffalo, New York-based manufacturer of products and services used in the construction, renewable energy, infrastructure and controlled-environment agriculture markets. The company serves residential and commercial builders, contractors, utilities, solar developers, growers and other industrial customers.

Its products include roofing and ventilation components, solar racking and mounting systems, greenhouse structures and related growing systems, and engineered products for infrastructure and industrial applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.