GMS (NYSE:GMS) Downgraded to “Hold” Rating by Baird R W

GMS (NYSE:GMS) was downgraded by investment analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also recently commented on the stock. Barclays upped their price target on shares of GMS from $71.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, June 20th. Royal Bank Of Canada boosted their target price on shares of GMS from $65.00 to $95.20 and gave the company a “sector perform” rating in a report on Tuesday, June 17th. DA Davidson raised GMS from a “hold” rating to a “strong-buy” rating in a report on Friday, June 20th. Stephens lifted their price target on GMS from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, June 20th. Finally, Truist Financial increased their price objective on GMS from $80.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, June 20th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, GMS presently has a consensus rating of “Hold” and a consensus target price of $90.58.

GMS Price Performance

Shares of NYSE GMS opened at $99.62 on Monday. The company has a market capitalization of $3.79 billion, a PE ratio of 34.47 and a beta of 1.62. The company has a quick ratio of 1.17, a current ratio of 1.91 and a debt-to-equity ratio of 0.85. The stock’s 50 day moving average price is $76.55 and its 200-day moving average price is $79.05. GMS has a twelve month low of $65.77 and a twelve month high of $105.54.

GMS (NYSE:GMS) last announced its quarterly earnings data on Wednesday, June 18th. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.11 by $0.18. GMS had a net margin of 2.09% and a return on equity of 16.97%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the firm posted $1.93 earnings per share. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, equities analysts anticipate that GMS will post 7.26 EPS for the current year.

Insider Buying and Selling at GMS

In other GMS news, CEO John C. Turner, Jr. purchased 3,650 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was bought at an average cost of $70.00 per share, with a total value of $255,500.00. Following the transaction, the chief executive officer now directly owns 66,928 shares in the company, valued at approximately $4,684,960. The trade was a 5.77% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 shares were sold at an average price of $73.46, for a total transaction of $916,340.04. Following the transaction, the director now owns 31,507 shares of the company’s stock, valued at $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. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On GMS

A number of hedge funds have recently bought and sold shares of the business. Summit Investment Advisors Inc. boosted its holdings in shares of GMS by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,130 shares of the company’s stock worth $350,000 after buying an additional 131 shares during the last quarter. Yousif Capital Management LLC raised its position in GMS by 1.0% in the first quarter. Yousif Capital Management LLC now owns 15,143 shares of the company’s stock worth $1,108,000 after acquiring an additional 147 shares during the period. Rockefeller Capital Management L.P. boosted its stake in shares of GMS by 0.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 37,507 shares of the company’s stock worth $3,182,000 after acquiring an additional 148 shares during the last quarter. Vise Technologies Inc. grew its position in shares of GMS by 2.3% during 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 during the period. Finally, SummerHaven Investment Management LLC grew its position in shares of GMS by 1.8% during the 1st quarter. SummerHaven Investment Management LLC now owns 9,776 shares of the company’s stock valued at $715,000 after acquiring an additional 171 shares during the period. Hedge funds and other institutional investors own 95.28% of the company’s stock.

About GMS

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.