GMS (NYSE:GMS) Given New $80.00 Price Target at DA Davidson

GMS (NYSE:GMS) had its price target lowered by research analysts at DA Davidson from $94.00 to $80.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 7.86% from the stock’s current price.

A number of other equities analysts have also weighed in on GMS. Truist Financial decreased their price target on shares of GMS from $97.00 to $80.00 and set a “hold” rating on the stock in a report on Friday. Robert W. Baird lowered their price target on GMS from $110.00 to $93.00 and set an “outperform” rating for the company in a research report on Friday. Loop Capital raised their price objective on GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, November 25th. Royal Bank of Canada dropped 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 report on Friday. Finally, Barclays reduced their price target on shares of GMS from $93.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $83.71.

GMS Trading Up 1.7 %

GMS stock traded up $1.24 during trading on Friday, hitting $74.17. The company’s stock had a trading volume of 867,938 shares, compared to its average volume of 408,144. The stock’s fifty day moving average is $82.53 and its 200 day moving average is $89.02. GMS has a 1-year low of $65.88 and a 1-year high of $105.54. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 13.63 and a beta of 1.73. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.23.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. State of New Jersey Common Pension Fund D lifted its holdings in GMS by 0.5% in 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 buying an additional 113 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in GMS by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,130 shares of the company’s stock valued at $350,000 after purchasing an additional 131 shares during the last quarter. Inspire Investing LLC grew its stake in GMS by 2.9% during the 4th quarter. Inspire Investing LLC now owns 4,716 shares of the company’s stock valued at $400,000 after purchasing an additional 134 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of GMS by 0.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 37,507 shares of the company’s stock valued at $3,182,000 after buying an additional 148 shares during the last quarter. Finally, Vise Technologies Inc. raised its stake in shares of GMS by 2.3% in the 4th quarter. Vise Technologies Inc. now owns 7,090 shares of the company’s stock valued at $601,000 after purchasing an additional 162 shares in the last quarter. 95.28% of the stock is currently owned by hedge funds and other institutional investors.

About GMS

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.