SunTrust Banks Raises GMS (GMS) Price Target to $45.00

GMS (NYSE:GMS) had its price target boosted by SunTrust Banks to $45.00 in a research note issued on Monday, The Fly reports. The brokerage presently has a “buy” rating on the stock. SunTrust Banks’ price objective points to a potential upside of 15.47% from the stock’s previous close. SunTrust Banks also issued estimates for GMS’s FY2018 earnings at $1.96 EPS, Q1 2019 earnings at $0.60 EPS, Q2 2019 earnings at $0.65 EPS, Q4 2019 earnings at $0.70 EPS and FY2019 earnings at $2.42 EPS.

GMS has been the topic of a number of other research reports. Zacks Investment Research downgraded GMS from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Royal Bank Of Canada reissued a “buy” rating and issued a $46.00 price target on shares of GMS in a report on Friday. ValuEngine downgraded GMS from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Robert W. Baird reissued a “buy” rating and issued a $37.00 price target on shares of GMS in a report on Monday, October 9th. Finally, Wells Fargo & Company began coverage on GMS in a report on Wednesday, October 18th. They issued a “market perform” rating and a $38.00 price target on the stock. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $39.63.

GMS (NYSE:GMS) traded up $0.40 during trading hours on Monday, reaching $38.97. The company’s stock had a trading volume of 292,949 shares, compared to its average volume of 365,914. The company has a current ratio of 2.62, a quick ratio of 1.70 and a debt-to-equity ratio of 1.06. GMS has a 52 week low of $25.87 and a 52 week high of $39.98. The company has a market cap of $1,582.56, a P/E ratio of 21.67, a PEG ratio of 2.75 and a beta of 3.20.

GMS (NYSE:GMS) last released its earnings results on Thursday, December 7th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). GMS had a return on equity of 14.24% and a net margin of 2.26%. The firm had revenue of $648.00 million for the quarter, compared to the consensus estimate of $662.03 million. During the same period in the prior year, the business earned $0.49 EPS. The company’s quarterly revenue was up 9.5% on a year-over-year basis. analysts anticipate that GMS will post 2.01 earnings per share for the current fiscal year.

In other GMS news, CFO H Douglas Goforth sold 102,282 shares of GMS stock in a transaction on Monday, December 4th. The stock was sold at an average price of $37.57, for a total transaction of $3,842,734.74. Following the sale, the chief financial officer now owns 82,563 shares of the company’s stock, valued at approximately $3,101,891.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO G Michael Callahan, Jr. sold 12,500 shares of GMS stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $34.73, for a total value of $434,125.00. Following the sale, the chief executive officer now directly owns 528,418 shares in the company, valued at approximately $18,351,957.14. The disclosure for this sale can be found here. In the last three months, insiders sold 202,676 shares of company stock worth $7,488,934. Company insiders own 5.90% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Great West Life Assurance Co. Can raised its stake in GMS by 213.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 2,823 shares of the company’s stock valued at $100,000 after acquiring an additional 1,923 shares in the last quarter. Macquarie Group Ltd. bought a new stake in GMS during the 3rd quarter valued at $170,000. Victory Capital Management Inc. bought a new stake in GMS during the 3rd quarter valued at $182,000. Metropolitan Life Insurance Co. NY raised its stake in GMS by 386.4% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 5,190 shares of the company’s stock valued at $182,000 after acquiring an additional 4,123 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in GMS by 403.2% during the 2nd quarter. Legal & General Group Plc now owns 5,621 shares of the company’s stock valued at $160,000 after acquiring an additional 4,504 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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GMS Company Profile

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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