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

GMS (NYSE:GMS) had its price target raised by Loop Capital from $85.00 to $93.00 in a research note published on Monday,Benzinga reports. Loop Capital currently has a hold rating on the stock.

Other research analysts have also issued research reports about the company. Barclays reduced their price target on GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, September 9th. Robert W. Baird boosted their price objective 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 reduced their price objective on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, August 30th. Finally, StockNews.com lowered shares of GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $92.50.

GMS Stock Down 0.3 %

NYSE GMS opened at $100.22 on Monday. GMS has a 52 week low of $65.46 and a 52 week high of $105.54. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. The business’s fifty day simple moving average is $94.12 and its 200-day simple moving average is $90.66. The firm has a market cap of $3.94 billion, a PE ratio of 16.71 and a beta of 1.68.

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

Insider Buying and Selling at GMS

In other news, COO George T. Hendren sold 5,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was 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 approximately $2,427,834.36. The trade was a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GMS

A number of institutional investors and hedge funds have recently made changes to their positions in GMS. FMR LLC lifted its stake in GMS by 25.3% during the third quarter. FMR LLC now owns 4,232,170 shares of the company’s stock worth $383,308,000 after purchasing an additional 854,987 shares during the last quarter. American Century Companies Inc. lifted its stake in GMS by 28.5% during the second quarter. American Century Companies Inc. now owns 1,830,833 shares of the company’s stock worth $147,583,000 after purchasing an additional 406,406 shares during the last quarter. Pacer Advisors Inc. lifted its stake in GMS by 0.4% during the second quarter. Pacer Advisors Inc. now owns 1,474,821 shares of the company’s stock worth $118,885,000 after purchasing an additional 6,396 shares during the last quarter. Federated Hermes Inc. lifted its stake in GMS by 0.9% during the second quarter. Federated Hermes Inc. now owns 1,056,053 shares of the company’s stock worth $85,128,000 after purchasing an additional 9,516 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its stake in GMS by 4.8% in the second quarter. Westwood Holdings Group Inc. now owns 739,908 shares of the company’s stock valued at $59,644,000 after buying an additional 34,205 shares during the last quarter. 95.28% of the stock is owned by institutional investors and hedge funds.

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.