GMS (NYSE:GMS) Upgraded at StockNews.com

StockNews.com upgraded shares of GMS (NYSE:GMS) from a hold rating to a buy rating in a report published on Saturday.

Several other equities research analysts also recently commented on GMS. Royal Bank of Canada dropped their target price on GMS from $92.00 to $85.00 and set a sector perform rating on the stock in a report on Friday, June 21st. DA Davidson dropped their target price on GMS from $105.00 to $97.00 and set a buy rating on the stock in a report on Tuesday, June 25th. Truist Financial dropped their price objective on GMS from $105.00 to $95.00 and set a hold rating on the stock in a report on Friday, June 21st. Robert W. Baird dropped their price objective on GMS from $112.00 to $100.00 and set an outperform rating on the stock in a report on Friday, June 21st. Finally, Loop Capital dropped their price objective on GMS from $100.00 to $85.00 and set a hold rating on the stock in a report on Friday, June 21st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $90.38.

GMS Stock Down 0.3 %

Shares of NYSE:GMS opened at $91.67 on Friday. The stock’s 50-day moving average price is $87.40 and its two-hundred day moving average price is $90.80. The company has a current ratio of 2.17, a quick ratio of 1.40 and a debt-to-equity ratio of 0.84. GMS has a 12-month low of $56.58 and a 12-month high of $101.04. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 13.62 and a beta of 1.62.

GMS (NYSE:GMS) last released its quarterly earnings data on Thursday, June 20th. The company reported $1.93 earnings per share for the quarter, missing the consensus estimate of $2.04 by ($0.11). The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.41 billion. GMS had a net margin of 5.02% and a return on equity of 24.05%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.11 earnings per share. On average, research analysts forecast that GMS will post 8.64 EPS for the current year.

Insiders Place Their Bets

In other GMS news, SVP Craig D. Apolinsky sold 7,900 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $90.32, for a total transaction of $713,528.00. Following the completion of the transaction, the senior vice president now owns 10,671 shares in the company, valued at approximately $963,804.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is currently owned by insiders.

Institutional Trading of GMS

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in shares of GMS by 40.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,069 shares of the company’s stock worth $418,000 after purchasing an additional 1,467 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of GMS during the fourth quarter worth $1,673,000. Mackenzie Financial Corp raised its position in shares of GMS by 7.4% during the fourth quarter. Mackenzie Financial Corp now owns 7,835 shares of the company’s stock worth $646,000 after purchasing an additional 542 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of GMS by 9.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,300 shares of the company’s stock worth $767,000 after purchasing an additional 795 shares during the period. Finally, Jennison Associates LLC raised its position in shares of GMS by 2.4% during the fourth quarter. Jennison Associates LLC now owns 17,215 shares of the company’s stock worth $1,419,000 after purchasing an additional 403 shares during the period. 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.