CacheTech Inc. Has $2.72 Million Holdings in GMS Inc. (NYSE:GMS)

CacheTech Inc. raised its stake in shares of GMS Inc. (NYSE:GMS) by 8.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 30,009 shares of the company’s stock after purchasing an additional 2,229 shares during the quarter. CacheTech Inc. owned 0.08% of GMS worth $2,718,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Quarry LP lifted its position in shares of GMS by 37.1% in the 2nd quarter. Quarry LP now owns 403 shares of the company’s stock worth $32,000 after acquiring an additional 109 shares during the period. QRG Capital Management Inc. lifted its position in GMS by 2.0% in the first quarter. QRG Capital Management Inc. now owns 8,070 shares of the company’s stock worth $786,000 after purchasing an additional 160 shares during the period. Pitcairn Co. boosted its stake in GMS by 2.5% during the first quarter. Pitcairn Co. now owns 6,614 shares of the company’s stock worth $644,000 after buying an additional 160 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in GMS by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 10,509 shares of the company’s stock valued at $847,000 after buying an additional 162 shares during the period. Finally, Blue Trust Inc. increased its holdings in GMS by 86.4% in the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company’s stock valued at $30,000 after buying an additional 171 shares during the period. Institutional investors and hedge funds own 95.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GMS shares. Truist Financial reduced their price objective on shares of GMS from $95.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 30th. StockNews.com downgraded GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Barclays dropped their target price on GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, September 9th. Finally, Robert W. Baird raised their target price on GMS from $96.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $91.50.

GMS Stock Up 1.2 %

Shares of GMS opened at $90.96 on Friday. The company has a market capitalization of $3.57 billion, a P/E ratio of 15.01 and a beta of 1.68. GMS Inc. has a one year low of $59.86 and a one year high of $101.04. The business’s 50 day simple moving average is $89.75 and its 200-day simple moving average is $89.96. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.31 and a quick ratio of 1.45.

GMS (NYSE:GMS) last posted its quarterly earnings data 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 return on equity of 22.02% and a net margin of 4.45%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the firm posted $2.40 EPS. GMS’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, sell-side analysts predict that GMS Inc. will post 7.95 EPS for the current fiscal 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.