GMS (GMS) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of GMS (NYSE:GMS) from a sell rating to a hold rating in a research report released on Monday morning.

According to Zacks, “GMS Inc. is a distributor of wallboard and suspended ceilings systems. The company’s product consists of wallboard, suspended ceilings systems or ceilings and complementary interior construction products in commercial and residential buildings. GMS Inc. is based in Tucker, United States. “

Several other equities research analysts also recently commented on the company. ValuEngine downgraded GMS from a buy rating to a hold rating in a report on Friday. SunTrust Banks reissued a buy rating and set a $40.00 price target on shares of GMS in a research report on Friday, November 10th. Wells Fargo & Company assumed coverage on GMS in a research report on Wednesday, October 18th. They set a market perform rating and a $38.00 price target on the stock. Royal Bank Of Canada reissued a buy rating and set a $39.00 price target on shares of GMS in a research report on Tuesday, October 10th. Finally, Robert W. Baird reissued a buy rating and set a $37.00 price target on shares of GMS in a research report on Monday, October 9th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $37.38.

Shares of GMS (NYSE:GMS) traded up $0.55 during midday trading on Monday, hitting $38.04. The stock had a trading volume of 761,600 shares, compared to its average volume of 361,339. GMS has a twelve month low of $25.01 and a twelve month high of $38.08. The stock has a market capitalization of $1,536.00, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 2.66 and a beta of 3.20. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.82 and a current ratio of 2.80.

GMS (NYSE:GMS) last announced its earnings results on Wednesday, September 6th. The company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. GMS had a return on equity of 14.13% and a net margin of 2.28%. The business had revenue of $642.20 million during the quarter, compared to the consensus estimate of $645.19 million. During the same period in the prior year, the business posted $0.46 earnings per share. GMS’s revenue was up 16.8% compared to the same quarter last year. research analysts anticipate that GMS will post 2.01 earnings per share for the current fiscal year.

In other GMS news, CEO G Michael Callahan, Jr. sold 12,500 shares of the company’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $34.73, for a total value of $434,125.00. Following the transaction, the chief executive officer now directly owns 528,418 shares of the company’s stock, valued at approximately $18,351,957.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO H Douglas Goforth sold 102,282 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $37.57, for a total value of $3,842,734.74. Following the completion of the transaction, the chief financial officer now directly owns 82,563 shares in the company, valued at $3,101,891.91. The disclosure for this sale can be found here. Insiders have sold 202,676 shares of company stock worth $7,488,934 over the last three months. 5.90% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of GMS by 17.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,312,282 shares of the company’s stock valued at $64,976,000 after acquiring an additional 339,051 shares during the last quarter. Citadel Advisors LLC increased its holdings in shares of GMS by 3.2% during the 2nd quarter. Citadel Advisors LLC now owns 1,199,845 shares of the company’s stock valued at $33,716,000 after acquiring an additional 37,668 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of GMS by 43.4% during the 2nd quarter. Wells Fargo & Company MN now owns 960,661 shares of the company’s stock valued at $26,994,000 after acquiring an additional 290,711 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of GMS by 1,659.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 827,403 shares of the company’s stock valued at $23,250,000 after acquiring an additional 780,368 shares during the last quarter. Finally, Emerald Advisers Inc. PA increased its holdings in shares of GMS by 0.4% during the 3rd quarter. Emerald Advisers Inc. PA now owns 819,787 shares of the company’s stock valued at $29,020,000 after acquiring an additional 3,530 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.

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GMS Company Profile

GMS Inc is a distributor of wallboard and suspended ceilings systems, or ceilings. The Company provides a product offering of over 20,000 stock keeping units (SKUs) of wallboard, ceilings and complementary interior construction products for interior contractors. It offers steel framing and ancillary products for its customers.

Analyst Recommendations for GMS (NYSE:GMS)

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