GMS (NYSE:GMS) Downgraded to “Neutral” Rating by DA Davidson

GMS (NYSE:GMS) was downgraded by research analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research note issued on Tuesday,Briefing.com Automated Import reports. They presently have a $97.00 target price on the stock. DA Davidson’s target price would suggest a potential downside of 6.57% from the stock’s current price.

Several other analysts also recently weighed in on GMS. Loop Capital boosted their price target on GMS from $85.00 to $93.00 and gave the company a “hold” rating in a research note on Monday. Barclays dropped their price target on GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, September 9th. StockNews.com downgraded GMS from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Truist Financial dropped their price target on GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Finally, Robert W. Baird upped their target price on GMS from $96.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $92.50.

GMS Trading Up 2.1 %

GMS opened at $103.82 on Tuesday. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 17.13 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 12 month low of $65.46 and a 12 month high of $105.54. The stock has a fifty day moving average price of $93.61 and a 200-day moving average price of $90.55.

GMS (NYSE:GMS) last announced 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 for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company earned $2.40 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts anticipate that GMS will post 7.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other GMS news, COO George T. Hendren sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $102.13, for a total transaction 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 $2,427,834.36. This represents a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GMS

A number of hedge funds have recently made changes to their positions in GMS. Blue Trust Inc. raised its holdings in shares of GMS by 86.4% during the second quarter. Blue Trust Inc. now owns 369 shares of the company’s stock valued at $30,000 after acquiring an additional 171 shares during the last quarter. Quarry LP raised its holdings in shares of GMS by 37.1% during the second quarter. Quarry LP now owns 403 shares of the company’s stock valued at $32,000 after acquiring an additional 109 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of GMS by 138.8% during the third quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock valued at $56,000 after acquiring an additional 361 shares during the last quarter. KBC Group NV raised its holdings in shares of GMS by 31.9% during the third quarter. KBC Group NV now owns 1,162 shares of the company’s stock valued at $105,000 after acquiring an additional 281 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of GMS during the second quarter valued at approximately $121,000. Institutional investors and hedge funds own 95.28% of the company’s stock.

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.