Short Interest in Gibraltar Industries, Inc. (NASDAQ:ROCK) Increases By 23.6%

Gibraltar Industries, Inc. (NASDAQ:ROCK - Get Free Report) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 497,300 shares, an increase of 23.6% from the October 15th total of 402,200 shares. Based on an average daily trading volume, of 181,500 shares, the days-to-cover ratio is presently 2.7 days. Approximately 1.7% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Gibraltar Industries from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, October 22nd.

Institutional Trading of Gibraltar Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC increased its position in shares of Gibraltar Industries by 1,663.5% during the 3rd quarter. FMR LLC now owns 726,667 shares of the construction company's stock worth $50,816,000 after purchasing an additional 685,462 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Gibraltar Industries by 27.8% during the third quarter. Victory Capital Management Inc. now owns 1,481,674 shares of the construction company's stock worth $103,613,000 after buying an additional 322,422 shares during the last quarter. Swedbank AB bought a new stake in Gibraltar Industries during the first quarter worth $17,016,000. Pacer Advisors Inc. raised its holdings in shares of Gibraltar Industries by 14.6% in the 2nd quarter. Pacer Advisors Inc. now owns 1,084,170 shares of the construction company's stock valued at $74,320,000 after purchasing an additional 138,194 shares during the period. Finally, Millennium Management LLC raised its stake in Gibraltar Industries by 196.4% in the second quarter. Millennium Management LLC now owns 123,438 shares of the construction company's stock valued at $8,462,000 after buying an additional 81,791 shares during the period. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Gibraltar Industries Price Performance

Shares of NASDAQ ROCK traded down $1.35 during midday trading on Friday, hitting $70.66. The stock had a trading volume of 100,015 shares, compared to its average volume of 176,011. Gibraltar Industries has a fifty-two week low of $61.92 and a fifty-two week high of $87.40. The firm has a market cap of $2.14 billion, a P/E ratio of 19.63 and a beta of 1.14. The company's 50-day simple moving average is $69.19 and its 200 day simple moving average is $70.27.

Gibraltar Industries (NASDAQ:ROCK - Get Free Report) last released its earnings results on Wednesday, October 30th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.01. Gibraltar Industries had a net margin of 8.28% and a return on equity of 13.13%. The company had revenue of $361.20 million for the quarter, compared to the consensus estimate of $360.43 million. During the same period in the prior year, the company posted $1.38 EPS. The company's revenue was down 7.6% compared to the same quarter last year. Equities analysts expect that Gibraltar Industries will post 4.18 EPS for the current fiscal year.

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.