GMS (NYSE:GMS) Price Target Cut to $85.00 by Analysts at Royal Bank of Canada

GMS (NYSE:GMS) had its target price lowered by Royal Bank of Canada from $92.00 to $85.00 in a report issued on Friday, Benzinga reports. The firm currently has a sector perform rating on the stock.

GMS has been the subject of several other research reports. Loop Capital reduced their target price on shares of GMS from $100.00 to $85.00 and set a hold rating for the company in a research note on Friday. Truist Financial cut their price target on shares of GMS from $105.00 to $95.00 and set a hold rating for the company in a report on Friday. Robert W. Baird cut their price target on shares of GMS from $112.00 to $100.00 and set an outperform rating for the company in a report on Friday. StockNews.com upgraded shares of GMS from a buy rating to a strong-buy rating in a report on Tuesday. Finally, Barclays cut their price target on shares of GMS from $93.00 to $81.00 and set an equal weight rating for the company in a report on Friday. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $88.88.

GMS Stock 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 stock has a market capitalization of $3.26 billion, a PE ratio of 11.46 and a beta of 1.72. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.47 and a current ratio of 2.40. The company has a fifty day moving average of $92.35 and a 200-day moving average of $88.68.

GMS (NYSE:GMS) last released its earnings results on Thursday, June 20th. The company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.04 by ($0.11). GMS had a return on equity of 25.65% and a net margin of 5.48%. 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 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. As a group, analysts expect that GMS will post 8.36 EPS for the current year.

Insider Buying and Selling at GMS

In other GMS news, SVP Craig D. Apolinsky sold 20,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 10,360 shares in the company, valued at approximately $1,000,465.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GMS

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Burney Co. purchased a new stake in shares of GMS during the first quarter worth about $3,154,000. LRI Investments LLC purchased a new stake in shares of GMS during the first quarter worth about $127,000. Adams Wealth Management grew its holdings in shares of GMS by 8.3% during the first quarter. Adams Wealth Management now owns 25,396 shares of the company’s stock worth $2,472,000 after buying an additional 1,940 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of GMS during the first quarter worth about $475,000. Finally, Zimmer Partners LP purchased a new stake in shares of GMS during the first quarter worth about $1,460,000. 95.28% of the stock is currently owned by hedge funds and other 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.