GMS (NYSE:GMS) Given New $93.00 Price Target at Loop Capital

GMS (NYSE:GMS) had its target price boosted by Loop Capital from $85.00 to $93.00 in a research report report published on Monday morning,Benzinga reports. Loop Capital currently has a hold rating on the stock.

Several other analysts have also commented on GMS. Robert W. Baird lifted their price objective on shares of GMS from $96.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Truist Financial reduced their price objective on GMS from $95.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 30th. Barclays lowered their target price on GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, September 9th. Finally, StockNews.com downgraded GMS from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $92.50.

GMS Stock Performance

GMS stock opened at $103.82 on Monday. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. The firm has a market cap of $4.08 billion, a PE ratio of 17.13 and a beta of 1.68. The business has a 50 day moving average of $93.61 and a 200-day moving average of $90.55. GMS has a 12-month low of $65.46 and a 12-month high of $105.54.

GMS (NYSE:GMS) last announced its quarterly earnings data on Thursday, August 29th. The company reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.21). The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. GMS had a net margin of 4.45% and a return on equity of 22.02%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.40 EPS. As a group, sell-side analysts expect that GMS will post 7.95 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO George T. Hendren sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $102.13, for a total transaction of $510,650.00. Following the sale, the chief operating officer now owns 23,772 shares of the company’s stock, valued at approximately $2,427,834.36. This represents a 17.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vestcor Inc raised its position in shares of GMS by 71.5% in the third quarter. Vestcor Inc now owns 14,330 shares of the company’s stock worth $1,298,000 after buying an additional 5,972 shares in the last quarter. Barclays PLC raised its holdings in shares of GMS by 374.0% in the 3rd quarter. Barclays PLC now owns 70,580 shares of the company’s stock valued at $6,392,000 after acquiring an additional 55,690 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of GMS by 16.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 42,901 shares of the company’s stock valued at $3,886,000 after acquiring an additional 5,936 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of GMS during the 3rd quarter valued at about $1,437,000. Finally, Weiss Asset Management LP purchased a new position in shares of GMS during the third quarter worth about $12,490,000. 95.28% of the stock is currently owned by hedge funds and other institutional investors.

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.