Gibraltar Industries, Inc. (NASDAQ:ROCK) Sees Significant Growth in Short Interest

Gibraltar Industries, Inc. (NASDAQ:ROCK) was the target of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 389,400 shares, an increase of 41.0% from the February 13th total of 276,200 shares. Based on an average daily volume of 247,100 shares, the short-interest ratio is currently 1.6 days. Approximately 1.3% of the shares of the company are sold short.

Gibraltar Industries Stock Performance

ROCK traded up $2.26 during midday trading on Friday, reaching $65.43. The company had a trading volume of 329,085 shares, compared to its average volume of 180,542. The business has a 50-day moving average price of $62.09 and a two-hundred day moving average price of $65.91. Gibraltar Industries has a 12-month low of $55.31 and a 12-month high of $81.90. The stock has a market cap of $1.99 billion, a PE ratio of 14.64 and a beta of 1.20.

Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings data on Wednesday, February 19th. The construction company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.06. The business had revenue of $302.06 million during 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%. Gibraltar Industries’s revenue was down 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 earnings per share. On average, research analysts anticipate that Gibraltar Industries will post 4.91 earnings per share for the current year.

Institutional Investors Weigh In On Gibraltar Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. PharVision Advisers LLC purchased a new stake in Gibraltar Industries during the 4th quarter worth about $423,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Gibraltar Industries by 4.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,581 shares of the construction company’s stock worth $4,570,000 after buying an additional 3,650 shares in the last quarter. Systematic Financial Management LP lifted its holdings in shares of Gibraltar Industries by 4.8% in the fourth quarter. Systematic Financial Management LP now owns 115,910 shares of the construction company’s stock worth $6,827,000 after buying an additional 5,275 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Gibraltar Industries by 37.4% in the fourth quarter. ProShare Advisors LLC now owns 10,356 shares of the construction company’s stock valued at $610,000 after acquiring an additional 2,819 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in Gibraltar Industries by 6.6% during the fourth quarter. Nuveen Asset Management LLC now owns 364,410 shares of the construction company’s stock valued at $21,464,000 after acquiring an additional 22,638 shares in the last quarter. Institutional investors own 98.39% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.