Truist Financial Raises GMS (NYSE:GMS) Price Target to $97.00

GMS (NYSE:GMS) had its price objective upped by equities research analysts at Truist Financial from $90.00 to $97.00 in a report issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price would suggest a potential downside of 0.54% from the stock’s previous close.

GMS has been the topic of several other research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $86.00 target price (up previously from $78.00) on shares of GMS 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. Barclays upped their target price on shares of GMS from $80.00 to $93.00 and gave the company an “equal weight” rating in a research report on Friday. DA Davidson dropped their price objective on GMS from $97.00 to $94.00 and set a “neutral” rating for the company in a report on Friday. Finally, Loop Capital upped their price target on GMS from $85.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $94.13.

GMS Stock Up 0.5 %

Shares of GMS stock traded up $0.48 during trading on Monday, hitting $97.53. 63,007 shares of the company were exchanged, compared to its average volume of 381,620. The business’s 50-day simple moving average is $95.68 and its 200 day simple moving average is $90.98. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.23. GMS has a twelve month low of $71.33 and a twelve month high of $105.54. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 17.93 and a beta of 1.68.

GMS (NYSE:GMS) last issued its quarterly earnings data on Thursday, December 5th. The company reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.24). The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. GMS had a net margin of 3.92% and a return on equity of 20.67%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.30 earnings per share. As a group, analysts forecast that GMS will post 7.83 EPS for the current fiscal year.

Insider Activity

In other news, COO George T. Hendren sold 5,000 shares of GMS stock in a transaction on Monday, November 11th. The stock was sold at an average price of $102.13, for a total value of $510,650.00. Following the transaction, the chief operating officer now owns 23,772 shares in the company, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of GMS

Several large investors have recently bought and sold shares of the business. Vestcor Inc raised its stake in GMS by 71.5% during the third quarter. Vestcor Inc now owns 14,330 shares of the company’s stock worth $1,298,000 after acquiring an additional 5,972 shares in the last quarter. Barclays PLC increased its stake in GMS by 374.0% in the third quarter. Barclays PLC now owns 70,580 shares of the company’s stock valued at $6,392,000 after purchasing an additional 55,690 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in GMS by 16.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 42,901 shares of the company’s stock valued at $3,886,000 after buying an additional 5,936 shares in the last quarter. XTX Topco Ltd bought a new position in GMS in the 3rd quarter valued at about $1,437,000. Finally, Weiss Asset Management LP bought a new position in GMS during the third quarter valued at about $12,490,000. 95.28% of the stock is owned by institutional investors and hedge funds.

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.