GMS Inc. (NYSE:GMS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

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 analysts have also issued reports on the company. Royal Bank Of Canada boosted their price target on GMS from $34.00 to $39.00 and gave the stock an “outperform” rating in a research report on Thursday, September 7th. Robert W. Baird reissued a “buy” rating and issued a $37.00 price objective on shares of GMS in a research note on Monday, October 9th. Finally, Wells Fargo & Company started coverage on GMS in a research note on Wednesday, October 18th. They issued a “market perform” rating and a $38.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $37.00.

Shares of GMS (NYSE:GMS) traded up $0.30 during midday trading on Friday, hitting $34.03. The stock had a trading volume of 262,923 shares, compared to its average volume of 316,111. The firm has a market capitalization of $1.39 billion, a P/E ratio of 19.61, a P/E/G ratio of 2.41 and a beta of 3.14. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.82 and a current ratio of 2.80.

GMS (NYSE:GMS) last released its quarterly earnings data on Wednesday, September 6th. The company reported $0.47 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.47. GMS had a return on equity of 14.13% and a net margin of 2.28%. The business had revenue of $642.20 million during the quarter, compared to analyst estimates of $645.19 million. During the same quarter in the previous year, the firm posted $0.46 EPS. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. research analysts anticipate that GMS will post 2.01 earnings per share for the current fiscal year.

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In other GMS news, CEO G Michael Callahan, Jr. sold 12,500 shares of the business’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $34.52, for a total value of $431,500.00. Following the transaction, the chief executive officer now owns 528,418 shares in the company, valued at $18,240,989.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lynn Ross sold 1,894 shares of the business’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $34.77, for a total value of $65,854.38. The disclosure for this sale can be found here. Insiders have sold 26,894 shares of company stock worth $931,479 over the last ninety days. 5.90% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of GMS. Principal Financial Group Inc. boosted its stake in shares of GMS by 16.8% during the 3rd quarter. Principal Financial Group Inc. now owns 539,541 shares of the company’s stock worth $19,100,000 after acquiring an additional 77,779 shares in the last quarter. IndexIQ Advisors LLC boosted its stake in shares of GMS by 83.3% during the 3rd quarter. IndexIQ Advisors LLC now owns 24,737 shares of the company’s stock worth $876,000 after acquiring an additional 11,239 shares in the last quarter. Emerald Advisers Inc. PA boosted its stake in shares of GMS by 0.4% during the 3rd quarter. Emerald Advisers Inc. PA now owns 819,787 shares of the company’s stock worth $29,020,000 after acquiring an additional 3,530 shares in the last quarter. Parametrica Management Ltd bought a new stake in shares of GMS during the 3rd quarter worth about $548,000. Finally, Victory Capital Management Inc. bought a new stake in shares of GMS during the 3rd quarter worth about $182,000. Hedge funds and other institutional investors own 56.11% of the company’s stock.

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.

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