GMS (NYSE:GMS) Given New $93.00 Price Target at Barclays

GMS (NYSE:GMS) had its target price increased by Barclays from $80.00 to $93.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities research analysts also recently weighed in on GMS. Loop Capital raised their price target on shares of GMS from $85.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, November 25th. Truist Financial dropped their target price on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, August 30th. Robert W. Baird dropped their target price on shares of GMS from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday. StockNews.com cut shares of GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Finally, DA Davidson dropped their target price on shares of GMS from $97.00 to $94.00 and set a “neutral” rating on the stock in a report on Friday. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, GMS currently has an average rating of “Hold” and a consensus target price of $93.25.

GMS Price Performance

Shares of NYSE GMS opened at $97.06 on Friday. GMS has a 1 year low of $68.13 and a 1 year high of $105.54. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.31 and a quick ratio of 1.45. The company’s 50-day moving average is $95.68 and its 200 day moving average is $91.02. The stock has a market capitalization of $3.81 billion, a P/E ratio of 17.84 and a beta of 1.68.

GMS (NYSE:GMS) last announced its earnings results on Thursday, December 5th. The company reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.24). GMS had a net margin of 4.45% and a return on equity of 22.02%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the business posted $2.30 EPS. GMS’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, sell-side analysts expect that GMS will post 7.95 earnings per share for the current year.

Insider Activity at GMS

In related news, COO George T. Hendren sold 5,000 shares of GMS 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 transaction, the chief operating officer now owns 23,772 shares in the company, valued at approximately $2,427,834.36. The trade was a 17.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of GMS

Large investors have recently made changes to their positions in the business. Blue Trust Inc. grew its holdings in GMS by 86.4% during the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company’s stock valued at $30,000 after purchasing an additional 171 shares during the last quarter. Quarry LP grew its holdings in GMS by 37.1% during the 2nd quarter. Quarry LP now owns 403 shares of the company’s stock valued at $32,000 after purchasing an additional 109 shares during the last quarter. GAMMA Investing LLC boosted its position in GMS by 138.8% in the 3rd quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock valued at $56,000 after buying an additional 361 shares during the period. KBC Group NV boosted its position in GMS by 31.9% in the 3rd quarter. KBC Group NV now owns 1,162 shares of the company’s stock valued at $105,000 after buying an additional 281 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in GMS in the 2nd quarter valued at about $121,000. 95.28% of the stock is currently owned by institutional investors.

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.