Meritage Portfolio Management Has $430,000 Stock Position in GMS Inc. (NYSE:GMS)

Meritage Portfolio Management increased its position in shares of GMS Inc. (NYSE:GMS) by 11.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,747 shares of the company’s stock after acquiring an additional 490 shares during the period. Meritage Portfolio Management’s holdings in GMS were worth $430,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings 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 raised its position in GMS by 37.1% in the second quarter. Quarry LP now owns 403 shares of the company’s stock valued at $32,000 after purchasing an additional 109 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of GMS by 138.8% during the third quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock valued at $56,000 after purchasing an additional 361 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of GMS during the first quarter worth about $77,000. Finally, Canada Pension Plan Investment Board bought a new position in GMS in the 2nd quarter valued at approximately $121,000. 95.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GMS shares. Barclays decreased their price target on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, September 9th. Truist Financial lowered their target price on GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, August 30th. StockNews.com cut GMS from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Finally, 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 note on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $91.50.

GMS Stock Performance

NYSE:GMS opened at $103.21 on Tuesday. The firm has a market capitalization of $4.05 billion, a P/E ratio of 17.03 and a beta of 1.68. GMS Inc. has a twelve month low of $62.58 and a twelve month high of $103.43. The company has a fifty day moving average of $90.64 and a 200-day moving average of $90.18. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90.

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

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.