Robert W. Baird Cuts GMS (NYSE:GMS) Price Target to $110.00

GMS (NYSE:GMS) had its price objective lowered by Robert W. Baird from $115.00 to $110.00 in a research report released on Friday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other analysts also recently issued research reports about the company. StockNews.com downgraded GMS from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Loop Capital increased their target price on GMS from $85.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, November 25th. DA Davidson downgraded GMS from a “buy” rating to a “neutral” rating and set a $97.00 target price for the company. in a research note on Tuesday, November 26th. Truist Financial reduced their price objective on GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, August 30th. Finally, Barclays reduced their price objective on GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, September 9th. Six investment 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 stock has an average rating of “Hold” and a consensus price target of $93.25.

GMS Stock Performance

Shares of NYSE GMS opened at $97.05 on Friday. The business’s 50-day simple moving average is $95.68 and its 200-day simple moving average is $90.98. GMS has a 52 week low of $68.13 and a 52 week high of $105.54. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 17.84 and a beta of 1.68. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.45 and a current ratio of 2.31.

GMS (NYSE:GMS) last announced its earnings results on Thursday, December 5th. The company reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.24). GMS had a net margin of 4.45% and a return on equity of 22.02%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company earned $2.30 EPS. GMS’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, equities research analysts expect that GMS will post 7.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO George T. Hendren sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $102.13, for a total transaction of $510,650.00. Following the completion of the transaction, the chief operating officer now owns 23,772 shares in the company, valued at $2,427,834.36. This trade represents a 17.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GMS

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in GMS by 86.4% during the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company’s stock valued at $30,000 after purchasing an additional 171 shares in the last quarter. Quarry LP increased its holdings in GMS by 37.1% during the 2nd quarter. Quarry LP now owns 403 shares of the company’s stock valued at $32,000 after purchasing an additional 109 shares in the last quarter. GAMMA Investing LLC increased its holdings in GMS by 138.8% during the 3rd quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock valued at $56,000 after purchasing an additional 361 shares in the last quarter. KBC Group NV increased its holdings in GMS by 31.9% during the 3rd quarter. KBC Group NV now owns 1,162 shares of the company’s stock valued at $105,000 after purchasing an additional 281 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in GMS during the 2nd quarter valued at $121,000. Institutional investors own 95.28% of the company’s stock.

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.