GMS Inc. (GMS) Lifted to Buy at Zacks Investment Research
GMS Inc. (NYSE:GMS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $25.00 target price on the stock. Zacks Investment Research’s price target would indicate a potential upside of 13.33% from the company’s previous close.
According to Zacks, “GMS Inc. is a distributor of wallboard and suspended ceilings systems. The company’s product consists of wallboard, suspended ceilings systems or ceilings and complementary interior construction products in commercial and residential buildings. GMS Inc. is based in Tucker, United States. “
GMS has been the subject of several other reports. Raymond James Financial Inc. began coverage on shares of GMS in a research report on Monday, June 20th. They issued an “outperform” rating and a $26.00 price objective for the company. Robert W. Baird reissued a “neutral” rating and issued a $25.00 price objective on shares of GMS in a research report on Thursday, September 1st. Credit Suisse Group AG reissued a “buy” rating on shares of GMS in a research report on Tuesday, June 28th. RBC Capital Markets reissued an “outperform” rating and issued a $26.00 price objective (down from $28.00) on shares of GMS in a research report on Wednesday, September 14th. Finally, Stephens assumed coverage on shares of GMS in a research report on Monday, June 20th. They issued an “overweight” rating for the company. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $26.00.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/08/gms-inc-gms-lifted-to-buy-at-zacks-investment-research.html
Shares of GMS (NYSE:GMS) traded down 2.30% during midday trading on Wednesday, reaching $22.06. 110,722 shares of the company traded hands. The company has a 50 day moving average price of $23.10 and a 200 day moving average price of $23.18. The company has a market capitalization of $903.18 million and a PE ratio of 40.33. GMS has a 1-year low of $19.28 and a 1-year high of $26.42.
GMS (NYSE:GMS) last released its quarterly earnings data on Tuesday, September 13th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. The company earned $549.80 million during the quarter. GMS’s revenue was up 21.5% compared to the same quarter last year. On average, analysts expect that GMS will post $1.76 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of GMS. Nomura Holdings Inc. purchased a new position in GMS during the second quarter valued at approximately $249,000. Schwab Charles Investment Management Inc. purchased a new position in GMS during the second quarter valued at approximately $256,000. Point72 Asset Management L.P. purchased a new position in GMS during the second quarter valued at approximately $838,000. Castle Ridge Investment Management LP purchased a new position in GMS during the second quarter valued at approximately $4,007,000. Finally, Barclays PLC purchased a new position in GMS during the second quarter valued at approximately $340,000. Hedge funds and other institutional investors own 19.72% of the company’s stock.
GMS Inc is a distributor of wallboard and suspended ceilings systems. The Company’s seven segments include Central, Northeast, Southern, Southeast, Southwest and Western, Tool Source Warehouse, Inc and other. It offers wallboard, which is used in building products for interior and exterior walls, and ceilings in residential and commercial structures.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for GMS Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GMS Inc. and related companies with MarketBeat.com's FREE daily email newsletter.