GMS (NYSE:GMS) Price Target Cut to $90.00

GMS (NYSE:GMS) had its target price dropped by equities research analysts at Truist Financial from $95.00 to $90.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential upside of 3.70% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. DA Davidson reduced their price objective on shares of GMS from $105.00 to $97.00 and set a “buy” rating for the company in a research note on Tuesday, June 25th. Robert W. Baird reduced their price target on GMS from $112.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 21st. Royal Bank of Canada decreased their price objective on GMS from $92.00 to $85.00 and set a “sector perform” rating for the company in a research note on Friday, June 21st. StockNews.com upgraded GMS from a “hold” rating to a “buy” rating in a research note on Saturday, August 17th. Finally, Barclays decreased their price target on shares of GMS from $93.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, June 21st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.75.

GMS Stock Performance

Shares of GMS stock opened at $86.79 on Friday. The company has a current ratio of 2.17, a quick ratio of 1.40 and a debt-to-equity ratio of 0.84. The stock’s fifty day moving average price is $87.90 and its 200-day moving average price is $91.09. The firm has a market cap of $3.44 billion, a P/E ratio of 12.90 and a beta of 1.62. GMS has a 12 month low of $56.58 and a 12 month high of $101.04.

GMS (NYSE:GMS) last issued its earnings results on Thursday, August 29th. The company reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.21). GMS had a return on equity of 24.05% and a net margin of 5.02%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the company earned $2.40 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. On average, equities research analysts expect that GMS will post 8.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Craig D. Apolinsky sold 7,900 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $90.32, for a total transaction of $713,528.00. Following the transaction, the senior vice president now owns 10,671 shares in the company, valued at $963,804.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of GMS

Several large investors have recently bought and sold shares of the stock. Quarry LP raised its holdings in shares of GMS by 37.1% in the second quarter. Quarry LP now owns 403 shares of the company’s stock worth $32,000 after buying an additional 109 shares during the last quarter. Creative Planning increased its position in shares of GMS by 12.9% in the 2nd quarter. Creative Planning now owns 5,721 shares of the company’s stock valued at $461,000 after acquiring an additional 653 shares during the period. Algert Global LLC raised its stake in GMS by 22.8% in the 2nd quarter. Algert Global LLC now owns 151,535 shares of the company’s stock worth $12,215,000 after acquiring an additional 28,137 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in GMS during the 2nd quarter worth about $201,000. Finally, Magnetar Financial LLC purchased a new stake in GMS during the 2nd quarter valued at about $1,058,000. Hedge funds and other 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.