GMS (NYSE:GMS) Upgraded at StockNews.com

StockNews.com upgraded shares of GMS (NYSE:GMS) from a buy rating to a strong-buy rating in a research note published on Wednesday morning.

Several other research firms have also recently issued reports on GMS. Royal Bank of Canada lifted their price objective on GMS from $84.00 to $92.00 and gave the stock a sector perform rating in a report on Friday, March 1st. Robert W. Baird boosted their target price on GMS from $92.00 to $105.00 and gave the company an outperform rating in a research report on Friday, March 1st. Truist Financial boosted their target price on GMS from $72.00 to $88.00 and gave the company a hold rating in a research report on Friday, March 1st. Stephens boosted their price target on shares of GMS from $87.00 to $98.00 and gave the stock an overweight rating in a research note on Friday, January 26th. Finally, Barclays boosted their price target on shares of GMS from $75.00 to $93.00 and gave the stock an equal weight rating in a research note on Tuesday, March 5th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $89.63.

GMS Stock Performance

NYSE GMS opened at $92.87 on Wednesday. The stock has a 50-day simple moving average of $93.33 and a two-hundred day simple moving average of $80.37. The firm has a market capitalization of $3.70 billion, a P/E ratio of 13.01 and a beta of 1.73. GMS has a fifty-two week low of $54.99 and a fifty-two week high of $101.04. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.47 and a current ratio of 2.40.

GMS (NYSE:GMS) last posted its earnings results on Thursday, February 29th. The company reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). GMS had a net margin of 5.48% and a return on equity of 25.65%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the business earned $1.85 earnings per share. GMS’s revenue was up 1.9% on a year-over-year basis. On average, equities analysts forecast that GMS will post 8.36 earnings per share for the current year.

Insider Buying and Selling

In other GMS news, COO George T. Hendren sold 10,554 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $96.49, for a total value of $1,018,355.46. Following the completion of the transaction, the chief operating officer now owns 23,261 shares in the company, valued at $2,244,453.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other GMS news, COO George T. Hendren sold 10,554 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $96.49, for a total value of $1,018,355.46. Following the completion of the transaction, the chief operating officer now owns 23,261 shares in the company, valued at $2,244,453.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Craig D. Apolinsky sold 20,000 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $96.57, for a total transaction of $1,931,400.00. Following the completion of the transaction, the senior vice president now owns 10,360 shares of the company’s stock, valued at approximately $1,000,465.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,820 shares of company stock worth $3,561,192. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On GMS

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SummerHaven Investment Management LLC raised its holdings in shares of GMS by 1.3% in the fourth quarter. SummerHaven Investment Management LLC now owns 10,231 shares of the company’s stock valued at $843,000 after buying an additional 136 shares during the last quarter. Strs Ohio raised its holdings in shares of GMS by 1.3% in the third quarter. Strs Ohio now owns 16,200 shares of the company’s stock valued at $1,036,000 after buying an additional 200 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of GMS by 131.1% in the fourth quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $31,000 after buying an additional 211 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of GMS by 5.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 4,683 shares of the company’s stock valued at $300,000 after buying an additional 232 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of GMS by 1.4% in the third quarter. Jennison Associates LLC now owns 16,812 shares of the company’s stock valued at $1,075,000 after buying an additional 237 shares during the last quarter. 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.