GMS (NYSE:GMS) Rating Lowered to “Neutral” at DA Davidson

DA Davidson lowered shares of GMS (NYSE:GMS) from a buy rating to a neutral rating in a research note released on Tuesday morning, MarketBeat reports. The firm currently has $97.00 price target on the stock.

Other research analysts have also recently issued reports about the company. Loop Capital boosted their target price on GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday. Barclays lowered their price objective on GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, September 9th. StockNews.com cut shares of GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Truist Financial lowered their price target on shares of GMS from $95.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 30th. Finally, Robert W. Baird raised their price objective on shares of GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $92.50.

GMS Trading Down 3.2 %

NYSE GMS opened at $100.48 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.45 and a current ratio of 2.31. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 16.58 and a beta of 1.68. The firm has a 50 day simple moving average of $93.90 and a 200-day simple moving average of $90.62. GMS has a one year low of $65.46 and a one year high of $105.54.

GMS (NYSE:GMS) last issued its quarterly earnings results on Thursday, August 29th. The company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.21). The business 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 business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.40 EPS. Equities research analysts anticipate that GMS will post 7.95 EPS for the current fiscal year.

Insider Activity

In related news, COO George T. Hendren sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $102.13, for a total value of $510,650.00. Following the completion of the sale, the chief operating officer now directly owns 23,772 shares of the company’s stock, valued at $2,427,834.36. The trade was a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Trading of GMS

A number of hedge funds and other institutional investors have recently made changes to their positions in GMS. Quarry LP grew its stake in GMS by 37.1% during the 2nd 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. State of New Jersey Common Pension Fund D grew its position in shares of GMS by 0.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 20,805 shares of the company’s stock worth $1,884,000 after acquiring an additional 113 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of GMS by 2.0% in the 2nd quarter. QRG Capital Management Inc. now owns 8,231 shares of the company’s stock valued at $664,000 after acquiring an additional 161 shares during the period. SummerHaven Investment Management LLC raised its position in GMS by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 10,509 shares of the company’s stock valued at $847,000 after purchasing an additional 162 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in GMS by 86.4% during the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company’s stock worth $30,000 after purchasing an additional 171 shares during the period. Institutional investors and hedge funds 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.