Barclays Begins Coverage on GMS (GMS)

Barclays assumed coverage on shares of GMS (NYSE:GMS) in a research report released on Friday. The brokerage issued an overweight rating and a $30.00 price objective on the stock.

Other analysts have also recently issued research reports about the company. TheStreet raised GMS from a c rating to a b- rating in a report on Friday, May 25th. Instinet assumed coverage on GMS in a report on Tuesday, March 13th. They issued a buy rating and a $40.00 price target on the stock. Zacks Investment Research raised GMS from a hold rating to a buy rating and set a $34.00 price target on the stock in a report on Wednesday, May 9th. ValuEngine cut GMS from a hold rating to a sell rating in a report on Thursday. Finally, Nomura assumed coverage on GMS in a report on Tuesday, March 13th. They issued a buy rating and a $40.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $36.50.

Shares of GMS opened at $27.09 on Friday. The stock has a market cap of $1.11 billion, a P/E ratio of 13.48, a P/E/G ratio of 1.40 and a beta of 1.47. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.80 and a current ratio of 2.91. GMS has a 52-week low of $23.50 and a 52-week high of $39.98.

GMS (NYSE:GMS) last issued its quarterly earnings data on Thursday, June 28th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.10). The company had revenue of $635.80 million for the quarter, compared to analysts’ expectations of $674.08 million. GMS had a return on equity of 13.19% and a net margin of 2.51%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the company posted $0.48 EPS. research analysts expect that GMS will post 2.76 EPS for the current year.

In other news, insider G Michael Callahan, Jr. sold 12,500 shares of the stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $29.32, for a total transaction of $366,500.00. Following the transaction, the insider now directly owns 428,314 shares in the company, valued at approximately $12,558,166.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 37,605 shares of company stock worth $1,154,610 over the last quarter. Corporate insiders own 5.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. MetLife Investment Advisors LLC increased its position in shares of GMS by 13.7% during the 1st quarter. MetLife Investment Advisors LLC now owns 14,993 shares of the company’s stock valued at $458,000 after purchasing an additional 1,810 shares during the last quarter. American International Group Inc. grew its position in GMS by 12.3% during the 1st quarter. American International Group Inc. now owns 20,796 shares of the company’s stock worth $636,000 after acquiring an additional 2,285 shares during the last quarter. SG Americas Securities LLC grew its position in GMS by 67.8% during the 1st quarter. SG Americas Securities LLC now owns 5,745 shares of the company’s stock worth $176,000 after acquiring an additional 2,322 shares during the last quarter. Paloma Partners Management Co grew its position in GMS by 42.1% during the 4th quarter. Paloma Partners Management Co now owns 8,719 shares of the company’s stock worth $328,000 after acquiring an additional 2,583 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in GMS by 54.2% during the 1st quarter. Victory Capital Management Inc. now owns 8,688 shares of the company’s stock worth $266,000 after acquiring an additional 3,055 shares during the last quarter. Hedge funds and other institutional investors own 74.04% of the company’s stock.

About GMS

GMS Inc distributes wallboards, suspended ceilings systems, and complementary interior construction products in North America. The company offers wallboard products; and ceilings products, such as suspended mineral fibers, soft fibers, and metal ceiling systems primarily used in offices, hotels, hospitals, retail facilities, schools, and other commercial and institutional buildings.

Analyst Recommendations for GMS (NYSE:GMS)

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