GMS (NYSE:GMS) Sets New 1-Year Low – Here’s Why

GMS Inc. (NYSE:GMS) reached a new 52-week low on Thursday . The company traded as low as $70.00 and last traded at $83.85, with a volume of 196 shares. The stock had previously closed at $83.85.

Analyst Upgrades and Downgrades

Several brokerages have commented on GMS. Truist Financial raised their price objective on GMS from $90.00 to $97.00 and gave the company a “hold” rating in a report on Monday, December 9th. DA Davidson cut their price target on shares of GMS from $97.00 to $94.00 and set a “neutral” rating for the company in a report on Friday, December 6th. Robert W. Baird dropped 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, December 6th. Loop Capital lifted their price objective on GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, November 25th. Finally, Barclays reduced their price target on GMS from $93.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, GMS presently has a consensus rating of “Hold” and a consensus target price of $93.57.

GMS Trading Down 0.3 %

The business’s 50-day moving average price is $85.91 and its two-hundred day moving average price is $90.18. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.23 and a quick ratio of 1.44. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 15.37 and a beta of 1.72.

GMS (NYSE:GMS) last released its quarterly earnings results 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). GMS had a return on equity of 20.67% and a net margin of 3.92%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the company earned $2.30 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. Equities analysts expect that GMS Inc. will post 7.26 earnings per share for the current year.

Institutional Trading of GMS

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its position in GMS by 38.7% during the fourth quarter. FMR LLC now owns 5,868,782 shares of the company’s stock worth $497,849,000 after purchasing an additional 1,636,612 shares during the period. Pacer Advisors Inc. bought a new position in GMS in the fourth quarter worth $109,277,000. Charles Schwab Investment Management Inc. raised its stake in shares of GMS by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 609,715 shares of the company’s stock worth $51,722,000 after buying an additional 15,664 shares during the last quarter. Reinhart Partners LLC. boosted its position in shares of GMS by 2.3% in the 4th quarter. Reinhart Partners LLC. now owns 541,519 shares of the company’s stock worth $45,937,000 after purchasing an additional 12,099 shares during the last quarter. Finally, Verition Fund Management LLC increased its stake in shares of GMS by 48.3% in the 3rd quarter. Verition Fund Management LLC now owns 340,388 shares of the company’s stock valued at $30,829,000 after acquiring an additional 110,876 shares during the last quarter. 95.28% of the stock is currently owned by institutional investors.

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.