GMS Inc. (NYSE:GMS) Short Interest Down 11.1% in September

GMS Inc. (NYSE:GMS) saw a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 1,200,000 shares, a decrease of 11.1% from the September 15th total of 1,350,000 shares. Currently, 3.1% of the company’s shares are sold short. Based on an average trading volume of 409,600 shares, the days-to-cover ratio is currently 2.9 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP lifted its position in shares of GMS by 37.1% in the second quarter. Quarry LP now owns 403 shares of the company’s stock worth $32,000 after buying an additional 109 shares during the last quarter. QRG Capital Management Inc. boosted its position in GMS by 2.0% during the first quarter. QRG Capital Management Inc. now owns 8,070 shares of the company’s stock worth $786,000 after purchasing an additional 160 shares during the period. Pitcairn Co. grew its holdings in GMS by 2.5% during the first quarter. Pitcairn Co. now owns 6,614 shares of the company’s stock valued at $644,000 after purchasing an additional 160 shares during the last quarter. SummerHaven Investment Management LLC raised its position in shares of GMS by 1.6% in the second quarter. SummerHaven Investment Management LLC now owns 10,509 shares of the company’s stock valued at $847,000 after purchasing an additional 162 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of GMS by 86.4% in the second quarter. Blue Trust Inc. now owns 369 shares of the company’s stock worth $30,000 after buying an additional 171 shares during the last quarter. 95.28% of the stock is owned by hedge funds and other institutional investors.

GMS Price Performance

GMS stock traded down $0.50 on Thursday, hitting $95.73. 167,548 shares of the company’s stock traded hands, compared to its average volume of 385,033. GMS has a 1-year low of $56.58 and a 1-year high of $101.04. The stock has a fifty day moving average of $89.55 and a 200-day moving average of $90.39. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 14.25 and a beta of 1.68. The company has a current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90.

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

Wall Street Analyst Weigh In

GMS has been the topic of a number of recent research reports. DA Davidson reduced their price target on shares of GMS from $105.00 to $97.00 and set a “buy” rating on the stock in a research report on Tuesday, June 25th. Truist Financial decreased their price objective on shares of GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, August 30th. Stephens dropped their target price on GMS from $112.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, July 1st. Barclays cut their price target on GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, September 9th. Finally, StockNews.com lowered GMS from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, GMS presently has an average rating of “Hold” and a consensus target price of $91.50.

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.