PNC Financial Services Group Inc. Trims Holdings in GMS Inc. (NYSE:GMS)

PNC Financial Services Group Inc. reduced its holdings in shares of GMS Inc. (NYSE:GMS) by 54.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,157 shares of the company’s stock after selling 3,817 shares during the quarter. PNC Financial Services Group Inc.’s holdings in GMS were worth $260,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GMS. Tower Research Capital LLC TRC raised its position in shares of GMS by 1,828.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,768 shares of the company’s stock valued at $433,000 after acquiring an additional 6,417 shares in the last quarter. Gotham Asset Management LLC raised its position in shares of GMS by 4.1% during the 3rd quarter. Gotham Asset Management LLC now owns 16,339 shares of the company’s stock valued at $1,045,000 after acquiring an additional 644 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of 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 acquiring an additional 28,311 shares in the last quarter. AQR Capital Management LLC raised its position in shares of GMS by 17.1% during the 3rd quarter. AQR Capital Management LLC now owns 83,214 shares of the company’s stock valued at $5,323,000 after acquiring an additional 12,177 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new stake in GMS in the third quarter worth $634,000. 95.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GMS shares. 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. Barclays dropped their target price on GMS from $93.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. StockNews.com lowered GMS from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 26th. Truist Financial dropped their target price on GMS from $105.00 to $95.00 and set a “hold” rating on the stock in a research report on Friday, June 21st. Finally, DA Davidson dropped their target price on GMS from $105.00 to $97.00 and set a “buy” rating on the stock in a research report on Tuesday, June 25th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.38.

GMS Trading Down 3.1 %

Shares of GMS stock opened at $78.15 on Tuesday. The stock has a 50-day simple moving average of $90.92 and a 200 day simple moving average of $89.17. GMS Inc. has a fifty-two week low of $56.58 and a fifty-two week high of $101.04. The stock has a market capitalization of $3.10 billion, a P/E ratio of 11.61 and a beta of 1.63. The company has a quick ratio of 1.40, a current ratio of 2.17 and a debt-to-equity ratio of 0.84.

GMS (NYSE:GMS) last announced its 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 5.02% and a return on equity of 24.05%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the business earned $2.11 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts expect that GMS Inc. will post 8.58 earnings per share for the current fiscal year.

GMS 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.