GMS (NYSE:GMS) Price Target Raised to $93.00

GMS (NYSE:GMS) had its price objective lifted by equities research analysts at Loop Capital from $85.00 to $93.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Loop Capital’s price objective indicates a potential downside of 7.44% from the company’s previous close.

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

GMS Price Performance

NYSE:GMS opened at $100.48 on Monday. The firm’s 50-day simple moving average is $93.90 and its 200 day simple moving average is $90.62. GMS has a 52 week low of $65.46 and a 52 week high of $105.54. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 17.13 and a beta of 1.68. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.45 and a current ratio of 2.31.

GMS (NYSE:GMS) last announced its quarterly earnings data on Thursday, August 29th. The company reported $1.93 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.21). The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. GMS had a net margin of 4.45% and a return on equity of 22.02%. GMS’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.40 earnings per share. As a group, sell-side analysts predict that GMS will post 7.95 earnings per share for the current year.

Insider Activity

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

Institutional Inflows and Outflows

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

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.