GMS (NYSE:GMS) Stock Price Down 4.5% Following Weak Earnings

GMS Inc. (NYSE:GMS) dropped 4.5% during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $80.37 and last traded at $80.62. Approximately 285,857 shares traded hands during trading, a decline of 18% from the average daily volume of 347,501 shares. The stock had previously closed at $84.40.

The company reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.11). The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.41 billion. GMS had a net margin of 5.02% and a return on equity of 24.05%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.11 EPS.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GMS shares. Robert W. Baird decreased their price target on GMS from $112.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday. Barclays lowered their target price on shares of GMS from $93.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday. Truist Financial reduced their price target on shares of GMS from $105.00 to $95.00 and set a “hold” rating on the stock in a research note on Friday. Loop Capital decreased their price objective on shares of GMS from $100.00 to $85.00 and set a “hold” rating on the stock in a report on Friday. Finally, Royal Bank of Canada dropped their target price on shares of GMS from $92.00 to $85.00 and set a “sector perform” rating for the company in a report on Friday. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $88.88.

Insider Buying and Selling

In related news, SVP Craig D. Apolinsky sold 20,000 shares of GMS stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $96.57, for a total transaction of $1,931,400.00. Following the completion of the sale, the senior vice president now owns 10,360 shares in the company, valued at approximately $1,000,465.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GMS. Blue Trust Inc. boosted its position in shares of GMS by 131.1% in the fourth quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $31,000 after acquiring an additional 211 shares during the last quarter. GAMMA Investing LLC purchased a new position in GMS during the fourth quarter worth approximately $32,000. Hexagon Capital Partners LLC boosted its holdings in shares of GMS by 233.3% in the 4th quarter. Hexagon Capital Partners LLC now owns 430 shares of the company’s stock valued at $35,000 after purchasing an additional 301 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of GMS during the 1st quarter valued at $77,000. Finally, LRI Investments LLC acquired a new stake in shares of GMS during the 1st quarter worth $127,000. Hedge funds and other institutional investors own 95.28% of the company’s stock.

GMS Stock Down 3.1 %

The firm has a market capitalization of $3.26 billion, a PE ratio of 12.16 and a beta of 1.72. The company has a current ratio of 2.17, a quick ratio of 1.47 and a debt-to-equity ratio of 0.84. The firm has a 50-day moving average of $92.35 and a two-hundred day moving average of $88.80.

GMS Company Profile

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.