Barclays Cuts GMS (NYSE:GMS) Price Target to $71.00

GMS (NYSE:GMS) had its price objective lowered by Barclays from $80.00 to $71.00 in a research report released on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

GMS has been the topic of a number of other reports. Loop Capital boosted their price target on shares of GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, November 25th. DA Davidson dropped their price target on shares of GMS from $94.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Robert W. Baird dropped their price target on shares of GMS from $110.00 to $93.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Truist Financial dropped their target price on shares of GMS from $97.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, March 7th. Finally, Royal Bank of Canada dropped their target price on shares of GMS from $82.00 to $65.00 and set a “sector perform” rating on the stock in a report on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $80.50.

GMS Stock Down 0.2 %

GMS stock opened at $70.50 on Monday. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. GMS has a fifty-two week low of $65.88 and a fifty-two week high of $105.54. The firm’s 50-day simple moving average is $81.51 and its 200 day simple moving average is $88.42. The stock has a market cap of $2.74 billion, a PE ratio of 12.96 and a beta of 1.73.

GMS (NYSE:GMS) last released its quarterly earnings data on Thursday, March 6th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.47). GMS had a return on equity of 20.67% and a net margin of 3.92%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.29 billion. As a group, sell-side analysts predict that GMS will post 7.26 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. State of New Jersey Common Pension Fund D increased its position in shares of GMS by 0.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 20,805 shares of the company’s stock worth $1,884,000 after acquiring an additional 113 shares in the last quarter. Summit Investment Advisors Inc. increased its position in shares of GMS by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,130 shares of the company’s stock worth $350,000 after acquiring an additional 131 shares in the last quarter. Inspire Investing LLC increased its position in shares of GMS by 2.9% in the fourth quarter. Inspire Investing LLC now owns 4,716 shares of the company’s stock worth $400,000 after acquiring an additional 134 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of GMS by 0.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 37,507 shares of the company’s stock worth $3,182,000 after acquiring an additional 148 shares in the last quarter. Finally, Vise Technologies Inc. increased its position in shares of GMS by 2.3% in the fourth quarter. Vise Technologies Inc. now owns 7,090 shares of the company’s stock worth $601,000 after acquiring an additional 162 shares in the last quarter. 95.28% of the stock is owned by hedge funds and other institutional investors.

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.