GMS (NYSE:GMS) Hits New 12-Month High on Analyst Upgrade

GMS Inc. (NYSE:GMS) reached a new 52-week high during trading on Monday after Loop Capital raised their price target on the stock from $85.00 to $93.00. Loop Capital currently has a hold rating on the stock. GMS traded as high as $103.97 and last traded at $103.97, with a volume of 6843 shares. The stock had previously closed at $101.70.

A number of other brokerages have also commented on GMS. Barclays reduced their target price on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, September 9th. StockNews.com cut GMS from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Truist Financial decreased their target price on GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, August 30th. Finally, Robert W. Baird increased their price target on GMS from $96.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $92.50.

Insider Activity

In related news, COO George T. Hendren sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $102.13, for a total transaction of $510,650.00. Following the completion of the transaction, the chief operating officer now owns 23,772 shares of the company’s stock, valued at approximately $2,427,834.36. This trade represents a 17.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On GMS

Several institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. grew its position in GMS by 86.4% in the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company’s stock valued at $30,000 after acquiring an additional 171 shares in the last quarter. Quarry LP boosted its stake in shares of GMS by 37.1% in the second quarter. Quarry LP now owns 403 shares of the company’s stock valued at $32,000 after purchasing an additional 109 shares during the period. GAMMA Investing LLC grew its holdings in shares of GMS by 138.8% in the third quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock valued at $56,000 after purchasing an additional 361 shares in the last quarter. KBC Group NV increased its stake in GMS by 31.9% during the 3rd quarter. KBC Group NV now owns 1,162 shares of the company’s stock worth $105,000 after buying an additional 281 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in GMS during the 2nd quarter worth approximately $121,000. Hedge funds and other institutional investors own 95.28% of the company’s stock.

GMS Price Performance

The company’s 50-day simple moving average is $93.90 and its 200 day simple moving average is $90.62. The company has a market cap of $3.95 billion, a PE ratio of 17.13 and a beta of 1.68. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.45 and a current ratio of 2.31.

GMS (NYSE:GMS) last released its earnings results on Thursday, August 29th. The company reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.21). The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. GMS had a net margin of 4.45% and a return on equity of 22.02%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $2.40 earnings per share. On average, sell-side analysts predict that GMS Inc. will post 7.95 earnings per share for the current fiscal year.

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.