Gibraltar Industries (NASDAQ:ROCK) Reaches New 52-Week Low – Time to Sell?

Shares of Gibraltar Industries, Inc. (NASDAQ:ROCK) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $57.83 and last traded at $58.10, with a volume of 30230 shares. The stock had previously closed at $59.08.

Analysts Set New Price Targets

Separately, StockNews.com raised Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 31st.

Gibraltar Industries Trading Up 0.8 %

The stock has a market capitalization of $1.79 billion, a P/E ratio of 16.39 and a beta of 1.19. The stock’s 50 day simple moving average is $66.99 and its 200 day simple moving average is $68.51.

Gibraltar Industries (NASDAQ:ROCK) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.26 by $0.01. The business had revenue of $361.20 million for the quarter, compared to analysts’ expectations of $360.43 million. Gibraltar Industries had a net margin of 8.28% and a return on equity of 13.13%. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.38 earnings per share. On average, sell-side analysts expect that Gibraltar Industries, Inc. will post 4.18 EPS for the current fiscal year.

Institutional Trading of Gibraltar Industries

A number of institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. lifted its stake in Gibraltar Industries by 27.8% in the third quarter. Victory Capital Management Inc. now owns 1,481,674 shares of the construction company’s stock valued at $103,613,000 after buying an additional 322,422 shares during the last quarter. State Street Corp lifted its position in Gibraltar Industries by 4.6% in the 3rd quarter. State Street Corp now owns 1,278,283 shares of the construction company’s stock valued at $89,390,000 after purchasing an additional 56,008 shares during the last quarter. Pacer Advisors Inc. lifted its position in 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 last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in Gibraltar Industries by 1.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 844,373 shares of the construction company’s stock worth $57,882,000 after purchasing an additional 9,764 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Gibraltar Industries by 4.1% in the third quarter. Geode Capital Management LLC now owns 838,932 shares of the construction company’s stock valued at $58,676,000 after purchasing an additional 32,950 shares during the period. 98.39% of the stock is owned by institutional investors and hedge funds.

About Gibraltar Industries

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.