GMS (NYSE:GMS) Sees Strong Trading Volume After Analyst Upgrade

Shares of GMS Inc. (NYSE:GMSGet Free Report) saw unusually-strong trading volume on Friday after Truist Financial raised their price target on the stock from $80.00 to $105.00. Truist Financial currently has a hold rating on the stock. Approximately 1,739,981 shares were traded during mid-day trading, an increase of 312% from the previous session’s volume of 421,893 shares.The stock last traded at $104.37 and had previously closed at $81.01.

A number of other research analysts also recently weighed in on the company. Loop Capital cut their price objective on GMS from $93.00 to $80.00 and set a “hold” rating on the stock in a research note on Monday, March 10th. DA Davidson lowered their target price on GMS from $94.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Stephens raised their target price on GMS from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Friday. Robert W. Baird set a $93.00 target price on GMS in a report on Tuesday. Finally, Raymond James Financial raised their target price on GMS from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $90.36.

Read Our Latest Stock Report on GMS

Insider Transactions at GMS

In other news, CEO John C. Turner, Jr. acquired 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 acquisition, the chief executive officer now owns 66,928 shares of the company’s stock, valued at $4,684,960. This trade represents a 5.77% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Theron I. Gilliam sold 12,474 shares of GMS stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total value of $916,340.04. Following the sale, the director now directly owns 31,507 shares in the company, valued at $2,314,504.22. The trade was a 28.36% decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

Institutional Trading of GMS

Several institutional investors have recently modified their holdings of GMS. Rhumbline Advisers grew its holdings in shares of GMS by 2.0% during the 4th quarter. Rhumbline Advisers now owns 109,240 shares of the company’s stock worth $9,267,000 after purchasing an additional 2,180 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in GMS by 1.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 21,152 shares of the company’s stock valued at $1,794,000 after buying an additional 347 shares in the last quarter. Principal Financial Group Inc. boosted its stake in GMS by 3.3% in the 4th quarter. Principal Financial Group Inc. now owns 220,249 shares of the company’s stock valued at $18,684,000 after buying an additional 7,001 shares in the last quarter. New York State Common Retirement Fund boosted its stake in GMS by 109.5% in the 4th quarter. New York State Common Retirement Fund now owns 26,053 shares of the company’s stock valued at $2,210,000 after buying an additional 13,615 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in GMS by 26.5% in the 4th quarter. Handelsbanken Fonder AB now owns 11,937 shares of the company’s stock valued at $1,013,000 after buying an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 95.28% of the company’s stock.

GMS Trading Up 24.2%

The company has a 50 day moving average of $75.45 and a 200 day moving average of $79.17. The company has a current ratio of 1.91, a quick ratio of 1.38 and a debt-to-equity ratio of 0.85. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 34.82 and a beta of 1.62.

GMS (NYSE:GMSGet Free Report) last announced its quarterly earnings results on Wednesday, June 18th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.11 by $0.18. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.30 billion. GMS had a return on equity of 15.29% and a net margin of 2.09%. GMS’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.93 EPS. As a group, research analysts anticipate that GMS Inc. will post 7.26 EPS for the current year.

About GMS

(Get Free Report)

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.

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