GMS (NYSE:GMS) Downgraded to Hold at StockNews.com

StockNews.com lowered shares of GMS (NYSE:GMS) from a buy rating to a hold rating in a report released on Friday morning.

GMS has been the topic of several other research reports. Truist Financial decreased their target price on GMS from $105.00 to $95.00 and set a hold rating on the stock in a research report on Friday, June 21st. DA Davidson reduced their price objective on GMS from $105.00 to $97.00 and set a buy rating on the stock in a research report on Tuesday, June 25th. Loop Capital reduced their price objective on GMS from $100.00 to $85.00 and set a hold rating on the stock in a research report on Friday, June 21st. Stephens reduced their price objective on GMS from $112.00 to $95.00 and set an overweight rating on the stock in a research report on Monday, July 1st. Finally, Royal Bank of Canada reduced their price objective on GMS from $92.00 to $85.00 and set a sector perform rating on the stock in a research report on Friday, June 21st. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $90.38.

GMS Stock Performance

Shares of NYSE:GMS traded up $0.75 during trading on Friday, hitting $88.76. The stock had a trading volume of 183,566 shares, compared to its average volume of 373,315. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 13.19 and a beta of 1.62. GMS has a 12-month low of $56.58 and a 12-month high of $101.04. The stock has a 50-day simple moving average of $87.39 and a two-hundred day simple moving average of $90.46. The company has a quick ratio of 1.40, a current ratio of 2.17 and a debt-to-equity ratio of 0.84.

GMS (NYSE:GMS) last issued its quarterly earnings data on Thursday, June 20th. The company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.04 by ($0.11). GMS had a net margin of 5.02% and a return on equity of 24.05%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the business posted $2.11 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities research analysts expect that GMS will post 8.64 earnings per share for the current fiscal year.

Insider Buying and Selling at GMS

In other GMS news, SVP Craig D. Apolinsky sold 7,900 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $90.32, for a total transaction of $713,528.00. Following the transaction, the senior vice president now owns 10,671 shares of the company’s stock, valued at approximately $963,804.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Blue Trust Inc. raised its position in GMS by 86.4% in 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 period. GAMMA Investing LLC purchased a new position in GMS in the fourth quarter valued at about $32,000. Hexagon Capital Partners LLC raised its position in GMS by 233.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 430 shares of the company’s stock valued at $35,000 after purchasing an additional 301 shares during the period. EntryPoint Capital LLC purchased a new position in GMS in the first quarter valued at about $77,000. Finally, LRI Investments LLC purchased a new position in GMS in the first quarter valued at about $127,000. 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.