Short Interest in Gibraltar Industries, Inc. (NASDAQ:ROCK) Expands By 37.0%

Gibraltar Industries, Inc. (NASDAQ:ROCK) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 533,400 shares, an increase of 37.0% from the February 28th total of 389,400 shares. Approximately 1.8% of the shares of the stock are short sold. Based on an average daily volume of 286,800 shares, the days-to-cover ratio is currently 1.9 days.

Wall Street Analysts Forecast Growth

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 Trading Down 5.1 %

Shares of Gibraltar Industries stock opened at $58.73 on Monday. Gibraltar Industries has a 52 week low of $55.31 and a 52 week high of $81.90. The company’s 50-day moving average price is $62.83 and its two-hundred day moving average price is $65.64. The stock has a market cap of $1.74 billion, a PE ratio of 13.15 and a beta of 1.20.

Gibraltar Industries (NASDAQ:ROCK) last issued its earnings results on Wednesday, February 19th. The construction company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The firm had revenue of $302.06 million during the quarter, compared to analysts’ expectations of $307.93 million. Gibraltar Industries had a net margin of 10.49% and a return on equity of 13.19%. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. On average, equities analysts predict that Gibraltar Industries will post 4.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Gibraltar Industries

Hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC lifted its holdings in shares of Gibraltar Industries by 645.1% during the fourth quarter. Sterling Capital Management LLC now owns 529 shares of the construction company’s stock valued at $31,000 after purchasing an additional 458 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Gibraltar Industries by 296.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 709 shares of the construction company’s stock valued at $42,000 after buying an additional 530 shares in the last quarter. Atticus Wealth Management LLC purchased a new stake in Gibraltar Industries during the fourth quarter valued at about $53,000. KBC Group NV boosted its holdings in shares of Gibraltar Industries by 50.2% in the fourth quarter. KBC Group NV now owns 1,436 shares of the construction company’s stock worth $85,000 after buying an additional 480 shares during the period. Finally, Quarry LP increased its position in shares of Gibraltar Industries by 33.3% in the third quarter. Quarry LP now owns 1,318 shares of the construction company’s stock worth $92,000 after acquiring an additional 329 shares in the last quarter. 98.39% of the stock is currently 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.