ValuEngine downgraded shares of GMS (NYSE:GMS) from a sell rating to a strong sell rating in a research note released on Thursday morning.
Other equities analysts also recently issued research reports about the company. Nomura boosted their price target on GMS from $36.00 to $37.00 and gave the stock a buy rating in a research report on Friday, August 31st. Raymond James boosted their price target on GMS from $31.00 to $33.00 and gave the stock a buy rating in a research report on Friday, August 31st. Barclays began coverage on GMS in a research report on Friday, June 29th. They set an overweight rating and a $30.00 price target on the stock. Robert W. Baird downgraded GMS from an outperform rating to a neutral rating and set a $36.00 price target on the stock. in a research report on Tuesday, July 3rd. Finally, Zacks Investment Research downgraded GMS from a buy rating to a hold rating in a research report on Monday, September 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $36.55.
Shares of NYSE GMS opened at $21.31 on Thursday. The company has a market cap of $954.42 million, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 1.01 and a beta of 1.26. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.93 and a current ratio of 3.08. GMS has a twelve month low of $20.76 and a twelve month high of $39.98.
GMS (NYSE:GMS) last announced its quarterly earnings results on Thursday, August 30th. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.09. The firm had revenue of $778.10 million for the quarter, compared to the consensus estimate of $768.61 million. GMS had a return on equity of 15.18% and a net margin of 2.13%. The business’s revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 earnings per share. On average, analysts anticipate that GMS will post 3.28 earnings per share for the current fiscal year.
In related news, insider Lynn Ross purchased 2,061 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was acquired at an average cost of $24.26 per share, for a total transaction of $49,999.86. Following the completion of the purchase, the insider now owns 2,061 shares in the company, valued at approximately $49,999.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Richard Alan Adams purchased 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The stock was bought at an average price of $24.14 per share, with a total value of $72,420.00. Following the completion of the purchase, the vice president now owns 175,000 shares of the company’s stock, valued at approximately $4,224,500. The disclosure for this purchase can be found here. Insiders bought 9,211 shares of company stock worth $222,559 in the last ninety days. 4.90% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC lifted its stake in GMS by 67.8% during the first quarter. SG Americas Securities LLC now owns 5,745 shares of the company’s stock worth $176,000 after purchasing an additional 2,322 shares during the last quarter. Raymond James & Associates bought a new position in shares of GMS in the 2nd quarter valued at $216,000. Xact Kapitalforvaltning AB bought a new position in shares of GMS in the 1st quarter valued at $233,000. Victory Capital Management Inc. lifted its stake in shares of GMS by 54.2% in the 1st quarter. Victory Capital Management Inc. now owns 8,688 shares of the company’s stock valued at $266,000 after acquiring an additional 3,055 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of GMS by 79.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,764 shares of the company’s stock valued at $298,000 after acquiring an additional 4,313 shares during the last quarter. Institutional investors and hedge funds own 75.72% of the company’s stock.
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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