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.

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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.

About GMS

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.

Analyst Recommendations for GMS (NYSE:GMS)

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