GMS (NYSE:GMS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage presently has a $18.00 price objective on the stock. Zacks Investment Research‘s target price would indicate a potential downside of 0.22% from the stock’s current price.
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 brokerages have also commented on GMS. Raymond James boosted their price target on GMS from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, August 31st. TheStreet lowered GMS from a “c-” rating to a “d+” rating in a research note on Wednesday, October 24th. ValuEngine lowered GMS from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 4th. Finally, Nomura boosted their price target on GMS from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, August 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. GMS has a consensus rating of “Buy” and an average target price of $35.10.
Shares of NYSE:GMS opened at $18.04 on Thursday. GMS has a 1-year low of $14.89 and a 1-year high of $39.98. The company has a market cap of $662.33 million, a PE ratio of 8.98, a PEG ratio of 0.70 and a beta of 1.25. The company has a current ratio of 3.08, a quick ratio of 1.93 and a debt-to-equity ratio of 2.05.
GMS (NYSE:GMS) last announced its quarterly earnings results on Thursday, August 30th. The company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.09. The business had revenue of $778.10 million for the quarter, compared to analyst estimates of $768.61 million. GMS had a return on equity of 15.18% and a net margin of 2.13%. GMS’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.47 EPS. Research analysts expect that GMS will post 3.3 EPS for the current year.
In other GMS news, VP Richard Alan Adams acquired 3,000 shares of the business’s stock in a transaction on Wednesday, September 5th. The stock was purchased at an average price of $24.14 per share, for a total transaction of $72,420.00. Following the transaction, the vice president now owns 175,000 shares in the company, valued at approximately $4,224,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John J. Gavin acquired 4,150 shares of the business’s stock in a transaction on Monday, September 10th. The stock was acquired at an average price of $24.13 per share, with a total value of $100,139.50. Following the transaction, the director now owns 16,966 shares in the company, valued at approximately $409,389.58. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 9,211 shares of company stock worth $222,559. 4.90% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of GMS. Northern Trust Corp raised its position in GMS by 14.0% in the 1st quarter. Northern Trust Corp now owns 374,506 shares of the company’s stock valued at $11,445,000 after purchasing an additional 45,937 shares during the last quarter. BlackRock Inc. raised its position in GMS by 13.3% in the 1st quarter. BlackRock Inc. now owns 1,913,608 shares of the company’s stock valued at $58,480,000 after purchasing an additional 224,622 shares during the last quarter. Dimensional Fund Advisors LP raised its position in GMS by 21.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 666,375 shares of the company’s stock valued at $20,364,000 after purchasing an additional 119,144 shares during the last quarter. California State Teachers Retirement System raised its position in GMS by 14.4% in the 1st quarter. California State Teachers Retirement System now owns 49,544 shares of the company’s stock valued at $1,514,000 after purchasing an additional 6,227 shares during the last quarter. Finally, Xact Kapitalforvaltning AB bought a new position in GMS in the 1st quarter valued at $233,000. Hedge funds and other institutional investors own 75.67% of the company’s stock.
GMS Company Profile
GMS Inc distributes wallboards, suspended ceilings systems, and related construction products in the United States and Canada. The company offers wallboard products; and 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.
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