Barclays Issues Pessimistic Forecast for GMS (NYSE:GMS) Stock Price

GMS (NYSE:GMS) had its price target cut by stock analysts at Barclays from $93.00 to $80.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential downside of 5.05% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Loop Capital increased their price objective on shares of GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, November 25th. Robert W. Baird cut their target price on GMS from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, December 6th. Truist Financial upped their target price on GMS from $90.00 to $97.00 and gave the company a “hold” rating in a research report on Monday, December 9th. DA Davidson reduced their price objective on GMS from $97.00 to $94.00 and set a “neutral” rating for the company in a research note on Friday, December 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $86.00 price target (up from $78.00) on shares of GMS in a report on Friday, December 6th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, GMS currently has a consensus rating of “Hold” and a consensus target price of $93.57.

GMS Price Performance

GMS stock opened at $84.26 on Thursday. GMS has a 1 year low of $77.29 and a 1 year high of $105.54. The company’s fifty day moving average price is $91.80 and its 200 day moving average price is $90.43. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.23. The stock has a market capitalization of $3.27 billion, a P/E ratio of 15.49 and a beta of 1.73.

GMS (NYSE:GMS) last released its earnings results on Thursday, December 5th. The company reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.24). GMS had a return on equity of 20.67% and a net margin of 3.92%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the business earned $2.30 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, equities research analysts anticipate that GMS will post 7.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO George T. Hendren sold 5,000 shares of the business’s stock in a transaction dated 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. FMR LLC raised its holdings in shares of GMS by 25.3% in the 3rd quarter. FMR LLC now owns 4,232,170 shares of the company’s stock worth $383,308,000 after purchasing an additional 854,987 shares during the period. Pacer Advisors Inc. increased its holdings in GMS by 0.4% in the second quarter. Pacer Advisors Inc. now owns 1,474,821 shares of the company’s stock valued at $118,885,000 after buying an additional 6,396 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in GMS by 4.8% in the second quarter. Westwood Holdings Group Inc. now owns 739,908 shares of the company’s stock worth $59,644,000 after purchasing an additional 34,205 shares during the period. Charles Schwab Investment Management Inc. raised its stake in GMS by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 594,051 shares of the company’s stock worth $53,803,000 after acquiring an additional 2,674 shares during the period. Finally, Reinhart Partners LLC. grew its stake in GMS by 2.3% during the 4th quarter. Reinhart Partners LLC. now owns 541,519 shares of the company’s stock worth $45,937,000 after buying an additional 12,099 shares during the last quarter. 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.