GMS (NYSE:GMS) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of GMS (NYSE:GMSGet Rating) from a hold rating to a buy rating in a report released on Tuesday, Zacks.com reports. The firm currently has $54.00 price target on the stock.

According to Zacks, “GMS Inc. is a distributor of wallboard and suspended ceilings systems. The company’s product consists of wallboard, suspended ceilings systems or ceilings and complementary interior construction products in commercial and residential buildings. GMS Inc. is based in Tucker, United States. “

Other research analysts have also recently issued reports about the stock. StockNews.com initiated coverage on shares of GMS in a research report on Thursday, March 31st. They set a buy rating on the stock. Loop Capital assumed coverage on shares of GMS in a report on Thursday, March 17th. They issued a buy rating and a $62.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $62.88.

GMS stock opened at $50.35 on Tuesday. The company has a current ratio of 2.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.28. The company’s 50 day moving average is $51.34 and its 200 day moving average is $53.08. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 9.59 and a beta of 1.98. GMS has a 1-year low of $40.03 and a 1-year high of $61.79.

GMS (NYSE:GMSGet Rating) last issued its quarterly earnings results on Thursday, March 3rd. The company reported $1.74 EPS for the quarter, meeting analysts’ consensus estimates of $1.74. GMS had a net margin of 5.39% and a return on equity of 31.14%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the business earned $0.60 earnings per share. The business’s quarterly revenue was up 53.5% on a year-over-year basis. As a group, sell-side analysts forecast that GMS will post 7.27 EPS for the current fiscal year.

In other news, major shareholder Coliseum Capital Management, L bought 105,000 shares of the business’s stock in a transaction dated Thursday, April 7th. The shares were purchased at an average price of $46.09 per share, for a total transaction of $4,839,450.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought 217,049 shares of company stock worth $10,608,665 in the last 90 days. Company insiders own 1.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in GMS. BlackRock Inc. lifted its position in GMS by 0.7% during the fourth quarter. BlackRock Inc. now owns 7,015,817 shares of the company’s stock valued at $421,720,000 after buying an additional 49,049 shares during the period. Coliseum Capital Management LLC lifted its position in GMS by 6.6% during the third quarter. Coliseum Capital Management LLC now owns 5,292,003 shares of the company’s stock valued at $231,790,000 after buying an additional 328,060 shares during the period. Dimensional Fund Advisors LP lifted its position in GMS by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 2,316,798 shares of the company’s stock valued at $101,481,000 after buying an additional 10,276 shares during the period. FMR LLC lifted its position in GMS by 27.6% during the first quarter. FMR LLC now owns 1,568,460 shares of the company’s stock valued at $23,715,000 after buying an additional 338,959 shares during the period. Finally, Geode Capital Management LLC lifted its position in GMS by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 812,541 shares of the company’s stock valued at $48,841,000 after buying an additional 8,548 shares during the period. 97.31% of the stock is owned by institutional investors.

GMS Company Profile (Get Rating)

GMS Inc distributes wallboards, suspended ceilings systems, and complementary building 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.

Further Reading

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