Gibraltar Industries (NASDAQ:ROCK) Sets New 1-Year High at $64.76

Posted by Defense World Staff on Aug 2nd, 2023

Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK – Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $64.76 and last traded at $64.62, with a volume of 10078 shares trading hands. The stock had previously closed at $63.45.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Gibraltar Industries in a research note on Thursday, May 18th. They set a “buy” rating for the company.

Gibraltar Industries Stock Up 2.5 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.79 and a quick ratio of 1.07. The company has a market cap of $2.02 billion, a P/E ratio of 23.93 and a beta of 1.16. The stock has a 50-day moving average of $59.86 and a 200 day moving average of $54.41.

Gibraltar Industries (NASDAQ:ROCK – Get Free Report) last released its quarterly earnings data on Wednesday, May 3rd. The construction company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.08. Gibraltar Industries had a return on equity of 13.43% and a net margin of 6.45%. The business had revenue of $293.27 million for the quarter, compared to analyst estimates of $298.90 million. During the same period last year, the firm posted $0.60 earnings per share. Gibraltar Industries’s revenue was down 7.7% compared to the same quarter last year. Research analysts anticipate that Gibraltar Industries, Inc. will post 3.56 earnings per share for the current year.

Insider Buying and Selling

In related news, Director James B. Nish sold 4,963 shares of Gibraltar Industries stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $56.69, for a total value of $281,352.47. Following the transaction, the director now directly owns 11,976 shares of the company’s stock, valued at $678,919.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Gibraltar Industries

Hedge funds have recently added to or reduced their stakes in the business. Schroder Investment Management Group increased its holdings in Gibraltar Industries by 3.8% in the fourth quarter. Schroder Investment Management Group now owns 842,106 shares of the construction company’s stock worth $38,636,000 after purchasing an additional 31,157 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Gibraltar Industries by 44.2% during the first quarter. Victory Capital Management Inc. now owns 2,026,373 shares of the construction company’s stock valued at $98,279,000 after acquiring an additional 620,995 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Gibraltar Industries by 43.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 510,809 shares of the construction company’s stock valued at $23,436,000 after acquiring an additional 155,123 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Gibraltar Industries by 26.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,803 shares of the construction company’s stock valued at $266,000 after acquiring an additional 1,196 shares in the last quarter. Finally, GW&K Investment Management LLC increased its holdings in shares of Gibraltar Industries by 10.2% during the fourth quarter. GW&K Investment Management LLC now owns 1,053,951 shares of the construction company’s stock valued at $48,355,000 after acquiring an additional 97,229 shares in the last quarter. 99.28% of the stock is currently owned by institutional investors.

About Gibraltar Industries

(Get Free Report)

Gibraltar Industries, Inc manufactures and distributes building products for the renewable energy, residential, agtech, and infrastructure markets in North America and Asia. 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.