GMS (NYSE:GMS) Price Target Raised to $95.00 at Barclays

GMS (NYSE:GMS) had its target price increased by Barclays from $71.00 to $95.00 in a report published on Friday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

GMS has been the topic of a number of other research reports. DA Davidson dropped their price target on GMS from $94.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Royal Bank Of Canada increased their price target on shares of GMS from $65.00 to $95.20 and gave the stock a “sector perform” rating in a research report on Tuesday. UBS Group set a $80.00 price objective on shares of GMS in a research report on Friday, March 7th. Stephens upped their price objective on shares of GMS from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Truist Financial set a $80.00 target price on shares of GMS in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $90.36.

GMS Trading Up 24.2%

Shares of GMS opened at $100.62 on Friday. The business’s 50-day moving average price is $75.45 and its 200 day moving average price is $79.17. The stock has a market capitalization of $3.86 billion, a P/E ratio of 34.82 and a beta of 1.62. GMS has a 1-year low of $65.77 and a 1-year high of $105.54. 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 issued 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 firm 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%. GMS’s revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the business posted $1.93 EPS. Analysts expect that GMS will post 7.26 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO John C. Turner, Jr. acquired 3,650 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was acquired at an average cost of $70.00 per share, for a total transaction of $255,500.00. Following the completion of the acquisition, the chief executive officer now owns 66,928 shares in the company, valued at approximately $4,684,960. The trade was a 5.77% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Theron I. Gilliam sold 12,474 shares of the stock in a transaction 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 ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of GMS

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its holdings in GMS by 38.7% during the fourth quarter. FMR LLC now owns 5,868,782 shares of the company’s stock valued at $497,849,000 after buying an additional 1,636,612 shares in the last quarter. Coliseum Capital Management LLC lifted its position in shares of GMS by 81.9% in the first quarter. Coliseum Capital Management LLC now owns 3,437,488 shares of the company’s stock worth $251,521,000 after buying an additional 1,547,999 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in shares of GMS by 29.4% in the first quarter. Westwood Holdings Group Inc. now owns 933,262 shares of the company’s stock worth $68,287,000 after buying an additional 212,128 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of GMS by 105.3% in the first quarter. Goldman Sachs Group Inc. now owns 373,738 shares of the company’s stock worth $27,346,000 after buying an additional 191,737 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of GMS by 12.9% in the first quarter. American Century Companies Inc. now owns 1,660,194 shares of the company’s stock worth $121,476,000 after buying an additional 189,760 shares during the last quarter. 95.28% 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.