GMS (NYSE:GMS) Price Target Raised to $105.00 at Truist Financial

GMS (NYSE:GMS) had its price target raised by Truist Financial from $80.00 to $105.00 in a research report released on Friday,Benzinga reports. They currently have a hold rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. DA Davidson lowered their price target on GMS from $94.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Raymond James Financial upped their price target on GMS from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday. Stephens upped their price target on GMS from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday. Royal Bank Of Canada upped their price target on GMS from $65.00 to $95.20 and gave the stock a “sector perform” rating in a report on Tuesday. Finally, Loop Capital lowered their price target on GMS from $93.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, March 10th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, GMS presently has an average rating of “Hold” and an average target price of $90.36.

GMS Price Performance

Shares of GMS opened at $100.62 on Friday. GMS has a twelve month low of $65.77 and a twelve month high of $105.54. The stock’s 50 day moving average is $75.45 and its two-hundred day moving average is $79.17. The firm has a market capitalization of $3.86 billion, a PE ratio of 34.82 and a beta of 1.62. The company has a current ratio of 1.91, a quick ratio of 1.38 and a debt-to-equity ratio of 0.85.

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

Insider Activity at GMS

In related news, Director Theron I. Gilliam sold 12,474 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total value of $916,340.04. Following the sale, the director now owns 31,507 shares of the company’s stock, valued at approximately $2,314,504.22. This represents a 28.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John C. Turner, Jr. bought 3,650 shares of GMS stock in a transaction that occurred on Monday, April 7th. The stock was bought at an average cost of $70.00 per share, for a total transaction 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 position. The disclosure for this purchase can be found here. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GMS

A number of institutional investors and hedge funds have recently bought and sold shares of GMS. AlphaQuest LLC lifted its stake in GMS by 1,710.5% in the 4th quarter. AlphaQuest LLC now owns 344 shares of the company’s stock valued at $29,000 after buying an additional 325 shares in the last quarter. Eukles Asset Management acquired a new stake in shares of GMS during the first quarter worth $33,000. Canada Pension Plan Investment Board acquired a new stake in shares of GMS during the fourth quarter worth $34,000. Brooklyn Investment Group acquired a new stake in shares of GMS during the first quarter worth $47,000. Finally, Versant Capital Management Inc boosted its holdings in shares of GMS by 170.5% during the first quarter. Versant Capital Management Inc now owns 706 shares of the company’s stock worth $52,000 after purchasing an additional 445 shares during the last quarter. Hedge funds and other institutional investors own 95.28% of the company’s stock.

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.