GMS (NYSE:GMS) Price Target Raised to $110.00

GMS (NYSE:GMS) had its price objective raised by Loop Capital from $95.00 to $110.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Several other research analysts have also commented on the stock. DA Davidson upgraded shares of GMS from a “hold” rating to a “strong-buy” rating in a report on Friday, June 20th. Royal Bank Of Canada raised their price target on shares of GMS from $95.20 to $110.00 and gave the company a “sector perform” rating in a report on Tuesday. Truist Financial raised their price target on shares of GMS from $80.00 to $105.00 and gave the company a “hold” rating in a report on Friday, June 20th. Raymond James Financial lowered shares of GMS from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 25th. Finally, Barclays raised their price target on shares of GMS from $71.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday, June 20th. Ten research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $101.11.

GMS Trading Up 0.6%

Shares of GMS stock opened at $109.70 on Tuesday. The firm has a market cap of $4.18 billion, a P/E ratio of 37.96 and a beta of 1.71. GMS has a 1-year low of $65.77 and a 1-year high of $109.70. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.91 and a quick ratio of 1.17. The firm’s 50-day simple moving average is $81.23 and its 200-day simple moving average is $79.68.

GMS (NYSE:GMS) last posted its quarterly earnings results on Wednesday, June 18th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.11 by $0.18. GMS had a net margin of 2.09% and a return on equity of 16.97%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the firm posted $1.93 earnings per share. GMS’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities analysts forecast that GMS will post 7.26 EPS for the current year.

Insider Activity at GMS

In other news, CEO John C. Turner, Jr. acquired 3,650 shares of the stock in a transaction on Monday, April 7th. The stock was 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 directly owned 66,928 shares of the company’s stock, valued at $4,684,960. The trade was a 5.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO George T. Hendren sold 5,000 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $108.23, for a total transaction of $541,150.00. Following the completion of the sale, the chief operating officer directly owned 23,950 shares of the company’s stock, valued at $2,592,108.50. This trade represents a 17.27% decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

Institutional Trading of GMS

Hedge funds have recently made changes to their positions in the stock. AlphaQuest LLC grew its position in shares of GMS by 1,710.5% during the fourth quarter. AlphaQuest LLC now owns 344 shares of the company’s stock worth $29,000 after buying an additional 325 shares in the last quarter. Eukles Asset Management acquired a new stake in shares of GMS during the first quarter worth approximately $33,000. Canada Pension Plan Investment Board acquired a new stake in shares of GMS during the fourth quarter worth approximately $34,000. Brooklyn Investment Group acquired a new stake in shares of GMS during the first quarter worth approximately $47,000. Finally, Versant Capital Management Inc grew its position in shares of GMS by 170.5% during the first quarter. Versant Capital Management Inc now owns 706 shares of the company’s stock worth $52,000 after buying an additional 445 shares in the last quarter. Institutional investors and hedge funds 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.