GMS (NYSE:GMS) Upgraded by StockNews.com to Strong-Buy

GMS (NYSE:GMS) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Wednesday.

Several other brokerages have also recently commented on GMS. Robert W. Baird lifted their price target on shares of GMS from $92.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Stephens boosted their price objective on shares of GMS from $87.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Barclays boosted their price objective on shares of GMS from $75.00 to $93.00 and gave the company an “equal weight” rating in a report on Tuesday, March 5th. Truist Financial boosted their price objective on shares of GMS from $72.00 to $88.00 and gave the company a “hold” rating in a report on Friday, March 1st. Finally, Royal Bank of Canada boosted their price objective on shares of GMS from $84.00 to $92.00 and gave the company a “sector perform” rating in a report on Friday, March 1st. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GMS currently has an average rating of “Moderate Buy” and an average price target of $89.63.

GMS Stock Up 1.7 %

Shares of NYSE:GMS opened at $92.85 on Wednesday. GMS has a one year low of $54.59 and a one year high of $101.04. The company has a 50 day moving average of $93.18 and a 200-day moving average of $80.07. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.40 and a quick ratio of 1.47. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 13.00 and a beta of 1.73.

GMS (NYSE:GMS) last issued its quarterly earnings results on Thursday, February 29th. The company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.01). GMS had a return on equity of 25.65% and a net margin of 5.48%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the firm earned $1.85 EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, sell-side analysts forecast that GMS will post 8.36 earnings per share for the current year.

Insider Buying and Selling at GMS

In other GMS news, CEO John C. Turner, Jr. sold 6,266 shares of GMS stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $97.58, for a total value of $611,436.28. Following the transaction, the chief executive officer now owns 48,074 shares of the company’s stock, valued at $4,691,060.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Craig D. Apolinsky sold 20,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $96.57, for a total value of $1,931,400.00. Following the sale, the senior vice president now owns 10,360 shares of the company’s stock, valued at $1,000,465.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John C. Turner, Jr. sold 6,266 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $97.58, for a total transaction of $611,436.28. Following the completion of the sale, the chief executive officer now directly owns 48,074 shares in the company, valued at approximately $4,691,060.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,820 shares of company stock valued at $3,561,192. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of GMS

A number of institutional investors have recently made changes to their positions in the business. SummerHaven Investment Management LLC lifted its position in shares of GMS by 1.3% in the fourth quarter. SummerHaven Investment Management LLC now owns 10,231 shares of the company’s stock worth $843,000 after purchasing an additional 136 shares in the last quarter. Strs Ohio increased its holdings in GMS by 1.3% during the third quarter. Strs Ohio now owns 16,200 shares of the company’s stock worth $1,036,000 after buying an additional 200 shares during the last quarter. Blue Trust Inc. increased its holdings in GMS by 131.1% during the fourth quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $31,000 after buying an additional 211 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in GMS by 5.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 4,683 shares of the company’s stock worth $300,000 after buying an additional 232 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in GMS by 1.4% during the third quarter. Jennison Associates LLC now owns 16,812 shares of the company’s stock worth $1,075,000 after buying an additional 237 shares during the last quarter. Institutional investors own 95.28% of the company’s stock.

About GMS

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.