GMS (NYSE:GMS) Stock Rating Lowered by DA Davidson

GMS (NYSE:GMS) was downgraded by research analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. They currently have a $97.00 price target on the stock. DA Davidson’s target price would indicate a potential downside of 3.21% from the company’s previous close.

Other analysts also recently issued research reports about the company. Robert W. Baird raised their price target on GMS from $96.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Barclays cut their price target on GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, September 9th. StockNews.com downgraded GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Loop Capital lifted their target price on GMS from $85.00 to $93.00 and gave the company a “hold” rating in a research note on Monday. Finally, Truist Financial cut their target price on GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, GMS has an average rating of “Hold” and a consensus price target of $92.50.

GMS Trading Down 0.3 %

Shares of NYSE GMS opened at $100.22 on Tuesday. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 16.71 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 current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90. The stock’s 50 day simple moving average is $94.12 and its 200 day simple moving average is $90.66.

GMS (NYSE:GMS) last announced its quarterly earnings results on Thursday, August 29th. The company reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.21). The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. GMS had a return on equity of 22.02% and a net margin of 4.45%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the business posted $2.40 EPS. Equities research analysts expect that GMS will post 7.95 EPS for the current year.

Insider Buying and Selling

In related news, COO George T. Hendren sold 5,000 shares of GMS stock in a transaction on Monday, November 11th. The stock was sold at an average price of $102.13, for a total value of $510,650.00. Following the transaction, the chief operating officer now directly owns 23,772 shares in the company, valued at $2,427,834.36. The trade was a 17.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP grew its holdings in shares of GMS by 37.1% during the second quarter. Quarry LP now owns 403 shares of the company’s stock valued at $32,000 after buying an additional 109 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of GMS by 0.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 20,805 shares of the company’s stock valued at $1,884,000 after buying an additional 113 shares in the last quarter. QRG Capital Management Inc. boosted its position in GMS by 2.0% during the second quarter. QRG Capital Management Inc. now owns 8,231 shares of the company’s stock valued at $664,000 after purchasing an additional 161 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in GMS by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 10,509 shares of the company’s stock valued at $847,000 after purchasing an additional 162 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in GMS by 86.4% during the second quarter. Blue Trust Inc. now owns 369 shares of the company’s stock valued at $30,000 after purchasing an additional 171 shares during the last quarter. Hedge funds and other 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.