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

Gibraltar Industries, Inc. (NASDAQ:ROCK)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $53.63 and last traded at $54.23, with a volume of 104050 shares traded. The stock had previously closed at $59.09.

Analyst Upgrades and Downgrades

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

Gibraltar Industries Stock Down 9.4 %

The company’s 50-day moving average is $62.60 and its 200-day moving average is $65.46. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 11.97 and a beta of 1.20.

Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings results on Wednesday, February 19th. The construction company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.95 by $0.06. The business had revenue of $302.06 million for the quarter, compared to analyst estimates of $307.93 million. Gibraltar Industries had a return on equity of 13.19% and a net margin of 10.49%. The company’s quarterly revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.85 EPS. Sell-side analysts anticipate that Gibraltar Industries, Inc. will post 4.91 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its holdings in Gibraltar Industries by 645.1% during the 4th quarter. Sterling Capital Management LLC now owns 529 shares of the construction company’s stock worth $31,000 after buying an additional 458 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Gibraltar Industries by 296.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 709 shares of the construction company’s stock valued at $42,000 after acquiring an additional 530 shares in the last quarter. Atticus Wealth Management LLC acquired a new position in Gibraltar Industries during the 4th quarter worth $53,000. KBC Group NV increased its holdings in Gibraltar Industries by 50.2% during the 4th quarter. KBC Group NV now owns 1,436 shares of the construction company’s stock worth $85,000 after purchasing an additional 480 shares during the period. Finally, Quarry LP raised its position in Gibraltar Industries by 33.3% in the 3rd quarter. Quarry LP now owns 1,318 shares of the construction company’s stock valued at $92,000 after purchasing an additional 329 shares in the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

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.