Truist Financial Cuts GMS (NYSE:GMS) Price Target to $80.00

GMS (NYSE:GMS) had its target price cut by Truist Financial from $97.00 to $80.00 in a report published on Friday,Benzinga reports. They currently have a hold rating on the stock.

Other equities analysts have also issued reports about the stock. DA Davidson decreased their target price on shares of GMS from $97.00 to $94.00 and set a “neutral” rating on the stock in a report on Friday, December 6th. Barclays decreased their target price on shares of GMS from $93.00 to $80.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Loop Capital boosted their target price on shares of GMS from $85.00 to $93.00 and gave the company a “hold” rating in a report on Monday, November 25th. Robert W. Baird decreased their target price on shares of GMS from $110.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $86.00 target price (up from $78.00) on shares of GMS in a report on Friday, December 6th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, GMS presently has an average rating of “Hold” and an average price target of $83.71.

GMS Stock Performance

GMS opened at $74.17 on Friday. The firm has a market capitalization of $2.88 billion, a PE ratio of 13.63 and a beta of 1.73. GMS has a twelve month low of $65.88 and a twelve month high of $105.54. The firm’s 50-day moving average price is $82.32 and its 200 day moving average price is $88.85. The company has a current ratio of 2.23, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97.

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

Institutional Investors Weigh In On GMS

A number of institutional investors and hedge funds have recently made changes to their positions in GMS. FMR LLC raised its stake in shares of GMS by 38.7% in the 4th quarter. FMR LLC now owns 5,868,782 shares of the company’s stock valued at $497,849,000 after acquiring an additional 1,636,612 shares during the period. Pacer Advisors Inc. purchased a new stake in GMS during the 4th quarter worth approximately $109,277,000. Coliseum Capital Management LLC increased its stake in GMS by 135.0% during the 4th quarter. Coliseum Capital Management LLC now owns 1,889,489 shares of the company’s stock worth $160,285,000 after buying an additional 1,085,551 shares during the period. Granite Investment Partners LLC purchased a new stake in GMS during the 4th quarter worth approximately $11,913,000. Finally, Weiss Asset Management LP purchased a new stake in GMS during the 3rd quarter worth approximately $12,490,000. 95.28% of the stock is owned by hedge funds and other institutional investors.

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.