GMS (NYSE:GMS) Price Target Cut to $80.00 by Analysts at Barclays

GMS (NYSE:GMSFree Report) had its target price decreased by Barclays from $93.00 to $80.00 in a report issued on Thursday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other research analysts have also issued reports on GMS. Truist Financial boosted their price target on shares of GMS from $90.00 to $97.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Robert W. Baird dropped their target price on GMS from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $86.00 price target (up from $78.00) on shares of GMS in a report on Friday, December 6th. DA Davidson decreased their price target on GMS from $97.00 to $94.00 and set a “neutral” rating on the stock in a research note on Friday, December 6th. Finally, Loop Capital increased their price objective on GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $93.57.

Check Out Our Latest Research Report on GMS

GMS Stock Down 0.9 %

GMS stock opened at $82.44 on Thursday. The stock has a 50 day moving average of $92.11 and a two-hundred day moving average of $90.39. GMS has a twelve month low of $77.29 and a twelve month high of $105.54. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 15.15 and a beta of 1.73. The company has a current ratio of 2.23, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97.

GMS (NYSE:GMSGet Free Report) last issued its quarterly earnings results on Thursday, December 5th. The company reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.24). The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. GMS had a return on equity of 20.67% and a net margin of 3.92%. GMS’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.30 earnings per share. As a group, research analysts expect that GMS will post 7.41 earnings per share for the current year.

Insider Buying and Selling at GMS

In other GMS news, COO George T. Hendren sold 5,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $102.13, for a total value of $510,650.00. Following the sale, the chief operating officer now owns 23,772 shares of the company’s stock, valued at $2,427,834.36. This represents a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. 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 buying an additional 109 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of GMS by 138.8% in the third quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock worth $56,000 after acquiring an additional 361 shares during the last quarter. KBC Group NV lifted its position in shares of GMS by 31.9% in the third quarter. KBC Group NV now owns 1,162 shares of the company’s stock valued at $105,000 after acquiring an additional 281 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of GMS during the second quarter valued at $121,000. Finally, Squarepoint Ops LLC purchased a new stake in GMS during the 2nd quarter worth about $201,000. 95.28% of the stock is owned by hedge funds and other institutional investors.

About GMS

(Get Free Report)

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.

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