Barclays Has Lowered Expectations for GMS (NYSE:GMS) Stock Price

GMS (NYSE:GMS) had its price target decreased by analysts at Barclays from $80.00 to $71.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential downside of 3.68% from the company’s previous close.

Several other research firms have also commented on GMS. 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 report on Friday. Royal Bank of Canada dropped their target price on shares of GMS from $82.00 to $65.00 and set a “sector perform” rating on the stock in a report on Friday. Truist Financial lowered their price objective on GMS from $97.00 to $80.00 and set a “hold” rating for the company in a research note on Friday. DA Davidson reduced their price target on shares of GMS from $94.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Loop Capital lifted their price target on shares of GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, November 25th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $82.43.

GMS Price Performance

GMS stock opened at $73.71 on Monday. GMS has a 12 month low of $65.88 and a 12 month high of $105.54. The business’s 50 day simple moving average is $82.32 and its 200 day simple moving average is $88.85. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 13.49 and a beta of 1.73. 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 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 company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.29 billion. Sell-side analysts forecast that GMS will post 7.26 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vise Technologies Inc. raised its holdings in shares of GMS by 2.3% in the fourth quarter. Vise Technologies Inc. now owns 7,090 shares of the company’s stock worth $601,000 after buying an additional 162 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of GMS by 24.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,380 shares of the company’s stock valued at $8,006,000 after purchasing an additional 18,598 shares in the last quarter. Voloridge Investment Management LLC bought a new position in shares of GMS in the 4th quarter worth $2,643,000. Sherbrooke Park Advisers LLC boosted its holdings in shares of GMS by 4.0% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 5,536 shares of the company’s stock valued at $470,000 after buying an additional 211 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in GMS by 42.5% in the fourth quarter. ProShare Advisors LLC now owns 11,894 shares of the company’s stock worth $1,009,000 after purchasing an additional 3,550 shares during the last quarter. Institutional investors 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.