GMS (NYSE:GMS) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of GMS (NYSE:GMS) from a buy rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

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 analysts have also commented on GMS. SunTrust Banks lowered their price target on shares of GMS from $33.00 to $27.00 and set a buy rating for the company in a research report on Thursday, April 16th. Nomura Instinet upped their target price on shares of GMS from $17.00 to $25.00 and gave the stock a neutral rating in a research report on Friday, June 26th. Nomura raised their price target on shares of GMS from $17.00 to $25.00 and gave the company a neutral rating in a research note on Friday, June 26th. Raymond James reduced their price objective on GMS from $30.00 to $24.00 and set a strong-buy rating for the company in a research report on Monday, March 16th. Finally, Nomura Securities lowered their target price on GMS from $19.00 to $17.00 and set a neutral rating on the stock in a research report on Friday, April 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. GMS currently has a consensus rating of Hold and an average target price of $25.73.

Shares of GMS opened at $23.08 on Wednesday. The business’s fifty day moving average price is $22.55 and its 200 day moving average price is $21.88. GMS has a 12-month low of $10.39 and a 12-month high of $32.42. The stock has a market capitalization of $959.01 million, a PE ratio of 7.58 and a beta of 2.02. The company has a debt-to-equity ratio of 1.79, a current ratio of 2.18 and a quick ratio of 1.48.

GMS (NYSE:GMS) last announced its quarterly earnings data on Thursday, June 25th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.04. GMS had a return on equity of 18.74% and a net margin of 0.72%. The firm had revenue of $770.90 million for the quarter, compared to analysts’ expectations of $734.20 million. During the same period last year, the business posted $0.68 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, research analysts anticipate that GMS will post 2.71 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP raised its holdings in GMS by 31.9% during the first quarter. First Trust Advisors LP now owns 76,465 shares of the company’s stock worth $1,203,000 after purchasing an additional 18,505 shares in the last quarter. Bank of Montreal Can increased its position in shares of GMS by 59.0% during the 4th quarter. Bank of Montreal Can now owns 5,662 shares of the company’s stock valued at $153,000 after purchasing an additional 2,101 shares during the period. Vident Investment Advisory LLC bought a new stake in shares of GMS in the 1st quarter worth $802,000. Citigroup Inc. lifted its holdings in shares of GMS by 39.6% in the first quarter. Citigroup Inc. now owns 43,380 shares of the company’s stock valued at $682,000 after buying an additional 12,296 shares during the period. Finally, State Street Corp boosted its stake in GMS by 15.5% during the first quarter. State Street Corp now owns 1,274,706 shares of the company’s stock valued at $20,051,000 after buying an additional 171,426 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

About GMS

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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