Zacks Investment Research Upgrades GMS Inc. (GMS) to Buy
GMS Inc. (NYSE:GMS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm currently has a $24.00 target price on the stock. Zacks Investment Research’s price objective points to a potential upside of 12.25% 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. “
A number of other analysts have also recently commented on GMS. RBC Capital Markets restated an “outperform” rating and set a $26.00 target price (down previously from $28.00) on shares of GMS in a report on Wednesday, September 14th. Credit Suisse Group AG restated a “buy” rating on shares of GMS in a report on Tuesday, June 28th. Robert W. Baird started coverage on shares of GMS in a report on Monday, June 20th. They set a “neutral” rating and a $25.00 target price on the stock. Raymond James Financial Inc. started coverage on shares of GMS in a report on Monday, June 20th. They set an “outperform” rating and a $26.00 target price on the stock. Finally, Royal Bank Of Canada boosted their target price on shares of GMS from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, July 13th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. GMS currently has an average rating of “Buy” and an average target price of $25.86.
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GMS (NYSE:GMS) traded up 0.61% during mid-day trading on Monday, reaching $21.38. 121,138 shares of the company were exchanged. The company has a market capitalization of $875.34 million and a PE ratio of 39.09. The stock has a 50-day moving average price of $22.69 and a 200 day moving average price of $23.08. GMS has a one year low of $19.28 and a one year high of $26.42.
GMS (NYSE:GMS) last issued its quarterly earnings data 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 company had revenue of $549.80 million for the quarter. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. Analysts predict that GMS will post $1.76 EPS for the current year.
A number of institutional investors have recently made changes to their positions in the company. Nationwide Fund Advisors purchased a new position in shares of GMS during the second quarter worth about $102,000. Nomura Holdings Inc. acquired a new position in shares of GMS during the second quarter worth $249,000. Schwab Charles Investment Management Inc. acquired a new position in shares of GMS during the second quarter worth $256,000. Bank of New York Mellon Corp acquired a new position in shares of GMS during the second quarter worth $304,000. Finally, California State Teachers Retirement System acquired a new position in shares of GMS during the second quarter worth $332,000. Institutional investors own 19.72% of the company’s stock.
GMS Company Profile
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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