Gibraltar Industries (NASDAQ:ROCK) Stock Price Down 5.3% - Should You Sell?

Gibraltar Industries, Inc. (NASDAQ:ROCK - Get Free Report) shares traded down 5.3% during mid-day trading on Friday . The company traded as low as $61.55 and last traded at $60.76. 84,086 shares were traded during mid-day trading, a decline of 54% from the average session volume of 182,054 shares. The stock had previously closed at $64.14.

Analysts Set New Price Targets

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 Price Performance

The company has a market cap of $1.92 billion, a price-to-earnings ratio of 14.12 and a beta of 1.20. The business has a 50 day simple moving average of $62.82 and a 200 day simple moving average of $65.75.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last issued its earnings results on Wednesday, February 19th. The construction company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.95 by $0.06. Gibraltar Industries had a net margin of 10.49% and a return on equity of 13.19%. The company had revenue of $302.06 million during the quarter, compared to analysts' expectations of $307.93 million. During the same quarter in the previous year, the company posted $0.85 EPS. The business's revenue for the quarter was down 8.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Gibraltar Industries, Inc. will post 4.91 earnings per share for the current fiscal year.

Remove Ads

Institutional Trading of Gibraltar Industries

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC grew its holdings in Gibraltar Industries by 44.0% during the third quarter. Intech Investment Management LLC now owns 16,169 shares of the construction company's stock valued at $1,131,000 after purchasing an additional 4,943 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Gibraltar Industries by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,781 shares of the construction company's stock valued at $28,726,000 after buying an additional 19,614 shares in the last quarter. Citigroup Inc. raised its stake in Gibraltar Industries by 29.5% during the 3rd quarter. Citigroup Inc. now owns 58,768 shares of the construction company's stock worth $4,110,000 after buying an additional 13,392 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Gibraltar Industries during the third quarter worth about $792,000. Finally, FMR LLC grew its stake in Gibraltar Industries by 1,663.5% in the third quarter. FMR LLC now owns 726,667 shares of the construction company's stock valued at $50,816,000 after acquiring an additional 685,462 shares during the period. 98.39% of the stock is owned by institutional investors.

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.