GMS (NYSE:GMS) Price Target Raised to $83.00 at Robert W. Baird

GMS (NYSE:GMS) had its price target upped by Robert W. Baird from $76.00 to $83.00 in a research report report published on Friday, FlyOnTheWall reports.

Several other research firms have also recently issued reports on GMS. VNET Group reissued a maintains rating on shares of GMS in a research note on Tuesday, June 27th. Raymond James raised their price objective on shares of GMS from $70.00 to $82.00 in a report on Friday, June 23rd. Truist Financial raised their price objective on shares of GMS from $60.00 to $72.00 in a report on Tuesday, June 27th. Royal Bank of Canada raised their price objective on shares of GMS from $55.00 to $68.00 in a report on Friday, June 23rd. Finally, StockNews.com initiated coverage on shares of GMS in a report on Thursday, August 17th. They issued a strong-buy rating for the company. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $77.88.

GMS Stock Up 1.6 %

NYSE GMS opened at $70.48 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.19 and a quick ratio of 1.38. The stock has a market capitalization of $2.86 billion, a PE ratio of 9.02 and a beta of 1.85. GMS has a 1 year low of $38.31 and a 1 year high of $76.14. The business’s 50-day moving average is $71.34 and its 200 day moving average is $63.85.

GMS (NYSE:GMS) last posted its earnings results on Thursday, August 31st. The company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.01. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.38 billion. GMS had a return on equity of 32.45% and a net margin of 6.25%. GMS’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $2.43 earnings per share. Sell-side analysts forecast that GMS will post 8.11 earnings per share for the current year.

Insider Activity

In other news, SVP Craig D. Apolinsky sold 16,950 shares of GMS stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $71.48, for a total transaction of $1,211,586.00. Following the completion of the transaction, the senior vice president now directly owns 9,870 shares in the company, valued at $705,507.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Coliseum Capital Management, L sold 80,071 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $66.89, for a total value of $5,355,949.19. Following the completion of the transaction, the insider now directly owns 5,911,892 shares in the company, valued at approximately $395,446,455.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Craig D. Apolinsky sold 16,950 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $71.48, for a total transaction of $1,211,586.00. Following the completion of the transaction, the senior vice president now owns 9,870 shares of the company’s stock, valued at $705,507.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,717,270 shares of company stock worth $115,788,574. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On GMS

Hedge funds have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC purchased a new position in GMS in the 4th quarter worth approximately $25,000. Huntington National Bank purchased a new position in GMS in the 2nd quarter worth approximately $27,000. Quarry LP purchased a new position in GMS in the 2nd quarter worth approximately $29,000. Financial Management Professionals Inc. bought a new stake in GMS in the 2nd quarter worth approximately $30,000. Finally, Ellevest Inc. grew its position in GMS by 40.5% in the 1st quarter. Ellevest Inc. now owns 631 shares of the company’s stock worth $37,000 after purchasing an additional 182 shares during the period. 97.88% of the stock is currently owned by hedge funds and other institutional investors.

GMS Company Profile

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.