GMS (NYSE:GMS) Price Target Cut to $81.00

GMS (NYSE:GMS) had its price target lowered by Barclays from $93.00 to $81.00 in a report released on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities research analysts also recently issued reports on the stock. StockNews.com upgraded shares of GMS from a buy rating to a strong-buy rating in a research note on Tuesday. Royal Bank of Canada increased their price target 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. Robert W. Baird lowered their price target on shares of GMS from $112.00 to $100.00 and set an outperform rating on the stock in a report on Friday. Loop Capital lowered their price target on shares of GMS from $100.00 to $85.00 and set a hold rating on the stock in a report on Friday. Finally, Truist Financial increased their price target on shares of GMS from $72.00 to $88.00 and gave the company a hold rating in a report on Friday, March 1st. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, GMS presently has an average rating of Moderate Buy and a consensus price target of $88.88.

GMS Trading Down 3.1 %

GMS stock opened at $81.82 on Friday. GMS has a one year low of $56.58 and a one year high of $101.04. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 11.46 and a beta of 1.72. The firm has a 50-day moving average of $92.35 and a 200-day moving average of $88.68. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.40 and a quick ratio of 1.47.

GMS (NYSE:GMS) last issued its earnings results on Thursday, June 20th. The company reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.11). GMS had a net margin of 5.48% and a return on equity of 25.65%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the business posted $2.11 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities analysts expect that GMS will post 8.36 earnings per share for the current fiscal year.

Insider Transactions at GMS

In other news, SVP Craig D. Apolinsky sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $96.57, for a total transaction of $1,931,400.00. Following the transaction, the senior vice president now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GMS. Burney Co. bought a new position in GMS in the first quarter valued at approximately $3,154,000. LRI Investments LLC bought a new position in GMS in the first quarter valued at approximately $127,000. Adams Wealth Management increased its stake in GMS by 8.3% in the first quarter. Adams Wealth Management now owns 25,396 shares of the company’s stock valued at $2,472,000 after acquiring an additional 1,940 shares during the last quarter. Virtu Financial LLC bought a new position in GMS in the first quarter valued at approximately $475,000. Finally, Zimmer Partners LP bought a new position in GMS in the first quarter valued at approximately $1,460,000. 95.28% of the stock is owned by institutional investors.

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.