GMS (NYSE:GMS) Stock Price Expected to Rise, Loop Capital Analyst Says

GMS (NYSE:GMS) had its price objective increased by analysts at Loop Capital from $85.00 to $93.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Loop Capital’s target price points to a potential downside of 7.44% from the company’s previous close.

Several other research firms also recently issued reports on GMS. Robert W. Baird lifted their price objective on GMS from $96.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Barclays decreased their price target on GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, September 9th. StockNews.com downgraded GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Finally, Truist Financial decreased their price target on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $92.50.

GMS Trading Down 3.2 %

Shares of GMS stock opened at $100.48 on Monday. The company has a current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90. The stock has a market cap of $3.95 billion, a PE ratio of 17.13 and a beta of 1.68. GMS has a 12-month low of $65.46 and a 12-month high of $105.54. The company has a 50-day moving average of $93.90 and a two-hundred day moving average of $90.62.

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

Insider Transactions at GMS

In related news, COO George T. Hendren sold 5,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $102.13, for a total value of $510,650.00. Following the completion of the transaction, the chief operating officer now directly owns 23,772 shares of the company’s stock, valued at approximately $2,427,834.36. This represents a 17.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is currently owned by insiders.

Institutional Trading of GMS

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC boosted its position in GMS by 25.3% during the third quarter. FMR LLC now owns 4,232,170 shares of the company’s stock valued at $383,308,000 after purchasing an additional 854,987 shares during the last quarter. American Century Companies Inc. increased its stake in shares of GMS by 28.5% during the 2nd quarter. American Century Companies Inc. now owns 1,830,833 shares of the company’s stock worth $147,583,000 after purchasing an additional 406,406 shares during the last quarter. LSV Asset Management lifted its stake in GMS by 103.0% in the 2nd quarter. LSV Asset Management now owns 690,820 shares of the company’s stock valued at $55,687,000 after purchasing an additional 350,478 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. acquired a new position in GMS during the second quarter worth approximately $24,601,000. Finally, Weiss Asset Management LP bought a new stake in GMS in the third quarter valued at approximately $12,490,000. 95.28% of the stock is currently owned by institutional investors and hedge funds.

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.