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

GMS (NYSE:GMS) had its price objective hoisted by Loop Capital from $85.00 to $93.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a hold rating on the stock.

GMS has been the subject of a number of other reports. Barclays reduced their price objective on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, September 9th. Robert W. Baird raised their price objective on shares of GMS from $96.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com downgraded shares of GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Finally, Truist Financial reduced their price objective on shares of GMS from $95.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 30th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $92.50.

GMS Price Performance

Shares of GMS stock opened at $100.22 on Monday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.31 and a quick ratio of 1.45. GMS has a fifty-two week low of $65.46 and a fifty-two week high of $105.54. The firm has a fifty day moving average price of $94.31 and a two-hundred day moving average price of $90.73. The company has a market cap of $3.94 billion, a PE ratio of 16.54 and a beta of 1.68.

GMS (NYSE:GMS) last issued its quarterly earnings results on Thursday, August 29th. The company reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.21). GMS had a net margin of 4.45% and a return on equity of 22.02%. The company 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 company earned $2.40 earnings per share. GMS’s revenue for the quarter was up 2.8% on a year-over-year basis. Analysts expect that GMS will post 7.95 EPS for the current year.

Insider Buying and Selling

In other GMS news, COO George T. Hendren sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $102.13, for a total value of $510,650.00. Following the completion of the sale, the chief operating officer now owns 23,772 shares in the company, valued at approximately $2,427,834.36. This trade represents a 17.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GMS

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank increased its position in GMS by 157.0% in the 1st quarter. Comerica Bank now owns 48,284 shares of the company’s stock valued at $4,700,000 after acquiring an additional 29,495 shares in the last quarter. Victory Capital Management Inc. increased its position in GMS by 6.4% in the 3rd quarter. Victory Capital Management Inc. now owns 101,541 shares of the company’s stock valued at $9,197,000 after acquiring an additional 6,136 shares in the last quarter. Intech Investment Management LLC increased its position in GMS by 148.8% in the 3rd quarter. Intech Investment Management LLC now owns 16,511 shares of the company’s stock valued at $1,495,000 after acquiring an additional 9,876 shares in the last quarter. Algert Global LLC increased its position in GMS by 22.8% in the 2nd quarter. Algert Global LLC now owns 151,535 shares of the company’s stock valued at $12,215,000 after acquiring an additional 28,137 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in GMS by 630.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 43,846 shares of the company’s stock valued at $4,268,000 after acquiring an additional 37,846 shares in the last quarter. Institutional investors and hedge funds own 95.28% of the company’s stock.

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.