GMS (NYSE:GMS – Get Free Report) was downgraded by investment analysts at Raymond James Financial from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, Marketbeat Ratings reports.
GMS has been the subject of a number of other reports. Loop Capital dropped their price target on shares of GMS from $93.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, March 10th. Robert W. Baird reiterated a “neutral” rating and issued a $95.00 price target (up from $93.00) on shares of GMS in a report on Monday. Stephens raised their price target on GMS from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. Royal Bank Of Canada upped their price objective on GMS from $65.00 to $95.20 and gave the company a “sector perform” rating in a research report on Tuesday, June 17th. Finally, Barclays increased their target price on GMS from $71.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, June 20th. Eight equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, GMS currently has a consensus rating of “Hold” and an average target price of $90.58.
Read Our Latest Analysis on GMS
GMS Price Performance
GMS (NYSE:GMS – Get Free Report) last posted its earnings results on Wednesday, June 18th. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.18. GMS had a return on equity of 16.97% and a net margin of 2.09%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the business earned $1.93 earnings per share. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, sell-side analysts expect that GMS will post 7.26 earnings per share for the current fiscal year.
Insider Buying and Selling
In other GMS news, Director Theron I. Gilliam sold 12,474 shares of the firm’s stock in a transaction dated 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 approximately $2,314,504.22. This trade represents a 28.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John C. Turner, Jr. purchased 3,650 shares of GMS stock in a transaction dated Monday, April 7th. The stock was acquired 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 in the company, valued at approximately $4,684,960. This represents a 5.77% increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is owned by insiders.
Hedge Funds Weigh In On GMS
A number of large investors have recently bought and sold shares of GMS. FMR LLC boosted its position in GMS by 38.7% during the 4th quarter. FMR LLC now owns 5,868,782 shares of the company’s stock valued at $497,849,000 after acquiring an additional 1,636,612 shares in the last quarter. Coliseum Capital Management LLC boosted its position in GMS by 81.9% during the first quarter. Coliseum Capital Management LLC now owns 3,437,488 shares of the company’s stock valued at $251,521,000 after purchasing an additional 1,547,999 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in GMS by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,154,021 shares of the company’s stock valued at $157,609,000 after purchasing an additional 31,230 shares during the last quarter. American Century Companies Inc. raised its holdings in GMS by 12.9% in the first quarter. American Century Companies Inc. now owns 1,660,194 shares of the company’s stock worth $121,476,000 after purchasing an additional 189,760 shares in the last quarter. Finally, Westwood Holdings Group Inc. lifted its position in shares of GMS by 29.4% during the first quarter. Westwood Holdings Group Inc. now owns 933,262 shares of the company’s stock valued at $68,287,000 after buying an additional 212,128 shares during the last quarter. 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.
Recommended Stories
- Five stocks we like better than GMS
- 3 Ways To Invest In Coffee, Other Than Drinking It
- Astera Labs: AI Infrastructure Play With Significant Growth Ahead
- What is the S&P 500 and How It is Distinct from Other Indexes
- Is IBM’s AI Transformation Powering a Sustained Rally?
- Where to Find Earnings Call Transcripts
- NVIDIA’s Stock Price Hits New Highs: This Is What’s Next
Receive News & Ratings for GMS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GMS and related companies with MarketBeat.com's FREE daily email newsletter.