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

GMS (NYSE:GMS) had its price target raised by investment analysts at Barclays from $80.00 to $93.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential downside of 4.17% from the company’s current price.

Other research analysts have also issued research reports about the stock. Truist Financial decreased their price target on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. Loop Capital lifted their target price on GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, November 25th. StockNews.com downgraded GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. DA Davidson cut their price objective on GMS from $97.00 to $94.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Robert W. Baird decreased their target price on shares of GMS from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Friday. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $93.25.

GMS Trading Down 0.7 %

Shares of GMS stock opened at $97.05 on Friday. The stock has a 50-day simple moving average of $95.68 and a 200 day simple moving average of $90.99. The stock has a market capitalization of $3.81 billion, a P/E ratio of 17.84 and a beta of 1.68. GMS has a fifty-two week low of $68.13 and a fifty-two 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.

GMS (NYSE:GMS) last posted its quarterly earnings data on Thursday, December 5th. The company reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.24). GMS had a net margin of 4.45% and a return on equity of 22.02%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the business posted $2.30 EPS. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, sell-side analysts expect that GMS will post 7.95 earnings per share for the current fiscal year.

Insider Activity at GMS

In related news, COO George T. Hendren sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $102.13, for a total value of $510,650.00. Following the completion of the sale, the chief operating officer now 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.90% of the stock is currently owned by insiders.

Institutional Trading of GMS

A number of institutional investors have recently added to or reduced their stakes in the business. QRG Capital Management Inc. raised its holdings in shares of GMS by 2.0% during the 2nd quarter. QRG Capital Management Inc. now owns 8,231 shares of the company’s stock valued at $664,000 after purchasing an additional 161 shares in the last quarter. SG Americas Securities LLC raised its holdings in GMS by 27.8% during the second quarter. SG Americas Securities LLC now owns 5,154 shares of the company’s stock valued at $415,000 after buying an additional 1,120 shares in the last quarter. Reinhart Partners LLC. lifted its position in shares of GMS by 1.7% in the second quarter. Reinhart Partners LLC. now owns 495,764 shares of the company’s stock worth $39,964,000 after buying an additional 8,215 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of GMS by 86.4% during the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company’s stock worth $30,000 after acquiring an additional 171 shares in the last quarter. Finally, Summit Global Investments increased its holdings in shares of GMS by 2.0% during the 2nd quarter. Summit Global Investments now owns 14,712 shares of the company’s stock valued at $1,186,000 after acquiring an additional 288 shares during the last quarter. 95.28% of the stock is currently 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.