GMS’s (GMS) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

GMS (NYSE:GMS)‘s stock had its “sector perform” rating restated by analysts at Royal Bank of Canada in a report released on Friday,Benzinga reports. They presently have a $86.00 price target on the stock, up from their prior price target of $78.00. Royal Bank of Canada’s price target would indicate a potential downside of 10.84% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Loop Capital increased their price target on GMS from $85.00 to $93.00 and gave the company a “hold” rating in a report on Monday, November 25th. Barclays reduced their target price on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, September 9th. Robert W. Baird reduced their price target on GMS from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Friday. Truist Financial reduced their target price on GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Finally, DA Davidson lowered shares of GMS from a “buy” rating to a “neutral” rating and set a $97.00 price target for the company. in a research note on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $92.00.

GMS Price Performance

Shares of GMS stock traded down $1.30 during mid-day trading on Friday, reaching $96.46. The stock had a trading volume of 22,739 shares, compared to its average volume of 381,343. GMS has a 12-month low of $68.13 and a 12-month high of $105.54. The company has a current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90. The business has a 50-day simple moving average of $95.56 and a 200 day simple moving average of $91.00. The company has a market cap of $3.79 billion, a P/E ratio of 15.92 and a beta of 1.68.

GMS (NYSE:GMS) last issued its quarterly earnings data on Thursday, December 5th. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.24). GMS had a return on equity of 22.02% and a net margin of 4.45%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the firm earned $2.30 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, sell-side analysts anticipate that GMS will post 7.95 earnings per share for the current year.

Insiders Place Their Bets

In other GMS news, COO George T. Hendren sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $102.13, for a total transaction of $510,650.00. Following the transaction, the chief operating officer now owns 23,772 shares of the company’s stock, valued at approximately $2,427,834.36. This trade represents a 17.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. QRG Capital Management Inc. grew its stake in GMS by 2.0% during the 2nd quarter. QRG Capital Management Inc. now owns 8,231 shares of the company’s stock valued at $664,000 after acquiring an additional 161 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of GMS by 27.8% in the second quarter. SG Americas Securities LLC now owns 5,154 shares of the company’s stock worth $415,000 after acquiring an additional 1,120 shares during the last quarter. Reinhart Partners LLC. grew its stake in GMS by 1.7% in the second quarter. Reinhart Partners LLC. now owns 495,764 shares of the company’s stock valued at $39,964,000 after purchasing an additional 8,215 shares in the last quarter. Blue Trust Inc. increased its position in GMS by 86.4% in the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company’s stock worth $30,000 after purchasing an additional 171 shares during the last quarter. Finally, Summit Global Investments lifted its holdings in shares of GMS by 2.0% during the 2nd quarter. Summit Global Investments now owns 14,712 shares of the company’s stock valued at $1,186,000 after buying an additional 288 shares during the last quarter. Institutional investors own 95.28% of the company’s stock.

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.