Noteworthy Price Action: Could Gibraltar Industries Inc Change Direction After Achieving 52-Week High?

Noteworthy Price Action: Could Gibraltar Industries Inc Change Direction After Achieving 52 Week High?

The stock of Gibraltar Industries Inc (NASDAQ:ROCK) hit a new 52-week high and has $57.05 target or 31.00% above today’s $43.55 share price. The 6 months bullish chart indicates low risk for the $1.41B company. The 1-year high was reported on Nov, 16 by Barchart.com. If the $57.05 price target is reached, the company will be worth $437.10 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 73,051 shares traded hands. Gibraltar Industries Inc (NASDAQ:ROCK) has risen 61.06% since April 14, 2016 and is uptrending. It has outperformed by 56.37% the S&P500.

Gibraltar Industries Inc (NASDAQ:ROCK) Ratings Coverage

Out of 5 analysts covering Gibraltar Industries (NASDAQ:ROCK), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. Gibraltar Industries has been the topic of 6 analyst reports since September 5, 2015 according to StockzIntelligence Inc. Global Hunter Securities initiated the shares of ROCK in a report on Monday, September 28 with “Buy” rating. On Saturday, September 5 the stock rating was downgraded by TheStreet to “Hold”. The stock has “Buy” rating given by Sidoti on Friday, October 16. Wedbush initiated Gibraltar Industries Inc (NASDAQ:ROCK) on Friday, October 16 with “Outperform” rating.

According to Zacks Investment Research, “Gibraltar Industries, Inc. is a leading manufacturer, processor, and distributor of metals and other engineered materials for the building products, vehicular, and other industrial markets.”

Insitutional Activity: The institutional sentiment decreased to 1.14 in 2016 Q2. Its down 0.30, from 1.44 in 2016Q1. The ratio fall, as 13 funds sold all Gibraltar Industries Inc shares owned while 58 reduced positions. 26 funds bought stakes while 55 increased positions. They now own 30.28 million shares or 6.99% more from 28.30 million shares in 2016Q1.
Tci Wealth Advisors has invested 0% of its portfolio in Gibraltar Industries Inc (NASDAQ:ROCK). Ameriprise Finance holds 602,227 shares or 0.01% of its portfolio. Bnp Paribas Arbitrage has 9,356 shares for 0% of their US portfolio. Bogle Invest Mngmt L P De, a Massachusetts-based fund reported 136,786 shares. Blackrock Japan Comm Limited has 348 shares for 0% of their US portfolio. Clinton Grp Inc Inc accumulated 0.01% or 7,310 shares. Ls Advsrs Ltd Liability Com owns 1,090 shares or 0% of their US portfolio. Leuthold Grp Inc Ltd Liability owns 80,883 shares or 0.27% of their US portfolio. Wells Fargo & Company Mn has 0% invested in the company for 45,326 shares. Barrow Hanley Mewhinney & Strauss Lc reported 1.82 million shares or 0.09% of all its holdings. Cornerstone Cap Holdg Limited Liability Corp has invested 0.05% of its portfolio in Gibraltar Industries Inc (NASDAQ:ROCK). The Massachusetts-based Fmr Ltd Liability Corp has invested 0% in Gibraltar Industries Inc (NASDAQ:ROCK). Alps Advsrs last reported 15,323 shares in the company. Gemmer Asset Management Lc last reported 0% of its portfolio in the stock. Landscape Cap Ltd Liability Corp owns 14,000 shares or 0.06% of their US portfolio.

More recent Gibraltar Industries Inc (NASDAQ:ROCK) news were published by: Quotes.Wsj.com which released: “News Gibraltar Industries Inc.ROCK” on February 12, 2011. Also Businesswire.com published the news titled: “Gibraltar Announces Planned Retirement in 2017 of Chief Financial Officer …” on November 07, 2016. Nasdaq.com‘s news article titled: “Zacks.com featured highlights: Gibraltar Industries, Eagle Bancorp Montana …” with publication date: November 14, 2016 was also an interesting one.

ROCK Company Profile

Gibraltar Industries, Inc., incorporated on September 17, 1993, is a maker and distributor of building products for industrial, transportation infrastructure, residential housing, renewable energy and resource conservation markets. The Firm operates through three divisions: Residential Products, Industrial and Infrastructure Products and Renewable Energy and Conservation. The Firm serves clients primarily throughout North America, Europe and Asia. The Company’s clients include home improvement retailers, wholesalers, industrial distributors, contractors, solar developers and institutional and commercial growers of plants. The Firm operates over 50 facilities in approximately 20 states, Canada, England, Germany, China and Japan, which includes over 30 manufacturing facilities and approximately eight distribution centers.

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