GMS Inc. (GMS) Given Consensus Recommendation of “Buy” by Brokerages
Shares of GMS Inc. (NYSE:GMS) have been given a consensus rating of “Buy” by the eight analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $36.20.
A number of analysts recently weighed in on the company. ValuEngine upgraded GMS from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Royal Bank Of Canada restated a “buy” rating and issued a $38.00 price target on shares of GMS in a research note on Monday, June 19th. Zacks Investment Research downgraded GMS from a “hold” rating to a “sell” rating in a research note on Monday, July 3rd. Stephens decreased their price target on GMS from $40.00 to $36.00 and set an “overweight” rating on the stock in a research note on Monday, July 3rd. Finally, Northcoast Research upgraded GMS from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Monday, July 3rd.
In other GMS news, SVP Richard Alan Adams sold 83,950 shares of the business’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $31.68, for a total transaction of $2,659,536.00. Following the sale, the senior vice president now directly owns 170,000 shares in the company, valued at $5,385,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Richard K. Mueller sold 1,000,000 shares of the business’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $31.68, for a total value of $31,680,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,986,079 shares of company stock worth $126,278,983.
A number of hedge funds have recently bought and sold shares of GMS. Renaissance Technologies LLC purchased a new stake in GMS during the first quarter worth approximately $7,656,000. State Street Corp increased its stake in GMS by 9.6% in the fourth quarter. State Street Corp now owns 123,409 shares of the company’s stock worth $3,611,000 after buying an additional 10,847 shares during the last quarter. TFS Capital LLC purchased a new stake in GMS during the first quarter worth approximately $221,000. Daiwa Securities Group Inc. purchased a new stake in GMS during the first quarter worth approximately $2,540,000. Finally, JPMorgan Chase & Co. increased its stake in GMS by 415.8% in the first quarter. JPMorgan Chase & Co. now owns 44,811 shares of the company’s stock worth $1,570,000 after buying an additional 36,124 shares during the last quarter. Institutional investors own 41.32% of the company’s stock.
Shares of GMS (GMS) traded down 0.34% on Tuesday, hitting $29.72. The stock had a trading volume of 169,843 shares. The firm has a 50 day moving average of $29.37 and a 200 day moving average of $31.98. The stock has a market cap of $1.22 billion, a P/E ratio of 24.97 and a beta of 3.53. GMS has a 12 month low of $20.23 and a 12 month high of $36.99.
GMS (NYSE:GMS) last posted its quarterly earnings results on Thursday, June 29th. The company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. GMS had a return on equity of 14.15% and a net margin of 2.11%. The firm had revenue of $615 million for the quarter, compared to the consensus estimate of $614.93 million. During the same period in the previous year, the business earned $0.53 earnings per share. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. On average, equities analysts forecast that GMS will post $1.99 earnings per share for the current fiscal year.
GMS Inc is a distributor of wallboard and suspended ceilings systems, or ceilings. The Company provides a product offering of over 20,000 stock keeping units (SKUs) of wallboard, ceilings and complementary interior construction products for interior contractors. It offers steel framing and ancillary products for its customers.
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