Gibraltar Industries (NASDAQ:ROCK) Sets New 1-Year Low - Here's What Happened

Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $53.63 and last traded at $54.23, with a volume of 104050 shares traded. The stock had previously closed at $59.09.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Gibraltar Industries from a "buy" rating to a "strong-buy" rating in a research report on Thursday, February 20th.

Gibraltar Industries Trading Down 0.2 %

The company's 50-day simple moving average is $61.61 and its 200-day simple moving average is $64.77. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 11.49 and a beta of 1.22.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The construction company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.06. Gibraltar Industries had a return on equity of 13.19% and a net margin of 10.49%. The firm had revenue of $302.06 million for the quarter, compared to analyst estimates of $307.93 million. During the same quarter in the previous year, the company posted $0.85 EPS. The business's revenue was down 8.1% on a year-over-year basis. On average, equities research analysts expect that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC raised its stake in Gibraltar Industries by 645.1% during the fourth quarter. Sterling Capital Management LLC now owns 529 shares of the construction company's stock worth $31,000 after buying an additional 458 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Gibraltar Industries by 296.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 709 shares of the construction company's stock worth $42,000 after acquiring an additional 530 shares during the period. Atticus Wealth Management LLC bought a new position in shares of Gibraltar Industries in the 4th quarter worth about $53,000. KBC Group NV lifted its stake in shares of Gibraltar Industries by 50.2% in the 4th quarter. KBC Group NV now owns 1,436 shares of the construction company's stock valued at $85,000 after purchasing an additional 480 shares during the period. Finally, Quarry LP boosted its position in shares of Gibraltar Industries by 41.5% during the 4th quarter. Quarry LP now owns 1,865 shares of the construction company's stock valued at $110,000 after purchasing an additional 547 shares in the last quarter. Institutional investors and hedge funds own 98.39% of the company's stock.

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.