GMS (NYSE:GMS) Hits New 12-Month High on Analyst Upgrade

Shares of GMS Inc. (NYSE:GMS) hit a new 52-week high during trading on Monday after Loop Capital raised their price target on the stock from $85.00 to $93.00. Loop Capital currently has a hold rating on the stock. GMS traded as high as $103.97 and last traded at $103.97, with a volume of 6843 shares. The stock had previously closed at $101.70.

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

Insider Activity at GMS

In related news, COO George T. Hendren sold 5,000 shares of GMS stock in a transaction dated Monday, November 11th. The shares were 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 directly owns 23,772 shares of the company’s stock, valued at approximately $2,427,834.36. The trade was a 17.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Blue Trust Inc. lifted its stake in shares of GMS by 86.4% during the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company’s stock worth $30,000 after acquiring an additional 171 shares during the last quarter. Quarry LP increased its stake in GMS by 37.1% in the second quarter. Quarry LP now owns 403 shares of the company’s stock worth $32,000 after purchasing an additional 109 shares during the period. GAMMA Investing LLC lifted its position in shares of GMS by 138.8% during the third quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock worth $56,000 after purchasing an additional 361 shares during the last quarter. KBC Group NV boosted its stake in shares of GMS by 31.9% during the third quarter. KBC Group NV now owns 1,162 shares of the company’s stock valued at $105,000 after purchasing an additional 281 shares during the period. Finally, LRI Investments LLC bought a new position in shares of GMS in the first quarter worth about $127,000. Hedge funds and other institutional investors own 95.28% of the company’s stock.

GMS Stock Up 2.1 %

The company’s 50 day moving average is $93.61 and its 200 day moving average is $90.55. The company has a market cap of $4.08 billion, a PE ratio of 17.19 and a beta of 1.68. The company has a current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90.

GMS (NYSE:GMS) last issued its 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 company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the business posted $2.40 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. As a group, analysts predict that GMS Inc. will post 7.95 earnings per share for the current fiscal year.

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.