GMS (NYSE:GMS) Price Target Raised to $93.00 at Loop Capital

GMS (NYSE:GMS) had its price target increased by Loop Capital from $85.00 to $93.00 in a research report report published on Monday morning,Benzinga reports. Loop Capital currently has a hold rating on the stock.

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

GMS Stock Down 0.3 %

Shares of NYSE GMS opened at $100.22 on Monday. The firm has a market capitalization of $3.94 billion, a PE ratio of 16.54 and a beta of 1.68. The company has a current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90. GMS has a 1 year low of $65.46 and a 1 year high of $105.54. The firm’s 50-day moving average is $94.31 and its 200-day moving average is $90.73.

GMS (NYSE:GMS) last issued its 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). GMS had a net margin of 4.45% and a return on equity of 22.02%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the business posted $2.40 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities analysts expect that GMS will post 7.95 EPS for the current year.

Insider Buying and Selling at GMS

In other news, COO George T. Hendren sold 5,000 shares of GMS stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $102.13, for a total value of $510,650.00. Following the sale, the chief operating officer now directly owns 23,772 shares in the company, valued at $2,427,834.36. This trade represents a 17.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.90% of the company’s stock.

Institutional Trading of GMS

A number of hedge funds and other institutional investors have recently made changes to their positions in GMS. Public Employees Retirement System of Ohio raised its holdings in shares of GMS by 630.8% in the first quarter. Public Employees Retirement System of Ohio now owns 43,846 shares of the company’s stock valued at $4,268,000 after purchasing an additional 37,846 shares during the last quarter. Comerica Bank raised its holdings in shares of GMS by 157.0% in the first quarter. Comerica Bank now owns 48,284 shares of the company’s stock valued at $4,700,000 after purchasing an additional 29,495 shares during the last quarter. Zimmer Partners LP acquired a new stake in shares of GMS in the first quarter valued at approximately $1,460,000. Virtu Financial LLC acquired a new position in GMS during the first quarter worth $475,000. Finally, Adams Wealth Management increased its holdings in GMS by 8.3% during the first quarter. Adams Wealth Management now owns 25,396 shares of the company’s stock worth $2,472,000 after buying an additional 1,940 shares during the last quarter. 95.28% of the stock is currently owned by institutional investors and hedge funds.

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.