GMS (NYSE:GMS) Reaches New 52-Week High – Here’s What Happened

GMS Inc. (NYSE:GMS) shares reached a new 52-week high during trading on Monday . The company traded as high as $101.96 and last traded at $101.75, with a volume of 2925 shares changing hands. The stock had previously closed at $99.98.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GMS. Barclays cut their target price on GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, September 9th. StockNews.com cut shares of GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Truist Financial dropped their price target on shares of GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, August 30th. Finally, Robert W. Baird increased their price objective 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $91.50.

GMS Stock Down 1.7 %

The firm has a market cap of $3.98 billion, a PE ratio of 16.74 and a beta of 1.68. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. The business has a 50-day moving average price of $90.99 and a two-hundred day moving average price of $90.24.

GMS (NYSE:GMS) last issued its quarterly earnings results on Thursday, August 29th. The company reported $1.93 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.21). GMS had a return on equity of 22.02% and a net margin of 4.45%. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the company earned $2.40 EPS. GMS’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities research analysts expect that GMS Inc. will post 7.95 EPS for the current year.

Insider Buying and Selling at GMS

In related news, COO George T. Hendren sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $102.13, for a total transaction of $510,650.00. Following the completion of the transaction, the chief operating officer now owns 23,772 shares in the company, valued at approximately $2,427,834.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On GMS

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP boosted its holdings in shares of GMS by 49.3% in the 1st quarter. Quantbot Technologies LP now owns 5,341 shares of the company’s stock valued at $520,000 after buying an additional 1,764 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of GMS by 62.9% in the first quarter. SG Americas Securities LLC now owns 4,034 shares of the company’s stock valued at $393,000 after buying an additional 1,557 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of GMS by 2.0% during the first quarter. QRG Capital Management Inc. now owns 8,070 shares of the company’s stock worth $786,000 after buying an additional 160 shares during the period. ProShare Advisors LLC grew its holdings in shares of GMS by 4.9% during the first quarter. ProShare Advisors LLC now owns 8,075 shares of the company’s stock worth $786,000 after buying an additional 377 shares during the last quarter. Finally, Covestor Ltd increased its position in GMS by 103.3% in the 1st quarter. Covestor Ltd now owns 2,915 shares of the company’s stock valued at $284,000 after acquiring an additional 1,481 shares during the period. 95.28% of the stock is owned by institutional investors and hedge funds.

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.