Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK – Get Free Report) hit a new 52-week low during mid-day trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $32.07 and last traded at $36.0340, with a volume of 260,588 shares changing hands. The stock had previously closed at $43.58.
The construction company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.19). Gibraltar Industries had a negative net margin of 10.43% and a positive return on equity of 11.23%. The business had revenue of $479.57 million for the quarter, compared to analysts’ expectations of $487.57 million. During the same quarter in the prior year, the company posted $1.14 earnings per share. The firm’s quarterly revenue was up 54.2% compared to the same quarter last year.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gibraltar Industries in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Gibraltar Industries presently has a consensus rating of “Moderate Buy”.
Read Our Latest Stock Report on Gibraltar Industries
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. CenterBook Partners LP purchased a new stake in shares of Gibraltar Industries in the third quarter valued at $5,044,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in shares of Gibraltar Industries during the 3rd quarter worth about $2,488,000. Inspire Investing LLC boosted its stake in shares of Gibraltar Industries by 4.3% during the 3rd quarter. Inspire Investing LLC now owns 15,873 shares of the construction company’s stock worth $629,000 after purchasing an additional 656 shares during the period. Skylands Capital LLC boosted its stake in shares of Gibraltar Industries by 93.1% during the 3rd quarter. Skylands Capital LLC now owns 64,400 shares of the construction company’s stock worth $2,550,000 after purchasing an additional 31,050 shares during the period. Finally, Counterpoint Mutual Funds LLC grew its holdings in Gibraltar Industries by 178.0% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 21,696 shares of the construction company’s stock valued at $859,000 after purchasing an additional 13,891 shares during the last quarter. Institutional investors own 98.39% of the company’s stock.
Gibraltar Industries Price Performance
The company has a market capitalization of $1.09 billion, a P/E ratio of -7.31, a P/E/G ratio of 0.71 and a beta of 1.30. The firm’s fifty day moving average is $41.34 and its 200 day moving average is $43.09. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.91 and a current ratio of 1.46.
About Gibraltar Industries
Gibraltar Industries, Inc is a Buffalo, New York-based manufacturer of products and services used in the construction, renewable energy, infrastructure and controlled-environment agriculture markets. The company serves residential and commercial builders, contractors, utilities, solar developers, growers and other industrial customers.
Its products include roofing and ventilation components, solar racking and mounting systems, greenhouse structures and related growing systems, and engineered products for infrastructure and industrial applications.
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