GMS (NYSE:GMS) Lowered to Neutral Rating by DA Davidson

DA Davidson downgraded shares of GMS (NYSE:GMS) from a buy rating to a neutral rating in a research report sent to investors on Tuesday, Marketbeat Ratings reports. DA Davidson currently has $97.00 price target on the stock.

Several other equities analysts have also commented on the stock. Robert W. Baird increased their price objective on shares of GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Loop Capital lifted their price objective on shares of GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday. StockNews.com downgraded GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Truist Financial lowered their price target on GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, August 30th. Finally, Barclays cut their price objective on GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, September 9th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $92.50.

GMS Stock Performance

Shares of GMS stock opened at $100.22 on Tuesday. The company has a current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90. The company has a market cap of $3.94 billion, a PE ratio of 16.54 and a beta of 1.68. GMS has a 12-month low of $65.46 and a 12-month high of $105.54. The business’s fifty day simple moving average is $94.31 and its 200-day simple moving average is $90.73.

GMS (NYSE:GMS) last released its quarterly earnings results on Thursday, August 29th. The company reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.21). GMS had a net margin of 4.45% and a return on equity of 22.02%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the business posted $2.40 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Analysts expect that GMS will post 7.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO George T. Hendren sold 5,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $102.13, for a total transaction of $510,650.00. Following the sale, the chief operating officer now directly owns 23,772 shares of the company’s stock, valued at approximately $2,427,834.36. This represents a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Comerica Bank grew its position in shares of GMS by 157.0% during the 1st quarter. Comerica Bank now owns 48,284 shares of the company’s stock valued at $4,700,000 after acquiring an additional 29,495 shares during the period. Victory Capital Management Inc. increased its position in shares of GMS by 6.4% in the third quarter. Victory Capital Management Inc. now owns 101,541 shares of the company’s stock valued at $9,197,000 after buying an additional 6,136 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of GMS by 148.8% during the 3rd quarter. Intech Investment Management LLC now owns 16,511 shares of the company’s stock worth $1,495,000 after buying an additional 9,876 shares during the period. Algert Global LLC lifted its position in shares of GMS by 22.8% during the 2nd quarter. Algert Global LLC now owns 151,535 shares of the company’s stock valued at $12,215,000 after buying an additional 28,137 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of GMS by 630.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 43,846 shares of the company’s stock valued at $4,268,000 after buying an additional 37,846 shares in the last quarter. Institutional investors and hedge funds own 95.28% of the company’s stock.

GMS Company Profile

GMS Inc distributes wallboard, ceilings, steel framing and complementary construction products in the United States and Canada. The company offers ceilings products, including suspended mineral fibers, soft fibers, and metal ceiling systems primarily used in offices, hotels, hospitals, retail facilities, schools, and various other commercial and institutional buildings.