GMS (NYSE:GMS) Price Target Raised to $95.00

GMS (NYSE:GMS) had its price objective boosted by Barclays from $71.00 to $95.00 in a research note published on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also recently commented on GMS. Robert W. Baird set a $93.00 target price on GMS in a report on Tuesday, June 17th. DA Davidson reduced their target price on GMS from $94.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Stephens raised their target price on GMS from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday. Royal Bank Of Canada raised their price target on GMS from $65.00 to $95.20 and gave the stock a “sector perform” rating in a research report on Tuesday, June 17th. Finally, Truist Financial set a $80.00 target price on GMS in a research note on Tuesday, June 17th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, GMS presently has a consensus rating of “Moderate Buy” and an average price target of $90.36.

GMS Stock Performance

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

GMS (NYSE:GMS) last released its quarterly earnings data on Wednesday, June 18th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.18. GMS had a return on equity of 16.97% and a net margin of 2.09%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the company posted $1.93 earnings per share. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. Sell-side analysts expect that GMS will post 7.26 EPS for the current year.

Insider Buying and Selling

In related news, Director Theron I. Gilliam sold 12,474 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total value of $916,340.04. Following the completion of the sale, the director now directly owns 31,507 shares in the company, valued at $2,314,504.22. The trade was a 28.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 shares were bought at an average price of $70.00 per share, with a total value of $255,500.00. Following the completion of the transaction, the chief executive officer now owns 66,928 shares in the company, valued at approximately $4,684,960. This trade represents a 5.77% increase in their position. 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 institutional investors and hedge funds have recently bought and sold shares of the company. AlphaQuest LLC increased its stake in shares of GMS by 1,710.5% in the fourth quarter. AlphaQuest LLC now owns 344 shares of the company’s stock valued at $29,000 after buying an additional 325 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of GMS during the 4th quarter valued at about $34,000. Eukles Asset Management bought a new stake in shares of GMS during the 1st quarter valued at about $33,000. Brooklyn Investment Group bought a new stake in shares of GMS during the 1st quarter valued at about $47,000. Finally, Versant Capital Management Inc boosted its position in shares of GMS by 170.5% during the 1st quarter. Versant Capital Management Inc now owns 706 shares of the company’s stock valued at $52,000 after purchasing an additional 445 shares in the last quarter. 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.