GMS (NYSE:GMS) Price Target Raised to $93.00 at Barclays

GMS (NYSE:GMS) had its target price increased by Barclays from $80.00 to $93.00 in a research note published on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other research firms have also issued reports on GMS. Loop Capital upped their target price on shares of GMS from $85.00 to $93.00 and gave the company a “hold” rating in a report on Monday, November 25th. Royal Bank of Canada restated a “sector perform” rating and issued a $86.00 target price (up from $78.00) on shares of GMS in a report on Friday. Robert W. Baird reduced their target price on shares of GMS from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday. StockNews.com lowered shares of GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Finally, Truist Financial reduced their target price on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, August 30th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, GMS has an average rating of “Hold” and an average price target of $93.25.

GMS Price Performance

Shares of NYSE GMS opened at $97.05 on Friday. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 17.84 and a beta of 1.68. GMS has a 52 week low of $68.13 and a 52 week high of $105.54. The company’s 50-day moving average price is $95.68 and its 200 day moving average price is $90.98. The company has a current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90.

GMS (NYSE:GMS) last issued its quarterly earnings data on Thursday, December 5th. The company reported $2.02 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.24). The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. GMS had a net margin of 4.45% and a return on equity of 22.02%. GMS’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.30 earnings per share. As a group, research analysts forecast that GMS will post 7.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other GMS news, COO George T. Hendren sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $102.13, for a total value of $510,650.00. Following the completion of the sale, the chief operating officer now owns 23,772 shares of the company’s stock, valued at $2,427,834.36. This trade represents a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of GMS

Large investors have recently bought and sold shares of the company. Blue Trust Inc. grew its position in shares of GMS by 86.4% during the second quarter. Blue Trust Inc. now owns 369 shares of the company’s stock worth $30,000 after buying an additional 171 shares in the last quarter. Quarry LP grew its position in shares of GMS by 37.1% during the second quarter. Quarry LP now owns 403 shares of the company’s stock worth $32,000 after buying an additional 109 shares in the last quarter. GAMMA Investing LLC grew its position in shares of GMS by 138.8% during the third quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock worth $56,000 after buying an additional 361 shares in the last quarter. KBC Group NV grew its position in shares of GMS by 31.9% during the third quarter. KBC Group NV now owns 1,162 shares of the company’s stock worth $105,000 after buying an additional 281 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in GMS during the second quarter worth $121,000. Institutional investors and hedge funds 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.