GMS (NYSE:GMS) Given New $90.00 Price Target at Raymond James Financial

GMS (NYSE:GMS) had its price target lifted by Raymond James Financial from $80.00 to $90.00 in a research note released on Friday, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

GMS has been the subject of a number of other research reports. Royal Bank Of Canada lifted their price target on GMS from $65.00 to $95.20 and gave the stock a “sector perform” rating in a research report on Tuesday. Stephens boosted their price objective on GMS from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Friday. UBS Group set a $80.00 price objective on GMS in a report on Friday, March 7th. Truist Financial set a $80.00 price objective on GMS in a report on Tuesday. Finally, Loop Capital decreased their price objective on GMS from $93.00 to $80.00 and set a “hold” rating for the company in a report on Monday, March 10th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $90.36.

GMS Stock Performance

Shares of GMS opened at $100.62 on Friday. The stock has a 50-day moving average of $75.45 and a two-hundred day moving average of $79.17. GMS has a one year low of $65.77 and a one year high of $105.54. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.38 and a current ratio of 1.91. The stock has a market cap of $3.86 billion, a P/E ratio of 34.82 and a beta of 1.62.

GMS (NYSE:GMS) last issued its quarterly earnings results on Wednesday, June 18th. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.18. GMS had a return on equity of 15.29% and a net margin of 2.09%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the firm posted $1.93 EPS. The firm’s revenue was down 5.6% compared to the same quarter last year. As a group, research analysts predict that GMS will post 7.26 EPS for the current year.

Insider Activity at GMS

In related news, Director Theron I. Gilliam sold 12,474 shares of GMS stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total value of $916,340.04. Following the completion of the transaction, the director now owns 31,507 shares in the company, valued at $2,314,504.22. The trade was a 28.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John C. Turner, Jr. purchased 3,650 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was acquired at an average price of $70.00 per share, with a total value of $255,500.00. Following the purchase, the chief executive officer now owns 66,928 shares in the company, valued at $4,684,960. This represents a 5.77% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On GMS

Large investors have recently bought and sold shares of the company. AlphaQuest LLC increased its stake in GMS by 1,710.5% during the 4th quarter. AlphaQuest LLC now owns 344 shares of the company’s stock worth $29,000 after buying an additional 325 shares in the last quarter. Eukles Asset Management purchased a new stake in GMS during the 1st quarter worth approximately $33,000. Canada Pension Plan Investment Board purchased a new stake in GMS during the 4th quarter worth approximately $34,000. Brooklyn Investment Group purchased a new stake in GMS during the 1st quarter worth approximately $47,000. Finally, Versant Capital Management Inc increased its stake in GMS by 170.5% during the 1st quarter. Versant Capital Management Inc now owns 706 shares of the company’s stock worth $52,000 after buying an additional 445 shares in the last quarter. 95.28% of the stock is currently owned by hedge funds and other institutional investors.

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.