GMS (NYSE:GMS) Downgraded by StockNews.com to “Buy”

StockNews.com downgraded shares of GMS (NYSE:GMS) from a strong-buy rating to a buy rating in a report issued on Thursday morning.

Other equities analysts have also issued research reports about the stock. Barclays lifted their target price on shares of GMS from $75.00 to $93.00 and gave the company an equal weight rating in a report on Tuesday, March 5th. Robert W. Baird boosted their price objective on shares of GMS from $92.00 to $105.00 and gave the stock an outperform rating in a report on Friday, March 1st. Stephens boosted their price objective on shares of GMS from $87.00 to $98.00 and gave the stock an overweight rating in a report on Friday, January 26th. Truist Financial boosted their price objective on shares of GMS from $72.00 to $88.00 and gave the stock a hold rating in a report on Friday, March 1st. Finally, Royal Bank of Canada boosted their price objective on shares of GMS from $84.00 to $92.00 and gave the stock a sector perform rating in a report on Friday, March 1st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $89.63.

GMS Price Performance

Shares of NYSE:GMS opened at $95.32 on Thursday. The company has a 50-day moving average price of $93.86 and a 200 day moving average price of $81.85. GMS has a 52 week low of $55.88 and a 52 week high of $101.04. The company has a quick ratio of 1.47, a current ratio of 2.40 and a debt-to-equity ratio of 0.69. The company has a market cap of $3.79 billion, a P/E ratio of 13.35 and a beta of 1.71.

GMS (NYSE:GMS) last issued its quarterly earnings data on Thursday, February 29th. The company reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.01). The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.27 billion. GMS had a return on equity of 25.65% and a net margin of 5.48%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the business earned $1.85 earnings per share. Research analysts predict that GMS will post 8.36 earnings per share for the current year.

Insiders Place Their Bets

In other GMS news, CEO John C. Turner, Jr. sold 6,266 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $97.58, for a total value of $611,436.28. Following the completion of the transaction, the chief executive officer now owns 48,074 shares in the company, valued at approximately $4,691,060.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO John C. Turner, Jr. sold 6,266 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $97.58, for a total transaction of $611,436.28. Following the completion of the sale, the chief executive officer now directly owns 48,074 shares of the company’s stock, valued at $4,691,060.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO George T. Hendren sold 10,554 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $96.49, for a total transaction of $1,018,355.46. Following the sale, the chief operating officer now directly owns 23,261 shares of the company’s stock, valued at $2,244,453.89. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,820 shares of company stock worth $3,561,192. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On GMS

Several hedge funds have recently made changes to their positions in the company. Blue Trust Inc. increased its stake in GMS by 131.1% in the 4th quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $31,000 after buying an additional 211 shares during the period. GAMMA Investing LLC acquired a new position in GMS in the 4th quarter valued at approximately $32,000. Hexagon Capital Partners LLC increased its stake in GMS by 233.3% in the 4th quarter. Hexagon Capital Partners LLC now owns 430 shares of the company’s stock valued at $35,000 after buying an additional 301 shares during the period. TFO Wealth Partners LLC increased its stake in GMS by 174,000.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,741 shares of the company’s stock valued at $144,000 after buying an additional 1,740 shares during the period. Finally, CI Investments Inc. acquired a new position in GMS in the 3rd quarter valued at approximately $155,000. Hedge funds and other 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.