Gibraltar Industries (NASDAQ:ROCK) Sees Strong Trading Volume – Should You Buy?

Gibraltar Industries, Inc. (NASDAQ:ROCK) shares saw an uptick in trading volume on Friday . 1,278,145 shares changed hands during mid-day trading, an increase of 469% from the previous session’s volume of 224,649 shares.The stock last traded at $62.27 and had previously closed at $61.23.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Gibraltar Industries from a “hold” rating to a “buy” rating in a report on Tuesday, May 13th.

Gibraltar Industries Stock Up 2.1%

The stock has a 50 day moving average of $57.43 and a 200 day moving average of $62.20. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 13.98 and a beta of 1.30.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.09. Gibraltar Industries had a net margin of 10.49% and a return on equity of 13.19%. The firm had revenue of $290.02 million during the quarter, compared to analyst estimates of $296.77 million. During the same quarter last year, the business earned $0.80 EPS. The company’s revenue was down .9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Gibraltar Industries, Inc. will post 4.91 EPS for the current fiscal year.

Insider Activity

In related news, Director James B. Nish sold 1,172 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $58.21, for a total transaction of $68,222.12. Following the completion of the sale, the director now owns 11,976 shares of the company’s stock, valued at $697,122.96. This trade represents a 8.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Gibraltar Industries

A number of institutional investors and hedge funds have recently modified their holdings of ROCK. Barclays PLC lifted its position in shares of Gibraltar Industries by 93.8% during the 3rd quarter. Barclays PLC now owns 103,324 shares of the construction company’s stock valued at $7,226,000 after acquiring an additional 50,017 shares during the period. Park Avenue Securities LLC increased its stake in Gibraltar Industries by 12.8% in the fourth quarter. Park Avenue Securities LLC now owns 3,603 shares of the construction company’s stock valued at $212,000 after purchasing an additional 410 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Gibraltar Industries during the fourth quarter valued at about $1,727,000. SG Americas Securities LLC acquired a new position in shares of Gibraltar Industries during the fourth quarter valued at about $117,000. Finally, Inspire Investing LLC boosted its position in shares of Gibraltar Industries by 15.3% during the 4th quarter. Inspire Investing LLC now owns 6,785 shares of the construction company’s stock worth $400,000 after purchasing an additional 901 shares in the last quarter. 98.39% of the stock is currently owned by institutional investors.

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.