Truist Financial Lowers GMS (NYSE:GMS) Price Target to $80.00

GMS (NYSE:GMS) had its target price reduced by Truist Financial from $97.00 to $80.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price indicates a potential upside of 11.38% from the company’s previous close.

A number of other analysts have also recently issued reports on the company. Barclays decreased their target price on GMS from $93.00 to $80.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Loop Capital boosted their price objective on GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, November 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $86.00 price target (up from $78.00) on shares of GMS in a research report on Friday, December 6th. DA Davidson dropped their price objective 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. Finally, Robert W. Baird reduced their target price on shares of GMS from $110.00 to $93.00 and set an “outperform” rating on the stock in a research report on Friday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $88.71.

GMS Trading Down 1.5 %

NYSE:GMS traded down $1.10 during trading hours on Friday, reaching $71.83. 157,756 shares of the company were exchanged, compared to its average volume of 392,036. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 13.19 and a beta of 1.73. The stock has a 50 day simple moving average of $82.53 and a 200 day simple moving average of $89.02. GMS has a 52-week low of $65.88 and a 52-week high of $105.54. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.23 and a quick ratio of 1.44.

GMS (NYSE:GMS) last issued its earnings results on Thursday, March 6th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.47). GMS had a net margin of 3.92% and a return on equity of 20.67%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.29 billion. As a group, analysts predict that GMS will post 7.26 EPS for the current year.

Institutional Investors Weigh In On GMS

A number of institutional investors have recently modified their holdings of GMS. AlphaQuest LLC increased its holdings in GMS by 1,710.5% in the fourth quarter. AlphaQuest LLC now owns 344 shares of the company’s stock valued at $29,000 after buying an additional 325 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of GMS during the 4th quarter valued at approximately $34,000. Blue Trust Inc. lifted its stake in GMS by 71.3% during the fourth quarter. Blue Trust Inc. now owns 685 shares of the company’s stock worth $62,000 after purchasing an additional 285 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in GMS by 246.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 991 shares of the company’s stock worth $84,000 after purchasing an additional 705 shares during the period. Finally, KBC Group NV boosted its holdings in GMS by 31.9% in the third quarter. KBC Group NV now owns 1,162 shares of the company’s stock worth $105,000 after purchasing an additional 281 shares during the period. Institutional investors and hedge funds own 95.28% of the company’s stock.

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.