GMS Inc. (GMS) Price Target Increased to $39.00 by Analysts at Royal Bank Of Canada
GMS Inc. (NYSE:GMS) had its target price increased by research analysts at Royal Bank Of Canada from $34.00 to $39.00 in a note issued to investors on Thursday, Marketbeat reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 16.70% from the company’s current price.
Other equities research analysts have also recently issued research reports about the company. Stephens cut their price target on GMS from $40.00 to $36.00 and set an “overweight” rating for the company in a report on Monday, July 3rd. Northcoast Research upgraded GMS from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Monday, July 3rd. Zacks Investment Research upgraded GMS from a “sell” rating to a “hold” rating in a research report on Monday. Finally, ValuEngine upgraded GMS from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $36.33.
GMS (NYSE:GMS) traded up 2.66% on Thursday, hitting $34.31. The stock had a trading volume of 423,945 shares. GMS has a 52-week low of $20.23 and a 52-week high of $36.99. The company has a market cap of $1.41 billion, a P/E ratio of 28.83 and a beta of 3.31. The firm’s 50-day moving average is $30.03 and its 200-day moving average is $32.08.
GMS (NYSE:GMS) last posted its quarterly earnings results on Wednesday, September 6th. The company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. GMS had a return on equity of 14.15% and a net margin of 2.11%. The firm had revenue of $642.20 million during the quarter, compared to analysts’ expectations of $645.19 million. During the same quarter last year, the firm earned $0.46 earnings per share. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. Equities research analysts anticipate that GMS will post $1.99 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of GMS. Citadel Advisors LLC grew its position in GMS by 294.7% in the first quarter. Citadel Advisors LLC now owns 1,162,177 shares of the company’s stock worth $40,722,000 after acquiring an additional 867,736 shares during the period. Vanguard Group Inc. grew its position in GMS by 71.6% in the first quarter. Vanguard Group Inc. now owns 1,973,231 shares of the company’s stock worth $69,142,000 after acquiring an additional 822,997 shares during the period. The Manufacturers Life Insurance Company grew its position in GMS by 1,659.1% in the second quarter. The Manufacturers Life Insurance Company now owns 827,403 shares of the company’s stock worth $23,250,000 after acquiring an additional 780,368 shares during the period. Wells Fargo & Company MN grew its position in GMS by 13,592.0% in the first quarter. Wells Fargo & Company MN now owns 669,950 shares of the company’s stock worth $23,476,000 after acquiring an additional 665,057 shares during the period. Finally, FMR LLC purchased a new position in GMS in the first quarter worth approximately $20,972,000. Institutional investors own 55.51% of the company’s stock.
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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