Brokerages Set GMS Inc. (NYSE:GMS) Price Target at $80.50

Shares of GMS Inc. (NYSE:GMS) have been assigned an average recommendation of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $80.50.

A number of research firms recently issued reports on GMS. Truist Financial cut their price target on GMS from $97.00 to $80.00 and set a “hold” rating for the company in a report on Friday, March 7th. Loop Capital cut their price target on GMS from $93.00 to $80.00 and set a “hold” rating for the company in a report on Monday, March 10th. DA Davidson cut their price target on GMS from $94.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Royal Bank of Canada cut their price target on GMS from $82.00 to $65.00 and set a “sector perform” rating for the company in a report on Friday, March 7th. Finally, UBS Group set a $80.00 price target on GMS in a report on Friday, March 7th.

GMS Stock Up 2.6%

Shares of NYSE GMS opened at $77.16 on Friday. The stock has a market cap of $2.96 billion, a PE ratio of 14.18 and a beta of 1.66. The business has a fifty day moving average of $72.72 and a two-hundred day moving average of $83.22. GMS has a 52-week low of $65.77 and a 52-week high of $105.54. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.23.

GMS (NYSE:GMS) last issued its quarterly earnings data on Thursday, March 6th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.47). GMS had a net margin of 3.92% and a return on equity of 20.67%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.29 billion. As a group, equities research analysts expect that GMS will post 7.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Theron I. Gilliam sold 12,474 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total transaction of $916,340.04. Following the completion of the transaction, the director now directly owns 31,507 shares in the company, valued at approximately $2,314,504.22. The trade was a 28.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John C. Turner, Jr. bought 3,650 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were bought at an average price of $70.00 per share, with a total value of $255,500.00. Following the completion of the transaction, the chief executive officer now directly owns 66,928 shares in the company, valued at approximately $4,684,960. This trade represents a 5.77% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On GMS

Several institutional investors have recently modified their holdings of the stock. Summit Investment Advisors Inc. lifted its stake in GMS by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,130 shares of the company’s stock valued at $350,000 after acquiring an additional 131 shares in the last quarter. Inspire Investing LLC lifted its stake in GMS by 2.9% in the 4th quarter. Inspire Investing LLC now owns 4,716 shares of the company’s stock valued at $400,000 after acquiring an additional 134 shares in the last quarter. Yousif Capital Management LLC lifted its stake in GMS by 1.0% in the 1st quarter. Yousif Capital Management LLC now owns 15,143 shares of the company’s stock valued at $1,108,000 after acquiring an additional 147 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in GMS by 0.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 37,507 shares of the company’s stock valued at $3,182,000 after acquiring an additional 148 shares in the last quarter. Finally, Vise Technologies Inc. lifted its stake in GMS by 2.3% in the 4th quarter. Vise Technologies Inc. now owns 7,090 shares of the company’s stock valued at $601,000 after acquiring an additional 162 shares in the last quarter. 95.28% of the stock is currently owned by institutional investors and hedge funds.

GMS Company Profile

GMS Inc distributes wallboard, ceilings, steel framing and complementary construction products in the United States and Canada. The company offers ceilings products, including suspended mineral fibers, soft fibers, and metal ceiling systems primarily used in offices, hotels, hospitals, retail facilities, schools, and various other commercial and institutional buildings.