GMS (NYSE:GMS) Price Target Lowered to $95.00 at Truist Financial

GMS (NYSE:GMS) had its price objective lowered by Truist Financial from $105.00 to $95.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a hold rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Barclays dropped their target price on shares of GMS from $93.00 to $81.00 and set an equal weight rating for the company in a research report on Friday. Royal Bank of Canada raised their target price on shares of GMS from $84.00 to $92.00 and gave the stock a sector perform rating in a research report on Friday, March 1st. Loop Capital dropped their target price on shares of GMS from $100.00 to $85.00 and set a hold rating for the company in a research report on Friday. Robert W. Baird dropped their target price on shares of GMS from $112.00 to $100.00 and set an outperform rating for the company in a research report on Friday. Finally, StockNews.com upgraded shares of GMS from a buy rating to a strong-buy rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, GMS has a consensus rating of Moderate Buy and a consensus price target of $88.88.

GMS Trading Down 3.1 %

Shares of GMS opened at $81.82 on Friday. The stock has a market capitalization of $3.26 billion, a P/E ratio of 11.46 and a beta of 1.72. The company has a quick ratio of 1.47, a current ratio of 2.40 and a debt-to-equity ratio of 0.69. The firm has a fifty day simple moving average of $92.35 and a two-hundred day simple moving average of $88.68. GMS has a twelve month low of $56.58 and a twelve month high of $101.04.

GMS (NYSE:GMS) last announced its quarterly earnings results on Thursday, June 20th. The company reported $1.93 earnings per share for the quarter, missing the consensus estimate of $2.04 by ($0.11). GMS had a net margin of 5.48% and a return on equity of 25.65%. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the company earned $2.11 EPS. The company’s quarterly revenue was up 8.4% on a year-over-year basis. On average, research analysts anticipate that GMS will post 8.36 EPS for the current year.

Insider Buying and Selling

In other GMS news, SVP Craig D. Apolinsky sold 20,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 10,360 shares in the company, valued at approximately $1,000,465.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by company insiders.

Institutional Trading of GMS

Institutional investors and hedge funds have recently bought and sold shares of the company. Allianz Asset Management GmbH increased its stake in GMS by 116.5% during the 4th quarter. Allianz Asset Management GmbH now owns 24,732 shares of the company’s stock valued at $2,039,000 after purchasing an additional 13,306 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in GMS by 99.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 31,000 shares of the company’s stock valued at $1,983,000 after purchasing an additional 15,465 shares in the last quarter. QRG Capital Management Inc. bought a new stake in GMS during the 3rd quarter valued at about $463,000. Reinhart Partners LLC. increased its stake in GMS by 2.0% during the 1st quarter. Reinhart Partners LLC. now owns 487,549 shares of the company’s stock valued at $47,458,000 after purchasing an additional 9,441 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in GMS by 17.5% during the 3rd quarter. Lazard Asset Management LLC now owns 190,477 shares of the company’s stock valued at $12,184,000 after purchasing an additional 28,311 shares in the last quarter. 95.28% of the stock is currently owned by 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.