GMS (NYSE:GMS) Price Target Cut to $94.00 by Analysts at DA Davidson

GMS (NYSE:GMS) had its price objective lowered by research analysts at DA Davidson from $97.00 to $94.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. DA Davidson’s price target indicates a potential downside of 2.60% from the stock’s previous close.

Several other brokerages have also issued reports on GMS. StockNews.com lowered GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $86.00 price objective (up previously from $78.00) on shares of GMS in a research report on Friday. Loop Capital lifted their target price on GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, November 25th. Barclays cut their price target on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, September 9th. Finally, Robert W. Baird reduced their target price on shares of GMS from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $91.63.

GMS Trading Down 1.3 %

Shares of NYSE:GMS traded down $1.25 during trading on Friday, hitting $96.51. The company had a trading volume of 191,956 shares, compared to its average volume of 382,056. The company has a fifty day simple moving average of $95.56 and a two-hundred day simple moving average of $91.00. GMS has a one year low of $68.13 and a one year high of $105.54. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 15.93 and a beta of 1.68. 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 (NYSE:GMS) last posted its quarterly earnings data on Thursday, December 5th. The company reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.24). The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. GMS had a net margin of 4.45% and a return on equity of 22.02%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.30 EPS. As a group, equities analysts forecast that GMS will post 7.95 earnings per share for the current year.

Insider Activity at GMS

In other GMS news, COO George T. Hendren sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The stock was 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 directly owns 23,772 shares in the company, valued at approximately $2,427,834.36. This trade represents a 17.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GMS

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP lifted its holdings in GMS by 37.1% in 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 period. State of New Jersey Common Pension Fund D boosted its holdings in GMS by 0.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 20,805 shares of the company’s stock valued at $1,884,000 after purchasing an additional 113 shares during the period. QRG Capital Management Inc. grew its holdings in GMS by 2.0% during the 2nd quarter. QRG Capital Management Inc. now owns 8,231 shares of the company’s stock worth $664,000 after acquiring an additional 161 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of GMS by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 10,509 shares of the company’s stock valued at $847,000 after purchasing an additional 162 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of GMS by 86.4% during the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company’s stock worth $30,000 after purchasing an additional 171 shares during the last quarter. 95.28% of the stock is currently owned by institutional investors and hedge funds.

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.