Gibraltar Industries Inc. (ROCK) Short Interest Update
Gibraltar Industries Inc. (NASDAQ:ROCK) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 888,634 shares, an increase of 33.4% from the October 14th total of 666,003 shares. Based on an average daily trading volume, of 222,423 shares, the days-to-cover ratio is currently 4.0 days. Currently, 3.0% of the shares of the stock are sold short.
Shares of Gibraltar Industries (NASDAQ:ROCK) opened at 42.95 on Friday. The stock has a market cap of $1.36 billion, a PE ratio of 33.19 and a beta of 1.97. Gibraltar Industries has a 52-week low of $18.23 and a 52-week high of $44.30. The company’s 50-day moving average price is $37.92 and its 200-day moving average price is $34.47.
Gibraltar Industries (NASDAQ:ROCK) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.06. Gibraltar Industries had a return on equity of 11.20% and a net margin of 3.56%. The firm earned $273 million during the quarter, compared to the consensus estimate of $274.49 million. During the same period in the prior year, the business earned $0.50 EPS. The firm’s revenue was down 10.5% on a year-over-year basis. Analysts expect that Gibraltar Industries will post $1.58 earnings per share for the current year.
A number of research firms recently commented on ROCK. Zacks Investment Research cut Gibraltar Industries from a “buy” rating to a “hold” rating in a research report on Thursday, October 13th. Wedbush reiterated an “outperform” rating and set a $38.00 price objective on shares of Gibraltar Industries in a research report on Thursday, July 28th.
A number of hedge funds and other institutional investors have recently made changes to their positions in ROCK. MSI Financial Services Inc raised its position in shares of Gibraltar Industries by 1,815.3% in the third quarter. MSI Financial Services Inc now owns 2,873 shares of the company’s stock worth $107,000 after buying an additional 2,723 shares during the period. PineBridge Investments L.P. raised its position in shares of Gibraltar Industries by 3.9% in the second quarter. PineBridge Investments L.P. now owns 3,772 shares of the company’s stock worth $119,000 after buying an additional 140 shares during the period. Teacher Retirement System of Texas raised its position in shares of Gibraltar Industries by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 4,119 shares of the company’s stock worth $130,000 after buying an additional 499 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of Gibraltar Industries during the third quarter worth about $130,000. Finally, KBC Group NV acquired a new position in shares of Gibraltar Industries during the second quarter worth about $137,000. Institutional investors own 98.20% of the company’s stock.
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 operates through three segments: Residential Products, Industrial and Infrastructure Products and Renewable Energy and Conservation.
Receive News & Stock Ratings for Gibraltar Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gibraltar Industries Inc. and related stocks with our FREE daily email newsletter.