GMS (NYSE:GMS) Cut to Neutral at DA Davidson

DA Davidson cut shares of GMS (NYSE:GMS) from a buy rating to a neutral rating in a research note released on Tuesday morning, Marketbeat reports. DA Davidson currently has $97.00 price objective on the stock.

Several other analysts have also weighed in on the company. StockNews.com lowered GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Barclays lowered their target price 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 upped their price target on shares of GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Truist Financial decreased their price objective on shares of GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Finally, Loop Capital upped their target price on GMS from $85.00 to $93.00 and gave the company a “hold” rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, GMS currently has an average rating of “Hold” and an average target price of $92.50.

GMS Stock Performance

Shares of GMS opened at $100.22 on Tuesday. The business has a 50-day simple moving average of $94.31 and a two-hundred day simple moving average of $90.73. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. GMS has a 52 week low of $65.46 and a 52 week high of $105.54. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 16.54 and a beta of 1.68.

GMS (NYSE:GMS) last announced 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 the consensus estimate of $1.48 billion. During the same period in the previous year, the business posted $2.40 EPS. The firm’s revenue was up 2.8% on a year-over-year basis. On average, analysts expect that GMS will post 7.95 EPS for the current year.

Insiders Place Their Bets

In other news, COO George T. Hendren sold 5,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $102.13, for a total transaction of $510,650.00. Following the transaction, the chief operating officer now owns 23,772 shares of the company’s stock, valued at approximately $2,427,834.36. This represents a 17.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.90% of the company’s stock.

Institutional Trading of GMS

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its holdings in shares of GMS by 86.4% in the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company’s stock valued at $30,000 after purchasing an additional 171 shares in the last quarter. Quarry LP raised its stake in GMS by 37.1% in the second quarter. Quarry LP now owns 403 shares of the company’s stock worth $32,000 after buying an additional 109 shares in the last quarter. GAMMA Investing LLC lifted its holdings in GMS by 138.8% during the third quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock worth $56,000 after buying an additional 361 shares during the period. KBC Group NV boosted its position in GMS by 31.9% during the 3rd quarter. KBC Group NV now owns 1,162 shares of the company’s stock valued at $105,000 after acquiring an additional 281 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of GMS in the 2nd quarter valued at $121,000. 95.28% of the stock is owned by hedge funds and other 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.