GMS Inc. (GMS) Raised 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 report released on Monday. The brokerage presently has a $24.00 target price on the stock. Zacks Investment Research’s price target indicates a potential upside of 12.25% from the company’s current price.
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. “
A number of other research firms have also recently issued reports on GMS. Royal Bank Of Canada lifted their target price on GMS from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, July 13th. Robert W. Baird reiterated a “neutral” rating and issued a $25.00 target price on shares of GMS in a research report on Thursday, September 1st. RBC Capital Markets reiterated an “outperform” rating and issued a $26.00 target price (down previously from $28.00) on shares of GMS in a research report on Wednesday, September 14th. Credit Suisse Group AG restated a “buy” rating on shares of GMS in a report on Tuesday, June 28th. Finally, SunTrust Banks Inc. initiated coverage on GMS in a report on Monday, June 20th. They set a “buy” rating and a $28.00 price target on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $25.86.
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Shares of GMS (NYSE:GMS) traded up 0.61% during mid-day trading on Monday, hitting $21.38. 121,138 shares of the company were exchanged. The company has a market capitalization of $875.34 million and a price-to-earnings ratio of 39.09. The firm has a 50 day moving average of $22.69 and a 200 day moving average of $23.08. GMS has a 12-month low of $19.28 and a 12-month high of $26.42.
GMS (NYSE:GMS) last released its earnings results on Tuesday, September 13th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.46. The business earned $549.80 million during the quarter. The company’s revenue was up 21.5% on a year-over-year basis. Equities research analysts forecast that GMS will post $1.76 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA bought a new stake in shares of GMS during the second quarter valued at approximately $16,736,000. American Century Companies Inc. bought a new stake in shares of GMS during the second quarter valued at approximately $13,442,000. Citadel Advisors LLC bought a new stake in shares of GMS during the second quarter valued at approximately $11,090,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of GMS during the second quarter valued at approximately $10,583,000. Finally, Lord Abbett & CO. LLC bought a new stake in shares of GMS during the second quarter valued at approximately $10,404,000. Institutional investors and hedge funds 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.
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