Royal Bank of Canada Cuts GMS (NYSE:GMS) Price Target to $65.00

GMS (NYSE:GMS) had its price objective decreased by Royal Bank of Canada from $82.00 to $65.00 in a research report released on Friday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Loop Capital raised their price objective on GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, November 25th. DA Davidson cut their target price on GMS from $97.00 to $94.00 and set a “neutral” rating on the stock in a research report on Friday, December 6th. Barclays cut their target price on GMS from $93.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Truist Financial cut their target price on GMS from $97.00 to $80.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Robert W. Baird cut their target price on GMS from $110.00 to $93.00 and set an “outperform” rating on the stock in a research report on Friday. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, GMS has an average rating of “Hold” and a consensus price target of $83.71.

GMS Price Performance

GMS stock opened at $74.17 on Friday. GMS has a 52-week low of $65.88 and a 52-week high of $105.54. The stock’s fifty day simple moving average is $82.32 and its 200-day simple moving average is $88.85. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 13.63 and a beta of 1.73.

GMS (NYSE:GMS) last posted its quarterly earnings data on Thursday, March 6th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.47). GMS had a return on equity of 20.67% and a net margin of 3.92%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.29 billion. Equities research analysts expect that GMS will post 7.26 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vise Technologies Inc. raised its position in GMS by 2.3% in the fourth quarter. Vise Technologies Inc. now owns 7,090 shares of the company’s stock valued at $601,000 after purchasing an additional 162 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in GMS by 24.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,380 shares of the company’s stock valued at $8,006,000 after purchasing an additional 18,598 shares during the period. Voloridge Investment Management LLC purchased a new position in GMS in the fourth quarter valued at about $2,643,000. Sherbrooke Park Advisers LLC grew its stake in shares of GMS by 4.0% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 5,536 shares of the company’s stock valued at $470,000 after acquiring an additional 211 shares in the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of GMS by 42.5% during the fourth quarter. ProShare Advisors LLC now owns 11,894 shares of the company’s stock valued at $1,009,000 after acquiring an additional 3,550 shares in the last quarter. 95.28% of the stock is owned by hedge funds and other institutional investors.

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.