Gibraltar Industries, Inc. (NASDAQ:ROCK) Sees Significant Growth in Short Interest

Gibraltar Industries, Inc. (NASDAQ:ROCK) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 533,400 shares, an increase of 37.0% from the February 28th total of 389,400 shares. Based on an average daily volume of 286,800 shares, the short-interest ratio is currently 1.9 days. Approximately 1.8% of the company’s shares are sold short.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 20th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its holdings in shares of Gibraltar Industries by 7.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,401 shares of the construction company’s stock valued at $200,000 after buying an additional 228 shares during the period. Illinois Municipal Retirement Fund grew its holdings in Gibraltar Industries by 1.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 16,871 shares of the construction company’s stock valued at $994,000 after purchasing an additional 237 shares in the last quarter. Quarry LP increased its stake in Gibraltar Industries by 33.3% during the 3rd quarter. Quarry LP now owns 1,318 shares of the construction company’s stock worth $92,000 after buying an additional 329 shares during the period. Keybank National Association OH lifted its holdings in Gibraltar Industries by 5.0% in the 4th quarter. Keybank National Association OH now owns 7,148 shares of the construction company’s stock worth $421,000 after buying an additional 343 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in Gibraltar Industries by 11.9% in the 3rd quarter. HighTower Advisors LLC now owns 3,442 shares of the construction company’s stock valued at $245,000 after buying an additional 366 shares during the last quarter. 98.39% of the stock is owned by hedge funds and other institutional investors.

Gibraltar Industries Stock Down 1.1 %

Shares of ROCK stock traded down $0.62 on Tuesday, reaching $58.04. 251,473 shares of the stock were exchanged, compared to its average volume of 200,994. The stock has a market cap of $1.72 billion, a P/E ratio of 12.98 and a beta of 1.20. The firm has a 50 day moving average of $62.75 and a two-hundred day moving average of $65.58. Gibraltar Industries has a 1-year low of $55.31 and a 1-year high of $81.90.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings data on Wednesday, February 19th. The construction company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The company had revenue of $302.06 million for the quarter, compared to the consensus estimate of $307.93 million. Gibraltar Industries had a return on equity of 13.19% and a net margin of 10.49%. The company’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period last year, the business posted $0.85 EPS. On average, equities research analysts predict that Gibraltar Industries will post 4.91 EPS for the current fiscal year.

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.