Royal Bank of Canada Has Lowered Expectations for GMS (NYSE:GMS) Stock Price

GMS (NYSE:GMS) had its target price lowered by equities research analysts at Royal Bank of Canada from $82.00 to $65.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective points to a potential downside of 10.65% from the company’s current price.

Several other equities analysts have also issued reports on GMS. Loop Capital lifted their price objective on shares of GMS from $85.00 to $93.00 and gave the company a “hold” rating in a report on Monday, November 25th. DA Davidson cut their price target on shares of GMS from $97.00 to $94.00 and set a “neutral” rating on the stock in a research note on Friday, December 6th. Robert W. Baird reduced their target price on GMS from $110.00 to $93.00 and set an “outperform” rating for the company in a research note on Friday. Truist Financial dropped their target price on GMS from $97.00 to $80.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Barclays dropped their price objective on shares of GMS from $93.00 to $80.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, GMS has a consensus rating of “Hold” and an average target price of $85.71.

GMS Stock Down 0.2 %

NYSE GMS traded down $0.18 during mid-day trading on Friday, hitting $72.75. The company’s stock had a trading volume of 231,335 shares, compared to its average volume of 393,212. GMS has a twelve month low of $65.88 and a twelve month high of $105.54. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 13.33 and a beta of 1.73. The company’s 50 day simple moving average is $82.53 and its 200 day simple moving average is $89.02. The company has a current ratio of 2.23, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97.

GMS (NYSE:GMS) last released its quarterly earnings data on Thursday, March 6th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.47). The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.29 billion. GMS had a net margin of 3.92% and a return on equity of 20.67%. Analysts anticipate that GMS will post 7.26 earnings per share for the current year.

Institutional Investors Weigh In On GMS

A number of institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC boosted its stake in shares of GMS by 1.8% in the third quarter. Janney Montgomery Scott LLC now owns 24,797 shares of the company’s stock valued at $2,246,000 after purchasing an additional 428 shares during the period. Meritage Portfolio Management raised its stake in GMS by 11.5% during the 3rd quarter. Meritage Portfolio Management now owns 4,747 shares of the company’s stock worth $430,000 after acquiring an additional 490 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of GMS by 0.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 20,805 shares of the company’s stock worth $1,884,000 after acquiring an additional 113 shares during the last quarter. GSA Capital Partners LLP acquired a new position in GMS in the third quarter valued at $245,000. Finally, Victory Capital Management Inc. raised its stake in shares of GMS by 6.4% during the third quarter. Victory Capital Management Inc. now owns 101,541 shares of the company’s stock worth $9,197,000 after purchasing an additional 6,136 shares during the last quarter. 95.28% of the stock is currently owned by institutional investors and hedge funds.

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.