GMS Inc. (NYSE:GMS) Shares Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. raised its stake in GMS Inc. (NYSE:GMS) by 108.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 44,019 shares of the company’s stock after acquiring an additional 22,887 shares during the period. Harbor Capital Advisors Inc.’s holdings in GMS were worth $3,987,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GMS. American Century Companies Inc. grew its holdings in shares of GMS by 28.5% during the second quarter. American Century Companies Inc. now owns 1,830,833 shares of the company’s stock valued at $147,583,000 after buying an additional 406,406 shares in the last quarter. Pacer Advisors Inc. grew its position in GMS by 0.4% during the second quarter. Pacer Advisors Inc. now owns 1,474,821 shares of the company’s stock valued at $118,885,000 after purchasing an additional 6,396 shares in the last quarter. Federated Hermes Inc. increased its stake in GMS by 0.9% in the 2nd quarter. Federated Hermes Inc. now owns 1,056,053 shares of the company’s stock valued at $85,128,000 after buying an additional 9,516 shares during the period. Westwood Holdings Group Inc. lifted its position in GMS by 4.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 739,908 shares of the company’s stock worth $59,644,000 after buying an additional 34,205 shares in the last quarter. Finally, LSV Asset Management grew its holdings in shares of GMS by 103.0% during the 2nd quarter. LSV Asset Management now owns 690,820 shares of the company’s stock valued at $55,687,000 after acquiring an additional 350,478 shares in the last quarter. 95.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GMS. StockNews.com cut GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Barclays dropped their price objective on GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, September 9th. Truist Financial reduced their target price on shares of GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Finally, Robert W. Baird boosted their target price on shares of GMS from $96.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $91.50.

GMS Stock Performance

NYSE:GMS opened at $90.94 on Monday. The firm has a market capitalization of $3.57 billion, a PE ratio of 15.01 and a beta of 1.68. GMS Inc. has a 1 year low of $59.86 and a 1 year high of $101.04. 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 firm’s fifty day simple moving average is $89.66 and its 200 day simple moving average is $89.91.

GMS (NYSE:GMS) last posted its quarterly earnings data on Thursday, August 29th. The company reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.21). GMS had a return on equity of 22.02% and a net margin of 4.45%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm posted $2.40 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, sell-side analysts anticipate that GMS Inc. will post 7.95 EPS for the current year.

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.