Gibraltar Industries (NASDAQ:ROCK) Shares Gap Up on Better-Than-Expected Earnings

Gibraltar Industries, Inc. (NASDAQ:ROCK)’s share price gapped up before the market opened 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.

The construction company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Gibraltar Industries had a return on equity of 13.13% and a net margin of 8.28%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Gibraltar Industries by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,990,179 shares of the construction company’s stock valued at $176,122,000 after buying an additional 15,201 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Gibraltar Industries by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,663,416 shares of the construction company’s stock worth $97,975,000 after purchasing an additional 23,358 shares in the last quarter. Wellington Management Group LLP grew its position in Gibraltar Industries by 34.7% during the 4th quarter. Wellington Management Group LLP now owns 1,541,070 shares of the construction company’s stock valued at $90,769,000 after purchasing an additional 397,313 shares during the last quarter. Victory Capital Management Inc. increased its stake in Gibraltar Industries by 27.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,481,674 shares of the construction company’s stock valued at $103,613,000 after purchasing an additional 322,422 shares in the last quarter. Finally, State Street Corp increased its position in shares of Gibraltar Industries by 4.6% during the third quarter. State Street Corp now owns 1,278,283 shares of the construction company’s stock valued at $89,390,000 after acquiring an additional 56,008 shares in the last quarter. Institutional investors own 98.39% of the company’s stock.

Gibraltar Industries Price Performance

The company has a 50 day moving average price of $60.83 and a two-hundred day moving average price of $65.96. The stock has a market cap of $2.11 billion, a PE ratio of 19.36 and a beta of 1.20.

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.