Loop Capital Lowers GMS (NYSE:GMS) Price Target to $80.00

GMS (NYSE:GMS) had its price objective lowered by research analysts at Loop Capital from $93.00 to $80.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Loop Capital’s price target would indicate a potential upside of 10.19% from the company’s previous close.

Several other analysts have also issued reports on GMS. UBS Group set a $80.00 price target on shares of GMS in a research report on Friday. Royal Bank of Canada dropped their target price on GMS from $82.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Friday. Barclays reduced their price target on GMS from $80.00 to $71.00 and set an “equal weight” rating for the company in a research report on Monday. DA Davidson cut their target price on GMS from $94.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Truist Financial cut their price objective on shares of GMS from $97.00 to $80.00 and set a “hold” rating for the company in a research report on Friday. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $80.50.

GMS Stock Performance

Shares of GMS stock traded down $1.42 on Monday, reaching $72.60. 344,128 shares of the company traded hands, compared to its average volume of 394,113. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.23 and a quick ratio of 1.44. The firm has a market capitalization of $2.82 billion, a PE ratio of 13.36 and a beta of 1.73. The company has a 50 day moving average of $82.32 and a 200 day moving average of $88.85. GMS has a 52 week low of $65.88 and a 52 week high of $105.54.

GMS (NYSE:GMS) last issued its earnings results on Thursday, March 6th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.47). The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.29 billion. GMS had a net margin of 3.92% and a return on equity of 20.67%. Equities analysts forecast that GMS will post 7.26 earnings per share for the current year.

Hedge Funds Weigh In On GMS

Hedge funds have recently modified their holdings of the company. FMR LLC raised its position in GMS by 38.7% during the 4th quarter. FMR LLC now owns 5,868,782 shares of the company’s stock valued at $497,849,000 after purchasing an additional 1,636,612 shares during the last quarter. Coliseum Capital Management LLC increased its stake in shares of GMS by 135.0% during the fourth quarter. Coliseum Capital Management LLC now owns 1,889,489 shares of the company’s stock valued at $160,285,000 after buying an additional 1,085,551 shares during the period. Pacer Advisors Inc. bought a new position in shares of GMS during the fourth quarter valued at approximately $109,277,000. Charles Schwab Investment Management Inc. lifted its stake in GMS by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 609,715 shares of the company’s stock worth $51,722,000 after acquiring an additional 15,664 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. boosted its holdings in GMS by 3.4% in the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 596,444 shares of the company’s stock valued at $50,596,000 after acquiring an additional 19,833 shares in the last quarter. Hedge funds and other institutional investors own 95.28% of the company’s stock.

GMS Company Profile

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.