DA Davidson Cuts GMS (NYSE:GMS) Price Target to $80.00

GMS (NYSE:GMS) had its price objective dropped by stock analysts at DA Davidson from $94.00 to $80.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. DA Davidson’s target price indicates a potential upside of 7.86% from the stock’s previous close.

A number of other research analysts have also issued reports on GMS. Robert W. Baird reduced their target price on shares of GMS from $110.00 to $93.00 and set an “outperform” rating for the company in a research note on Friday. Loop Capital increased their price objective on GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, November 25th. Royal Bank of Canada cut their target price on GMS from $82.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Friday. Barclays cut their price objective on shares of GMS from $93.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Finally, Truist Financial dropped their price target on shares of GMS from $97.00 to $80.00 and set a “hold” rating on the stock in a research report on Friday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $83.71.

GMS Stock Performance

GMS traded up $1.24 on Friday, hitting $74.17. 867,938 shares of the company’s stock were exchanged, compared to its average volume of 408,144. The company has a current ratio of 2.23, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The stock has a fifty day moving average of $82.53 and a two-hundred day moving average of $89.02. GMS has a twelve month low of $65.88 and a twelve month high of $105.54. The firm has a market cap of $2.88 billion, a PE ratio of 13.63 and a beta of 1.73.

GMS (NYSE:GMS) last posted its earnings results on Thursday, March 6th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.47). GMS had a net margin of 3.92% and a return on equity of 20.67%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.29 billion. On average, research analysts anticipate that GMS will post 7.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC boosted its stake in shares of GMS by 1.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 24,797 shares of the company’s stock worth $2,246,000 after acquiring an additional 428 shares in the last quarter. Meritage Portfolio Management boosted its position in shares of GMS by 11.5% in the 3rd quarter. Meritage Portfolio Management now owns 4,747 shares of the company’s stock valued at $430,000 after purchasing an additional 490 shares during the period. State of New Jersey Common Pension Fund D boosted its position in shares of GMS by 0.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 20,805 shares of the company’s stock valued at $1,884,000 after purchasing an additional 113 shares during the period. GSA Capital Partners LLP purchased a new position in GMS in the 3rd quarter worth about $245,000. Finally, Victory Capital Management Inc. raised its holdings in 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 buying an additional 6,136 shares during the period. 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.