GMS (NYSE:GMS) Downgraded by DA Davidson to Neutral

GMS (NYSE:GMS) was downgraded by stock analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research note issued on Tuesday, Marketbeat.com reports. They currently have a $97.00 target price on the stock. DA Davidson’s target price would suggest a potential downside of 3.21% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Robert W. Baird boosted their price target on GMS from $96.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com downgraded GMS from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Barclays decreased their target price on GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, September 9th. Loop Capital increased their target price on GMS from $85.00 to $93.00 and gave the company a “hold” rating in a research note on Monday. Finally, Truist Financial decreased their target price on GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, GMS has a consensus rating of “Hold” and an average target price of $92.50.

GMS Price Performance

Shares of NYSE:GMS opened at $100.22 on Tuesday. GMS has a fifty-two week low of $65.46 and a fifty-two week high of $105.54. The business has a 50-day moving average of $94.12 and a two-hundred day moving average of $90.66. The stock has a market capitalization of $3.94 billion, a P/E ratio of 16.71 and a beta of 1.68. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.31 and a quick ratio of 1.45.

GMS (NYSE:GMS) last announced its quarterly earnings results on Thursday, August 29th. The company reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.21). GMS had a return on equity of 22.02% and a net margin of 4.45%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the firm earned $2.40 EPS. GMS’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities research analysts predict that GMS will post 7.95 EPS for the current fiscal year.

Insider Buying and Selling at GMS

In other GMS news, COO George T. Hendren sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $102.13, for a total value of $510,650.00. Following the completion of the transaction, the chief operating officer now owns 23,772 shares of the company’s stock, valued at $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 available at this link. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On GMS

Several large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its holdings in shares of GMS by 630.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 43,846 shares of the company’s stock worth $4,268,000 after buying an additional 37,846 shares in the last quarter. Comerica Bank raised its holdings in shares of GMS by 157.0% in the 1st quarter. Comerica Bank now owns 48,284 shares of the company’s stock worth $4,700,000 after buying an additional 29,495 shares in the last quarter. Zimmer Partners LP acquired a new position in shares of GMS in the 1st quarter worth approximately $1,460,000. Virtu Financial LLC acquired a new position in shares of GMS in the 1st quarter worth approximately $475,000. Finally, Adams Wealth Management raised its holdings in shares of GMS by 8.3% in the 1st quarter. Adams Wealth Management now owns 25,396 shares of the company’s stock worth $2,472,000 after buying an additional 1,940 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.