Barclays Forecasts Strong Price Appreciation for GMS (NYSE:GMS) Stock

GMS (NYSE:GMS) had its price target increased by research analysts at Barclays from $71.00 to $95.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential downside of 5.59% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. Stephens upped their price objective on shares of GMS from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group set a $80.00 price target on GMS in a research note on Friday, March 7th. Loop Capital reduced 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. Truist Financial set a $80.00 price target on GMS in a research report on Tuesday. Finally, Robert W. Baird set a $93.00 price objective on GMS in a report on Tuesday. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $90.36.

GMS Price Performance

Shares of NYSE GMS opened at $100.62 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.91 and a quick ratio of 1.38. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 34.82 and a beta of 1.62. The firm’s 50 day simple moving average is $75.45 and its 200-day simple moving average is $79.01. GMS has a 12 month low of $65.77 and a 12 month high of $105.54.

GMS (NYSE:GMS) last announced its quarterly earnings results on Wednesday, June 18th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.18. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.30 billion. GMS had a net margin of 2.09% and a return on equity of 15.29%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.93 earnings per share. Analysts expect that GMS will post 7.26 EPS for the current year.

Insider Transactions at GMS

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

Institutional Trading of GMS

A number of institutional investors have recently made changes to their positions in the company. AlphaQuest LLC raised its stake in GMS by 1,710.5% in the 4th quarter. AlphaQuest LLC now owns 344 shares of the company’s stock valued at $29,000 after purchasing an additional 325 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in GMS during the 4th quarter worth $34,000. Eukles Asset Management purchased a new stake in shares of GMS during the first quarter worth $33,000. Brooklyn Investment Group acquired a new stake in shares of GMS in the first quarter valued at about $47,000. Finally, Versant Capital Management Inc raised its position in shares of GMS by 170.5% in the first quarter. Versant Capital Management Inc now owns 706 shares of the company’s stock valued at $52,000 after buying an additional 445 shares during the last quarter. 95.28% of the stock is 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.