Barclays Issues Pessimistic Forecast for GMS (NYSE:GMS) Stock Price

GMS (NYSE:GMS) had its price objective cut by analysts at Barclays from $80.00 to $71.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 0.30% from the stock’s previous close.

GMS has been the topic of several other reports. DA Davidson dropped their target price on GMS from $94.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Loop Capital lifted their price objective on shares of GMS from $85.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, November 25th. Royal Bank of Canada decreased their target price on shares of GMS from $82.00 to $65.00 and set a “sector perform” rating for the company in a research note on Friday, March 7th. Truist Financial dropped their price target on shares of GMS from $97.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, March 7th. Finally, Robert W. Baird decreased their price objective on shares of GMS from $110.00 to $93.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $80.50.

GMS Price Performance

GMS stock opened at $70.79 on Monday. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $2.75 billion, a P/E ratio of 13.01 and a beta of 1.73. The firm has a fifty day moving average of $81.80 and a 200-day moving average of $88.54. GMS has a 52-week low of $65.88 and a 52-week high of $105.54.

GMS (NYSE:GMS) last announced its quarterly earnings results on Thursday, March 6th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.47). The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.29 billion. GMS had a net margin of 3.92% and a return on equity of 20.67%. As a group, analysts predict that GMS will post 7.26 EPS for the current year.

Institutional Investors Weigh In On GMS

Several hedge funds and other institutional investors have recently modified their holdings of the stock. AlphaQuest LLC lifted its position in shares of GMS by 1,710.5% during the fourth quarter. AlphaQuest LLC now owns 344 shares of the company’s stock worth $29,000 after purchasing an additional 325 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in GMS during the fourth quarter valued at approximately $34,000. Blue Trust Inc. lifted its holdings in GMS by 71.3% during the 4th quarter. Blue Trust Inc. now owns 685 shares of the company’s stock worth $62,000 after buying an additional 285 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of GMS by 246.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 991 shares of the company’s stock worth $84,000 after acquiring an additional 705 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of GMS by 31.9% in the 3rd quarter. KBC Group NV now owns 1,162 shares of the company’s stock valued at $105,000 after acquiring an additional 281 shares during the last quarter. Institutional investors own 95.28% of the company’s stock.

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.