GMS (NYSE:GMS) Price Target Raised to $93.00

GMS (NYSE:GMS) had its target price raised by Barclays from $80.00 to $93.00 in a research report report published on Friday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other analysts also recently weighed in on GMS. StockNews.com downgraded shares of GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. DA Davidson reduced their price objective on shares of GMS from $97.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday. Loop Capital boosted their price objective on shares of GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, November 25th. Robert W. Baird reduced their price objective on shares of GMS from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $86.00 price objective (up previously from $78.00) on shares of GMS in a research report on Friday. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, GMS has a consensus rating of “Hold” and an average target price of $93.25.

GMS Stock Down 0.7 %

Shares of NYSE:GMS opened at $97.05 on Friday. The firm’s 50 day moving average price is $95.68 and its 200 day moving average price is $90.98. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 17.84 and a beta of 1.68. GMS has a fifty-two week low of $68.13 and a fifty-two week high of $105.54. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90.

GMS (NYSE:GMS) last issued its earnings results on Thursday, December 5th. The company reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.24). The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. GMS had a net margin of 4.45% and a return on equity of 22.02%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business earned $2.30 EPS. As a group, equities research analysts predict that GMS will post 7.95 earnings per share for the current fiscal year.

Insider Activity at GMS

In other GMS news, COO George T. Hendren sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $102.13, for a total value of $510,650.00. Following the transaction, the chief operating officer now directly owns 23,772 shares of the company’s stock, valued at approximately $2,427,834.36. The trade was a 17.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On GMS

Several institutional investors have recently bought and sold shares of GMS. Quarry LP grew its stake in shares of GMS by 37.1% during the 2nd quarter. Quarry LP now owns 403 shares of the company’s stock worth $32,000 after purchasing an additional 109 shares during the period. State of New Jersey Common Pension Fund D grew its stake in shares of GMS by 0.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 20,805 shares of the company’s stock worth $1,884,000 after purchasing an additional 113 shares during the period. QRG Capital Management Inc. grew its stake in shares of GMS by 2.0% during the 2nd quarter. QRG Capital Management Inc. now owns 8,231 shares of the company’s stock worth $664,000 after purchasing an additional 161 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of GMS by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 10,509 shares of the company’s stock worth $847,000 after purchasing an additional 162 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of GMS by 86.4% during the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company’s stock worth $30,000 after purchasing an additional 171 shares during the period. 95.28% of the stock is owned by institutional investors and hedge funds.

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.