GMS (NYSE:GMS) Downgraded to “Hold” at StockNews.com

StockNews.com lowered shares of GMS (NYSE:GMS) from a buy rating to a hold rating in a research report released on Monday.

GMS has been the topic of several other research reports. Robert W. Baird dropped their price objective on shares of GMS from $112.00 to $100.00 and set an outperform rating on the stock in a report on Friday, June 21st. Stephens lowered their price target on GMS from $112.00 to $95.00 and set an overweight rating on the stock in a research note on Monday, July 1st. DA Davidson reduced their price objective on GMS from $105.00 to $97.00 and set a buy rating for the company in a research report on Tuesday, June 25th. Truist Financial decreased their price objective on GMS from $95.00 to $90.00 and set a hold rating on the stock in a report on Friday, August 30th. Finally, Royal Bank of Canada cut their target price on GMS from $92.00 to $85.00 and set a sector perform rating for the company in a research note on Friday, June 21st. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $89.75.

GMS Stock Performance

GMS opened at $83.63 on Monday. The company has a quick ratio of 1.40, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. The stock’s 50 day moving average price is $88.20 and its two-hundred day moving average price is $91.01. The firm has a market capitalization of $3.32 billion, a P/E ratio of 12.43 and a beta of 1.67. GMS has a 12-month low of $56.58 and a 12-month high of $101.04.

GMS (NYSE:GMS) last posted its quarterly earnings data on Thursday, August 29th. The company reported $1.93 earnings per share 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 in the prior year, the company posted $2.40 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, equities analysts forecast that GMS will post 8.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Craig D. Apolinsky sold 7,900 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $90.32, for a total value of $713,528.00. Following the sale, the senior vice president now owns 10,671 shares in the company, valued at approximately $963,804.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of GMS

Several hedge funds have recently modified their holdings of GMS. Westwood Holdings Group Inc. bought a new position in shares of GMS in the first quarter valued at about $68,693,000. American Century Companies Inc. raised its stake in shares of GMS by 28.5% in the second quarter. American Century Companies Inc. now owns 1,830,833 shares of the company’s stock worth $147,583,000 after acquiring an additional 406,406 shares during the last quarter. LSV Asset Management raised its stake in shares of GMS by 103.0% in the second quarter. LSV Asset Management now owns 690,820 shares of the company’s stock worth $55,687,000 after acquiring an additional 350,478 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. acquired a new position in shares of GMS during the second quarter worth approximately $24,601,000. Finally, Interval Partners LP bought a new stake in shares of GMS during the first quarter valued at approximately $8,761,000. 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.