GMS (NYSE:GMS) Price Target Raised to $110.00

by · The Cerbat Gem

GMS (NYSE:GMS – Free Report) had its price target upped by Barclays from $95.00 to $110.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other brokerages have also recently weighed in on GMS. Truist Financial upped their price objective on shares of GMS from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Tuesday. Royal Bank Of Canada upped their price objective on shares of GMS from $95.20 to $110.00 and gave the stock a “sector perform” rating in a report on Tuesday. Loop Capital upped their price objective on shares of GMS from $95.00 to $110.00 and gave the stock a “hold” rating in a report on Tuesday. UBS Group set a $80.00 price objective on shares of GMS in a report on Friday, March 7th. Finally, DA Davidson upped their price objective on shares of GMS from $95.20 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday. Ten analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $101.11.

View Our Latest Stock Report on GMS

GMS Price Performance

GMS stock opened at $109.70 on Tuesday. The company has a market cap of $4.18 billion, a P/E ratio of 37.96 and a beta of 1.71. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.91 and a quick ratio of 1.17. GMS has a 1 year low of $65.77 and a 1 year high of $109.70. The firm has a 50-day moving average of $81.23 and a 200 day moving average of $79.68.

GMS (NYSE:GMS – Get Free Report) last announced its quarterly earnings data 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 net margin of 2.09% and a return on equity of 16.97%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.93 earnings per share. On average, sell-side analysts forecast that GMS will post 7.26 EPS for the current year.

Insider Buying and Selling

In other news, CEO John C. Turner, Jr. purchased 3,650 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were purchased at an average price of $70.00 per share, for a total transaction of $255,500.00. Following the completion of the acquisition, the chief executive officer directly owned 66,928 shares in the company, valued at $4,684,960. This represents a 5.77% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO George T. Hendren sold 5,000 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $108.23, for a total transaction of $541,150.00. Following the sale, the chief operating officer owned 23,950 shares in the company, valued at approximately $2,592,108.50. The trade was a 17.27% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On GMS

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in GMS by 38.7% in the fourth quarter. FMR LLC now owns 5,868,782 shares of the company’s stock worth $497,849,000 after purchasing an additional 1,636,612 shares during the last quarter. Coliseum Capital Management LLC boosted its holdings in 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 purchasing an additional 1,547,999 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in GMS by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,154,021 shares of the company’s stock worth $157,609,000 after purchasing an additional 31,230 shares during the last quarter. American Century Companies Inc. boosted its holdings in 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 purchasing an additional 189,760 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its holdings in 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 purchasing an additional 212,128 shares during the last quarter. Hedge funds and other institutional investors own 95.28% of the company’s stock.

GMS Company Profile

(Get Free Report)

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.

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