GMS (NYSE:GMS) Price Target Raised to $105.00

GMS (NYSE:GMS) had its price objective increased by Truist Financial from $80.00 to $105.00 in a research note published on Friday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Other equities analysts have also issued research reports about the stock. Loop Capital cut their price target on shares of GMS from $93.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, March 10th. UBS Group set a $80.00 price target on shares of GMS in a report on Friday, March 7th. Stephens boosted their target price on shares of GMS from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Friday. Barclays boosted their target price on shares of GMS from $71.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Raymond James Financial boosted their target price on shares of GMS from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Friday. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.36.

GMS Stock Up 24.2%

Shares of GMS opened at $100.62 on Friday. GMS has a 52 week low of $65.77 and a 52 week high of $105.54. The stock has a fifty day moving average of $75.45 and a 200-day moving average of $78.88. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.17 and a current ratio of 1.91. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 34.82 and a beta of 1.62.

GMS (NYSE:GMS) last issued its earnings results on Wednesday, June 18th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.18. GMS had a return on equity of 16.97% and a net margin of 2.09%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the firm earned $1.93 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that GMS will post 7.26 earnings per share for the current fiscal year.

Insider Activity at GMS

In other GMS news, Director Theron I. Gilliam sold 12,474 shares of GMS stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total transaction of $916,340.04. Following the completion of the transaction, the director now owns 31,507 shares in the company, valued at approximately $2,314,504.22. The trade was a 28.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John C. Turner, Jr. bought 3,650 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was acquired at an average price of $70.00 per share, for a total transaction of $255,500.00. Following the purchase, the chief executive officer now directly owns 66,928 shares in the company, valued at approximately $4,684,960. The trade was a 5.77% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On GMS

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its stake in GMS by 38.7% in the fourth quarter. FMR LLC now owns 5,868,782 shares of the company’s stock valued at $497,849,000 after purchasing an additional 1,636,612 shares during the last quarter. Coliseum Capital Management LLC lifted its stake in GMS by 81.9% in the first quarter. Coliseum Capital Management LLC now owns 3,437,488 shares of the company’s stock valued at $251,521,000 after purchasing an additional 1,547,999 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in GMS by 29.4% in the first quarter. Westwood Holdings Group Inc. now owns 933,262 shares of the company’s stock valued at $68,287,000 after purchasing an additional 212,128 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in GMS by 105.3% in the first quarter. Goldman Sachs Group Inc. now owns 373,738 shares of the company’s stock valued at $27,346,000 after purchasing an additional 191,737 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in GMS by 12.9% in the first quarter. American Century Companies Inc. now owns 1,660,194 shares of the company’s stock valued at $121,476,000 after purchasing an additional 189,760 shares during the last quarter. Hedge funds and other institutional investors own 95.28% of the company’s stock.

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.