GMS (NYSE:GMS) Given New $85.00 Price Target at Loop Capital

GMS (NYSE:GMS) had its price objective reduced by Loop Capital from $100.00 to $85.00 in a research note released on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

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

GMS Price Performance

GMS opened at $81.82 on Friday. The company’s 50 day simple moving average is $92.35 and its 200 day simple moving average is $88.68. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.47 and a current ratio of 2.40. GMS has a 1 year low of $56.58 and a 1 year high of $101.04. The stock has a market capitalization of $3.26 billion, a PE ratio of 11.46 and a beta of 1.72.

GMS (NYSE:GMS) last released its earnings results on Thursday, June 20th. The company reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.11). GMS had a return on equity of 25.65% and a net margin of 5.48%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the business posted $2.11 earnings per share. GMS’s revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts expect that GMS will post 8.36 EPS for the current year.

Insider Activity

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

Institutional Trading of GMS

A number of hedge funds have recently made changes to their positions in GMS. Dimensional Fund Advisors LP increased its stake in shares of GMS by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,482,066 shares of the company’s stock worth $204,600,000 after buying an additional 14,005 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of GMS by 57.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,250,370 shares of the company’s stock worth $103,068,000 after buying an additional 456,692 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of GMS by 8.1% in the fourth quarter. Federated Hermes Inc. now owns 1,018,642 shares of the company’s stock worth $83,967,000 after buying an additional 76,417 shares during the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of GMS in the first quarter worth $68,693,000. Finally, Capital International Investors increased its stake in shares of GMS by 15.0% in the fourth quarter. Capital International Investors now owns 611,792 shares of the company’s stock worth $50,430,000 after buying an additional 79,792 shares during the last quarter. Hedge funds and other 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.