GMR Solutions Inc.’s (NYSE:GMRS) Quiet Period Will Expire on June 22nd

GMR Solutions’ (NYSE:GMRS) quiet period will expire on Monday, June 22nd. GMR Solutions had issued 31,914,893 shares in its IPO on May 13th. The total size of the offering was $478,723,395 based on an initial share price of $15.00. During GMR Solutions’ quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analyst Weigh In

GMRS has been the topic of several research reports. JPMorgan Chase & Co. initiated coverage on shares of GMR Solutions in a report on Monday, June 8th. They issued an “overweight” rating and a $15.00 price target on the stock. Wall Street Zen raised shares of GMR Solutions to a “hold” rating in a report on Saturday, May 23rd. Citigroup initiated coverage on shares of GMR Solutions in a report on Sunday, June 7th. They set a “buy” rating and a $17.00 target price for the company. Needham & Company LLC set a $18.00 target price on shares of GMR Solutions in a research report on Monday, June 8th. Finally, UBS Group assumed coverage on shares of GMR Solutions in a report on Monday, June 8th. They issued a “buy” rating and a $20.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, GMR Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.22.

GMR Solutions Trading Up 0.5%

Shares of GMR Solutions stock opened at $12.41 on Monday. GMR Solutions has a twelve month low of $10.26 and a twelve month high of $15.00.

GMR Solutions (NYSE:GMRS) last announced its earnings results on Monday, June 1st. The company reported $999.00 earnings per share (EPS) for the quarter. The business had revenue of $1.46 billion for the quarter.