Gibraltar Industries (NASDAQ:ROCK) Hits New 1-Year Low – Here’s What Happened

Gibraltar Industries, Inc. (NASDAQ:ROCK)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $58.28 and last traded at $58.67, with a volume of 205691 shares changing hands. The stock had previously closed at $59.22.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 21st.

Gibraltar Industries Stock Performance

The firm has a market capitalization of $1.78 billion, a P/E ratio of 16.30 and a beta of 1.15. The firm has a 50 day moving average price of $68.11 and a two-hundred day moving average price of $69.15.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.01. The business had revenue of $361.20 million during the quarter, compared to analyst estimates of $360.43 million. Gibraltar Industries had a return on equity of 13.13% and a net margin of 8.28%. Gibraltar Industries’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter last year, the company posted $1.38 EPS. Equities research analysts forecast that Gibraltar Industries, Inc. will post 4.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gibraltar Industries

Several hedge funds have recently made changes to their positions in ROCK. Texas Permanent School Fund Corp grew its position in Gibraltar Industries by 27.7% during the 2nd quarter. Texas Permanent School Fund Corp now owns 34,006 shares of the construction company’s stock worth $2,331,000 after purchasing an additional 7,369 shares in the last quarter. Intech Investment Management LLC acquired a new position in Gibraltar Industries during the second quarter valued at $770,000. FMR LLC lifted its stake in Gibraltar Industries by 1,663.5% in the 3rd quarter. FMR LLC now owns 726,667 shares of the construction company’s stock worth $50,816,000 after acquiring an additional 685,462 shares in the last quarter. Geode Capital Management LLC boosted its position in Gibraltar Industries by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 838,932 shares of the construction company’s stock worth $58,676,000 after acquiring an additional 32,950 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Gibraltar Industries during the 3rd quarter valued at about $792,000. Hedge funds and other institutional investors 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.