GMS (NYSE:GMS) Sets New 1-Year High on Analyst Upgrade

Shares of GMS Inc. (NYSE:GMS) hit a new 52-week high on Monday after Loop Capital raised their price target on the stock from $85.00 to $93.00. Loop Capital currently has a hold rating on the stock. GMS traded as high as $103.97 and last traded at $103.97, with a volume of 6843 shares changing hands. The stock had previously closed at $101.70.

Several other research analysts have also recently weighed in on the stock. Robert W. Baird boosted their price target on shares of GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com cut shares of GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Barclays decreased their target price on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, September 9th. Finally, Truist Financial decreased their target price on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, GMS presently has a consensus rating of “Hold” and an average price target of $92.50.

Insider Buying and Selling

In other GMS news, COO George T. Hendren sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $102.13, for a total value of $510,650.00. Following the transaction, the chief operating officer now directly owns 23,772 shares in the company, valued at $2,427,834.36. This represents a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On GMS

Several large investors have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co lifted its holdings in shares of GMS by 56.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 51,981 shares of the company’s stock worth $5,060,000 after purchasing an additional 18,799 shares during the period. Quadrature Capital Ltd lifted its holdings in shares of GMS by 40.5% during the first quarter. Quadrature Capital Ltd now owns 10,593 shares of the company’s stock worth $1,031,000 after purchasing an additional 3,054 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of GMS by 630.8% during the first quarter. Public Employees Retirement System of Ohio now owns 43,846 shares of the company’s stock worth $4,268,000 after purchasing an additional 37,846 shares during the period. Interval Partners LP acquired a new stake in shares of GMS during the first quarter worth $8,761,000. Finally, Comerica Bank lifted its holdings in shares of GMS by 157.0% during the first quarter. Comerica Bank now owns 48,284 shares of the company’s stock worth $4,700,000 after purchasing an additional 29,495 shares during the period. 95.28% of the stock is owned by institutional investors and hedge funds.

GMS Trading Up 2.2 %

The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. The company has a fifty day moving average of $93.61 and a two-hundred day moving average of $90.57. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 16.95 and a beta of 1.68.

GMS (NYSE:GMS) last released its earnings results on Thursday, August 29th. The company reported $1.93 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.48 billion. During the same period last year, the business posted $2.40 EPS. GMS’s revenue was up 2.8% compared to the same quarter last year. On average, research analysts expect that GMS Inc. will post 7.95 EPS for the current year.

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.