Gibraltar Industries, Inc. (NASDAQ:ROCK - Get Free Report) shares gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $57.99, but opened at $65.37. Gibraltar Industries shares last traded at $70.02, with a volume of 67,160 shares trading hands.
The construction company reported $1.01 EPS for the quarter, topping 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 business had revenue of $302.06 million during the quarter, compared to analyst estimates of $307.93 million. During the same period last year, the business posted $0.85 earnings per share. Gibraltar Industries's quarterly revenue was down 8.1% compared to the same quarter last year.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded shares of Gibraltar Industries from a "buy" rating to a "strong-buy" rating in a report on Thursday.
Check Out Our Latest Report on ROCK
Hedge Funds Weigh In On Gibraltar Industries
A number of institutional investors and hedge funds have recently made changes to their positions in ROCK. Hennion & Walsh Asset Management Inc. increased its stake in shares of Gibraltar Industries by 1.6% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 13,805 shares of the construction company's stock valued at $965,000 after purchasing an additional 211 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Gibraltar Industries by 16.1% during the third quarter. Assenagon Asset Management S.A. now owns 328,258 shares of the construction company's stock valued at $22,955,000 after purchasing an additional 45,416 shares in the last quarter. Semanteon Capital Management LP bought a new position in shares of Gibraltar Industries during the third quarter valued at approximately $891,000. Farther Finance Advisors LLC increased its stake in shares of Gibraltar Industries by 271.6% during the third quarter. Farther Finance Advisors LLC now owns 379 shares of the construction company's stock valued at $27,000 after purchasing an additional 277 shares in the last quarter. Finally, Atria Investments Inc increased its stake in shares of Gibraltar Industries by 14.8% during the third quarter. Atria Investments Inc now owns 4,085 shares of the construction company's stock valued at $286,000 after purchasing an additional 528 shares in the last quarter. Institutional investors own 98.39% of the company's stock.
Gibraltar Industries Price Performance
The stock's 50 day simple moving average is $60.62 and its two-hundred day simple moving average is $65.94. The firm has a market cap of $1.97 billion, a P/E ratio of 14.52 and a beta of 1.20.
About Gibraltar Industries
(
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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.
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