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 report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential downside of 3.48% from the stock’s current price.

Several other analysts also recently weighed in on GMS. Truist Financial cut their price target on GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Loop Capital raised their target price on shares of GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, November 25th. StockNews.com cut GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Robert W. Baird cut their price target on GMS from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $86.00 target price (up from $78.00) on shares of GMS in a report on Friday. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $93.25.

GMS Stock Performance

Shares of NYSE:GMS traded down $1.41 during mid-day trading on Friday, reaching $96.35. The company had a trading volume of 203,833 shares, compared to its average volume of 382,100. The company’s 50-day moving average price is $95.56 and its 200-day moving average price is $91.00. GMS has a one year low of $68.13 and a one year high of $105.54. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 15.90 and a beta of 1.68. 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 posted its quarterly earnings results on Thursday, December 5th. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.24). GMS had a net margin of 4.45% and a return on equity of 22.02%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the firm earned $2.30 EPS. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, equities research analysts anticipate that GMS will post 7.95 EPS for the current fiscal year.

Insider Activity at GMS

In related 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 transaction, the chief operating officer now directly owns 23,772 shares of the company’s stock, valued at $2,427,834.36. This trade represents a 17.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GMS. Blue Trust Inc. raised its stake in GMS by 86.4% in the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company’s stock worth $30,000 after acquiring an additional 171 shares during the last quarter. Quarry LP lifted its holdings in GMS by 37.1% in the 2nd quarter. Quarry LP now owns 403 shares of the company’s stock valued at $32,000 after purchasing an additional 109 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of GMS by 138.8% during the 3rd quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock valued at $56,000 after acquiring an additional 361 shares during the last quarter. KBC Group NV increased its holdings in shares of GMS by 31.9% during the 3rd quarter. KBC Group NV now owns 1,162 shares of the company’s stock worth $105,000 after buying an additional 281 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in GMS during the second quarter worth $121,000. Hedge funds and other institutional investors 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.