GMS (NYSE:GMS) Reaches New 1-Year Low – What’s Next?

GMS Inc. (NYSE:GMS) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $70.00 and last traded at $83.85, with a volume of 196 shares. The stock had previously closed at $83.85.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GMS. DA Davidson reduced their target price on GMS from $97.00 to $94.00 and set a “neutral” rating for the company in a report on Friday, December 6th. Loop Capital boosted their price objective on shares of GMS from $85.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, November 25th. Barclays lowered their target price on shares of GMS from $93.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Truist Financial boosted their price target on shares of GMS from $90.00 to $97.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $86.00 price objective (up previously from $78.00) on shares of GMS in a research report on Friday, December 6th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $93.57.

GMS Trading Down 0.3 %

The stock has a 50 day moving average of $85.35 and a 200 day moving average of $90.05. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.23 and a quick ratio of 1.44. The firm has a market cap of $3.23 billion, a P/E ratio of 15.30 and a beta of 1.72.

GMS (NYSE:GMS) last announced its quarterly earnings data on Thursday, December 5th. The company reported $2.02 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.24). The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. GMS had a net margin of 3.92% and a return on equity of 20.67%. GMS’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.30 earnings per share. As a group, equities research analysts predict that GMS Inc. will post 7.26 EPS for the current year.

Institutional Investors Weigh In On GMS

A number of hedge funds have recently made changes to their positions in GMS. Creative Planning lifted its stake in GMS by 21.3% in the third quarter. Creative Planning now owns 6,939 shares of the company’s stock worth $628,000 after purchasing an additional 1,218 shares during the last quarter. ZWJ Investment Counsel Inc. purchased a new position in shares of GMS in the third quarter worth about $219,000. Jade Capital Advisors LLC bought a new stake in shares of GMS in the 3rd quarter valued at about $906,000. Assenagon Asset Management S.A. boosted its holdings in GMS by 412.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 77,181 shares of the company’s stock valued at $6,990,000 after acquiring an additional 62,120 shares during the period. Finally, GHP Investment Advisors Inc. grew its position in GMS by 1.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 44,825 shares of the company’s stock worth $4,060,000 after acquiring an additional 732 shares during the last quarter. 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.