GMS Inc. (NYSE:GMS) Sees Large Drop in Short Interest

GMS Inc. (NYSE:GMS) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totalling 1,200,000 shares, a decrease of 11.1% from the September 15th total of 1,350,000 shares. Based on an average daily trading volume, of 409,600 shares, the short-interest ratio is currently 2.9 days. Currently, 3.1% of the shares of the stock are sold short.

GMS Trading Down 0.4 %

Shares of GMS stock traded down $0.43 on Thursday, hitting $95.80. The stock had a trading volume of 104,379 shares, compared to its average volume of 384,705. 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 has a twelve month low of $56.58 and a twelve month high of $101.04. The company has a fifty day moving average price of $89.55 and a two-hundred day moving average price of $90.39. The firm has a market cap of $3.80 billion, a P/E ratio of 14.25 and a beta of 1.68.

GMS (NYSE:GMS) last announced its quarterly earnings results on Thursday, August 29th. The company reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.21). GMS had a return on equity of 22.02% and a net margin of 4.45%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the company earned $2.40 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. As a group, analysts forecast that GMS will post 7.95 earnings per share for the current fiscal year.

Institutional Trading of GMS

Several hedge funds and other institutional investors have recently modified their holdings of GMS. Blue Trust Inc. boosted 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 during the period. Quarry LP boosted its position in GMS by 37.1% during the 2nd quarter. Quarry LP now owns 403 shares of the company’s stock worth $32,000 after acquiring an additional 109 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of GMS by 138.8% during the 3rd quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock worth $56,000 after acquiring an additional 361 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of GMS in the first quarter valued at approximately $77,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of GMS in the second quarter valued at approximately $121,000. Institutional investors and hedge funds own 95.28% of the company’s stock.

Analyst Upgrades and Downgrades

GMS has been the topic of several research analyst reports. DA Davidson decreased their price target on shares of GMS from $105.00 to $97.00 and set a “buy” rating on the stock in a research note on Tuesday, June 25th. StockNews.com cut GMS from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Stephens cut their price target on GMS from $112.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, July 1st. Robert W. Baird lifted their price objective on GMS from $96.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Truist Financial cut their target price on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $91.50.

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.