Short Interest in Gibraltar Industries, Inc. (NASDAQ:ROCK) Increases By 94.7%
Gibraltar Industries, Inc. (NASDAQ:ROCK) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 2,634,112 shares, a growth of 94.7% from the July 14th total of 1,353,088 shares. Approximately 8.4% of the shares of the company are short sold. Based on an average daily volume of 435,182 shares, the days-to-cover ratio is currently 6.1 days.
A number of equities analysts have weighed in on ROCK shares. BidaskClub lowered shares of Gibraltar Industries from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. KeyCorp reiterated an “overweight” rating and set a $19.00 target price (down previously from $49.00) on shares of Gibraltar Industries in a research report on Thursday, May 11th. Finally, Zacks Investment Research lowered shares of Gibraltar Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, May 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $37.00.
Several large investors have recently added to or reduced their stakes in ROCK. BlackRock Inc. raised its stake in Gibraltar Industries by 81,038.7% in the first quarter. BlackRock Inc. now owns 3,777,007 shares of the construction company’s stock valued at $155,611,000 after buying an additional 3,772,352 shares during the last quarter. Meridian Management Co. acquired a new stake in Gibraltar Industries during the first quarter valued at approximately $1,719,000. Pzena Investment Management LLC acquired a new stake in Gibraltar Industries during the second quarter valued at approximately $28,294,000. Aberdeen Asset Management PLC UK raised its stake in Gibraltar Industries by 56.6% in the second quarter. Aberdeen Asset Management PLC UK now owns 1,739,266 shares of the construction company’s stock valued at $62,005,000 after buying an additional 628,640 shares during the last quarter. Finally, Norges Bank acquired a new stake in Gibraltar Industries during the fourth quarter valued at approximately $17,165,000. 98.96% of the stock is owned by hedge funds and other institutional investors.
Gibraltar Industries (NASDAQ ROCK) opened at 28.50 on Friday. The company has a market cap of $903.68 million, a price-to-earnings ratio of 40.77 and a beta of 1.83. Gibraltar Industries has a 12 month low of $28.05 and a 12 month high of $48.05. The firm’s 50-day moving average is $32.49 and its 200-day moving average is $36.82.
Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings results on Thursday, July 27th. The construction company reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.03. Gibraltar Industries had a net margin of 2.38% and a return on equity of 10.14%. The firm had revenue of $247.63 million during the quarter, compared to analyst estimates of $251.97 million. During the same quarter in the prior year, the firm earned $0.51 EPS. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. On average, analysts anticipate that Gibraltar Industries will post $1.58 EPS for the current fiscal year.
About Gibraltar Industries
Gibraltar Industries, Inc is a manufacturer and distributor of building products for industrial, transportation infrastructure, residential housing, renewable energy and resource conservation markets. The Company’s segments include Residential Products; Industrial and Infrastructure Products, and Renewable Energy and Conservation.
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