Gibraltar Industries (NASDAQ:ROCK) Sets New 52-Week Low – What’s Next?

Gibraltar Industries, Inc. (NASDAQ:ROCK)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $59.52 and last traded at $60.37, with a volume of 39125 shares traded. The stock had previously closed at $60.27.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday.

Gibraltar Industries Stock Performance

The company has a market capitalization of $1.82 billion, a PE ratio of 16.67 and a beta of 1.15. The stock’s fifty day simple moving average is $68.69 and its 200-day simple moving average is $69.43.

Gibraltar Industries (NASDAQ:ROCK) last announced its earnings results on Wednesday, October 30th. The construction company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.01. The firm had revenue of $361.20 million for the quarter, compared to analyst estimates of $360.43 million. Gibraltar Industries had a net margin of 8.28% and a return on equity of 13.13%. Gibraltar Industries’s revenue was down 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.38 earnings per share. On average, equities analysts anticipate that Gibraltar Industries, Inc. will post 4.18 EPS for the current year.

Institutional Trading of Gibraltar Industries

A number of hedge funds have recently added to or reduced their stakes in ROCK. Franklin Resources Inc. grew its stake in shares of Gibraltar Industries by 8.2% during the 3rd quarter. Franklin Resources Inc. now owns 5,874 shares of the construction company’s stock valued at $401,000 after buying an additional 445 shares during the period. Geode Capital Management LLC raised its holdings in shares of Gibraltar Industries by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 838,932 shares of the construction company’s stock worth $58,676,000 after purchasing an additional 32,950 shares during the period. Barclays PLC raised its holdings in shares of Gibraltar Industries by 93.8% in the 3rd quarter. Barclays PLC now owns 103,324 shares of the construction company’s stock worth $7,226,000 after purchasing an additional 50,017 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in shares of Gibraltar Industries by 5.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 10,002 shares of the construction company’s stock worth $699,000 after purchasing an additional 484 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Gibraltar Industries during the 3rd quarter worth approximately $534,000. 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.