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

Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) gapped down prior to trading on Friday . The stock had previously closed at $70.16, but opened at $64.54. Gibraltar Industries shares last traded at $66.73, with a volume of 50,420 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 2nd.

Gibraltar Industries Stock Down 4.3 %

The firm’s 50 day simple moving average is $68.03 and its 200 day simple moving average is $71.41. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 17.81 and a beta of 1.14.

Gibraltar Industries (NASDAQ:ROCK) last announced its earnings results on Wednesday, July 31st. The construction company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.08). Gibraltar Industries had a net margin of 8.49% and a return on equity of 13.91%. The business had revenue of $353.00 million for the quarter, compared to the consensus estimate of $373.60 million. During the same period in the previous year, the firm earned $1.18 EPS. The firm’s revenue was down 3.3% on a year-over-year basis. Analysts anticipate that Gibraltar Industries, Inc. will post 4.6 EPS for the current fiscal year.

Institutional Trading of Gibraltar Industries

A number of institutional investors have recently made changes to their positions in ROCK. Vanguard Group Inc. lifted its position in Gibraltar Industries by 2.2% in the fourth 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. HighPoint Advisor Group LLC acquired a new stake in shares of Gibraltar Industries in the fourth quarter valued at $219,000. Contravisory Investment Management Inc. boosted its stake in Gibraltar Industries by 1,755.2% during the first quarter. Contravisory Investment Management Inc. now owns 3,228 shares of the construction company’s stock valued at $260,000 after buying an additional 3,054 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in Gibraltar Industries by 49.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 12,099 shares of the construction company’s stock worth $974,000 after acquiring an additional 4,008 shares during the period. Finally, Principal Financial Group Inc. raised its position in Gibraltar Industries by 1.5% in the first quarter. Principal Financial Group Inc. now owns 168,582 shares of the construction company’s stock worth $13,576,000 after acquiring an additional 2,526 shares in the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

Gibraltar Industries Company Profile

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.