GMS (NYSE:GMS) Hits New 52-Week High on Analyst Upgrade

GMS Inc. (NYSE:GMS)’s share price hit a new 52-week high during trading on Monday after Loop Capital raised their price target on the stock from $85.00 to $93.00. Loop Capital currently has a hold rating on the stock. GMS traded as high as $103.97 and last traded at $103.97, with a volume of 6843 shares. The stock had previously closed at $101.70.

GMS has been the subject of several other research reports. StockNews.com lowered shares of GMS from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Robert W. Baird increased their price objective on GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Truist Financial dropped their target price on GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Finally, Barclays decreased their price target 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. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $92.50.

Insider Buying and Selling at GMS

In other news, COO George T. Hendren sold 5,000 shares of the firm’s stock in a transaction dated 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 directly owns 23,772 shares in the company, valued at $2,427,834.36. This trade represents a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On GMS

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Comerica Bank boosted 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 valued at $4,700,000 after acquiring an additional 29,495 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in GMS by 6.4% in the third quarter. Victory Capital Management Inc. now owns 101,541 shares of the company’s stock valued at $9,197,000 after purchasing an additional 6,136 shares during the last quarter. Algert Global LLC boosted its holdings in GMS by 22.8% in the second quarter. Algert Global LLC now owns 151,535 shares of the company’s stock valued at $12,215,000 after purchasing an additional 28,137 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in GMS by 630.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 43,846 shares of the company’s stock worth $4,268,000 after purchasing an additional 37,846 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of GMS during the 2nd quarter valued at about $535,000. Institutional investors and hedge funds own 95.28% of the company’s stock.

GMS Trading Up 2.1 %

The company has a current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 17.19 and a beta of 1.68. The company has a fifty day moving average price of $93.61 and a 200-day moving average price of $90.55.

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 the consensus estimate of $2.14 by ($0.21). GMS had a net margin of 4.45% and a return on equity of 22.02%. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business posted $2.40 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. As a group, research analysts expect that GMS Inc. will post 7.95 EPS for the current year.

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.