GMS (NYSE:GMS) Price Target Cut to $85.00

GMS (NYSE:GMS) had its price target cut by Loop Capital from $100.00 to $85.00 in a report issued on Friday, Benzinga reports. They currently have a hold rating on the stock.

Several other equities research analysts have also recently weighed in on GMS. StockNews.com raised GMS from a buy rating to a strong-buy rating in a research note on Tuesday, June 18th. Barclays upped their price target on GMS from $75.00 to $93.00 and gave the stock an equal weight rating in a research note on Tuesday, March 5th. Robert W. Baird reduced their price target on GMS from $112.00 to $100.00 and set an outperform rating on the stock in a research note on Friday. Royal Bank of Canada upped their price target on GMS from $84.00 to $92.00 and gave the stock a sector perform rating in a research note on Friday, March 1st. Finally, Truist Financial upped their price target on GMS from $72.00 to $88.00 and gave the stock a hold rating in a research note on Friday, March 1st. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $88.88.

GMS Stock Performance

Shares of GMS opened at $81.82 on Friday. The company has a 50-day simple moving average of $92.35 and a two-hundred day simple moving average of $88.91. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.17 and a quick ratio of 1.47. The firm has a market capitalization of $3.26 billion, a PE ratio of 12.16 and a beta of 1.72. GMS has a one year low of $56.58 and a one year high of $101.04.

GMS (NYSE:GMS) last released its earnings results on Thursday, June 20th. The company reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.11). The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. GMS had a net margin of 5.02% and a return on equity of 24.05%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.11 EPS. On average, analysts anticipate that GMS will post 8.79 EPS for the current fiscal year.

Insider Transactions at GMS

In other news, SVP Craig D. Apolinsky sold 20,000 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $96.57, for a total value of $1,931,400.00. Following the sale, the senior vice president now directly owns 10,360 shares of the company’s stock, valued at $1,000,465.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale bought a new position in GMS in the third quarter valued at about $316,000. QRG Capital Management Inc. bought a new position in GMS in the third quarter valued at about $463,000. Invesco Ltd. lifted its holdings in GMS by 8.6% in the third quarter. Invesco Ltd. now owns 367,197 shares of the company’s stock valued at $23,490,000 after acquiring an additional 29,147 shares during the period. CI Investments Inc. bought a new position in GMS in the third quarter valued at about $155,000. Finally, Dark Forest Capital Management LP raised its stake in shares of GMS by 83.4% in the third quarter. Dark Forest Capital Management LP now owns 23,504 shares of the company’s stock worth $1,504,000 after buying an additional 10,690 shares during the period. 95.28% of the stock is owned by 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.