GMR Solutions Inc. (NYSE:GMRS) Stock Has Average Price Target of $18.78 According to Brokerages

Shares of GMR Solutions Inc. (NYSE:GMRS) have earned an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $18.78.

GMRS has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on GMR Solutions from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday, September 11th. Weiss Ratings assumed coverage on GMR Solutions in a research note on Friday, August 14th. They set a “sell (d)” rating on the stock. Finally, The Goldman Sachs Group set a $30.00 price target on GMR Solutions in a report on Tuesday, August 18th.

GMR Solutions Stock Performance

Shares of GMRS opened at $12.28 on Thursday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 5.50. GMR Solutions has a 52 week low of $8.99 and a 52 week high of $15.98. The company has a market cap of $663.37 million and a PE ratio of -7.87. The firm has a fifty day moving average price of $11.39.

GMR Solutions (NYSE:GMRS) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($1.84) earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($2.22). The company had revenue of $1.49 billion during the quarter. The company’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities analysts forecast that GMR Solutions will post 1.68 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Thomas A. A. Cook sold 251,882 shares of GMR Solutions stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $12.20, for a total transaction of $3,072,960.40. Following the sale, the executive vice president directly owned 675,686 shares in the company, valued at $8,243,369.20. This trade represents a 27.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Horne Edward Van sold 262,278 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $12.20, for a total transaction of $3,199,791.60. Following the sale, the chief operating officer directly owned 575,004 shares in the company, valued at $7,015,048.80. The trade was a 31.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 2,353,423 shares of company stock worth $28,711,761 over the last quarter.

Hedge Funds Weigh In On GMR Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC bought a new position in shares of GMR Solutions during the second quarter valued at $49,284,000. Alyeska Investment Group L.P. acquired a new position in shares of GMR Solutions during the second quarter worth $36,817,000. Readystate Asset Management LP acquired a new position in shares of GMR Solutions during the second quarter worth $12,936,000. Steamboat Capital Partners LLC acquired a new position in shares of GMR Solutions during the second quarter worth $9,184,000. Finally, HBK Investments L P bought a new stake in shares of GMR Solutions in the second quarter worth $3,092,000.

GMR Solutions Company Profile

GMR Solutions Inc is a provider of emergency medical services delivering EMS and other essential out-of-hospital care in rural and urban communities. GMR Solutions Inc is based in Lewisville, Texas.