GMR Solutions (NYSE:GMRS) Stock Rating Raised to Strong-Buy at Zacks Research

Zacks Research upgraded shares of GMR Solutions (NYSE:GMRS) from a hold rating to a strong-buy rating in a research report report published on Wednesday,Zacks reports.

GMRS has been the topic of a number of other reports. The Goldman Sachs Group set a $30.00 price target on GMR Solutions in a research note on Tuesday, August 18th. JPMorgan Chase & Co. increased their price target on GMR Solutions from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, September 11th. Weiss Ratings reissued a “sell (d)” rating on shares of GMR Solutions in a research note on Thursday. Finally, Citigroup reduced their price objective on GMR Solutions from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, GMR Solutions currently has an average rating of “Moderate Buy” and an average target price of $18.56.

GMR Solutions Trading Down 2.9%

GMRS opened at $11.42 on Wednesday. GMR Solutions has a 1-year low of $8.99 and a 1-year high of $15.98. The company has a current ratio of 1.74, a quick ratio of 2.01 and a debt-to-equity ratio of 4.59. The company has a market capitalization of $761.71 million and a P/E ratio of -7.32. The firm has a fifty day moving average of $11.27.

GMR Solutions (NYSE:GMRS) last announced its quarterly earnings data on Monday, November 9th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.17. The company had revenue of $1.60 billion for the quarter. On average, research analysts forecast that GMR Solutions will post 1.82 EPS for the current fiscal year.

Insider Activity

In other GMR Solutions news, EVP Thomas A. A. Cook sold 251,882 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $12.20, for a total value of $3,072,960.40. Following the transaction, the executive vice president directly owned 675,686 shares of the company’s stock, valued at approximately $8,243,369.20. This trade represents a 27.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Brian Scott Tierney sold 265,794 shares of GMR Solutions stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $12.20, for a total transaction of $3,242,686.80. Following the transaction, the chief financial officer owned 554,955 shares of the company’s stock, valued at $6,770,451. This represents a 32.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 2,353,423 shares of company stock valued at $28,711,761.

Institutional Investors Weigh In On GMR Solutions

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp increased its holdings in GMR Solutions by 275.8% during the 3rd quarter. State Street Corp now owns 618,002 shares of the company’s stock worth $5,951,000 after purchasing an additional 453,552 shares in the last quarter. Royce & Associates LP bought a new position in shares of GMR Solutions in the third quarter valued at approximately $123,000. State of Wyoming purchased a new position in shares of GMR Solutions during the third quarter valued at approximately $137,000. HBK Investments L P purchased a new position in shares of GMR Solutions during the second quarter valued at approximately $3,092,000. Finally, Steamboat Capital Partners LLC bought a new stake in GMR Solutions during the second quarter worth $9,184,000.

About GMR Solutions

GMR Solutions Inc. is a provider of emergency medical services delivering EMS and other essential out-of-hospital care in rural and urban communities. GMR Solutions Inc. is based in Lewisville, Texas.