GMS (NYSE:GMS) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of GMS (NYSE:GMS – Get Rating) in a report issued on Thursday. The brokerage set a “strong-buy” rating on the stock.

Other research analysts have also issued reports about the stock. Robert W. Baird raised their target price on shares of GMS from $67.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, January 24th. Stephens raised their target price on shares of GMS from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, December 12th. Loop Capital lowered shares of GMS from a “buy” rating to a “hold” rating and raised their target price for the company from $52.00 to $60.00 in a report on Friday, December 9th. They noted that the move was a valuation call. Barclays raised their target price on shares of GMS from $60.00 to $67.00 and gave the company an “equal weight” rating in a report on Monday, March 6th. Finally, Royal Bank of Canada raised their price target on GMS from $51.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Friday, December 9th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

GMS Trading Down 3.7 %

Shares of GMS opened at $51.90 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.53 and a quick ratio of 1.58. GMS has a 1 year low of $36.10 and a 1 year high of $62.19. The company has a 50 day simple moving average of $57.31 and a two-hundred day simple moving average of $50.58. The firm has a market cap of $2.14 billion, a P/E ratio of 6.69 and a beta of 1.85.

GMS (NYSE:GMS – Get Rating) last announced its quarterly earnings data on Thursday, March 2nd. The company reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.01). GMS had a net margin of 6.28% and a return on equity of 34.16%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the business earned $1.74 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities analysts expect that GMS will post 8.92 earnings per share for the current fiscal year.

Insider Transactions at GMS

In other news, CEO John C. Turner, Jr. sold 1,526 shares of GMS stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $59.50, for a total transaction of $90,797.00. Following the completion of the sale, the chief executive officer now directly owns 63,110 shares in the company, valued at $3,755,045. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO John C. Turner, Jr. sold 876 shares of GMS stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $59.50, for a total value of $52,122.00. Following the completion of the sale, the chief executive officer now directly owns 68,240 shares in the company, valued at $4,060,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John C. Turner, Jr. sold 1,526 shares of GMS stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $59.50, for a total value of $90,797.00. Following the completion of the sale, the chief executive officer now owns 63,110 shares of the company’s stock, valued at $3,755,045. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,468 shares of company stock worth $1,062,921. 1.60% of the stock is currently owned by insiders.

Institutional Trading of GMS

Several institutional investors and hedge funds have recently made changes to their positions in GMS. Belpointe Asset Management LLC bought a new stake in shares of GMS in the fourth quarter valued at about $25,000. Ronald Blue Trust Inc. raised its holdings in shares of GMS by 100.6% in the fourth quarter. Ronald Blue Trust Inc. now owns 1,051 shares of the company’s stock valued at $42,000 after acquiring an additional 527 shares in the last quarter. Point72 Hong Kong Ltd raised its holdings in shares of GMS by 41.1% in the second quarter. Point72 Hong Kong Ltd now owns 958 shares of the company’s stock valued at $43,000 after acquiring an additional 279 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of GMS by 32.5% in the third quarter. Royal Bank of Canada now owns 1,153 shares of the company’s stock valued at $46,000 after acquiring an additional 283 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in GMS by 29.4% in the third quarter. Tower Research Capital LLC TRC now owns 2,505 shares of the company’s stock valued at $100,000 after purchasing an additional 569 shares during the last quarter. 96.34% of the stock is currently owned by institutional investors.

About GMS

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GMS, Inc is a holding company, which engages in the distribution of wallboard and suspended ceilings systems and complementary interior construction products. It operates through the following segments: Geographic Divisions, Other, and Corporate. The firm offers ceiling 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.