Gibraltar Industries (NASDAQ:ROCK) Shares Down 5.3% – Here’s What Happened

Gibraltar Industries, Inc. (NASDAQ:ROCK) traded down 5.3% on Friday . The company traded as low as $61.55 and last traded at $60.76. 84,086 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 182,054 shares. The stock had previously closed at $64.14.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 20th.

Gibraltar Industries Price Performance

The business has a fifty day simple moving average of $62.71 and a 200 day simple moving average of $65.77. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 13.62 and a beta of 1.20.

Gibraltar Industries (NASDAQ:ROCK) last announced its earnings results on Wednesday, February 19th. The construction company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. Gibraltar Industries had a return on equity of 13.19% and a net margin of 10.49%. The business had revenue of $302.06 million during the quarter, compared to analysts’ expectations of $307.93 million. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The business’s revenue was down 8.1% compared to the same quarter last year. On average, research analysts anticipate that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gibraltar Industries

Hedge funds have recently made changes to their positions in the company. Atria Investments Inc grew its position in shares of Gibraltar Industries by 14.8% in the third quarter. Atria Investments Inc now owns 4,085 shares of the construction company’s stock valued at $286,000 after purchasing an additional 528 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Gibraltar Industries by 44.0% in the third quarter. Intech Investment Management LLC now owns 16,169 shares of the construction company’s stock valued at $1,131,000 after purchasing an additional 4,943 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Gibraltar Industries by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 410,781 shares of the construction company’s stock valued at $28,726,000 after purchasing an additional 19,614 shares in the last quarter. Citigroup Inc. grew its position in shares of Gibraltar Industries by 29.5% in the third quarter. Citigroup Inc. now owns 58,768 shares of the construction company’s stock valued at $4,110,000 after purchasing an additional 13,392 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Gibraltar Industries in the third quarter valued at approximately $792,000. 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.