Loop Capital Cuts GMS (NYSE:GMS) Price Target to $80.00

GMS (NYSE:GMS) had its price target trimmed by Loop Capital from $93.00 to $80.00 in a research report released on Monday,Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Royal Bank of Canada decreased their price objective on GMS from $82.00 to $65.00 and set a “sector perform” rating for the company in a research note on Friday, March 7th. Robert W. Baird decreased their price target on GMS from $110.00 to $93.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. UBS Group set a $80.00 price target on GMS in a research note on Friday, March 7th. DA Davidson decreased their price target on GMS from $94.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Finally, Barclays decreased their price target on GMS from $80.00 to $71.00 and set an “equal weight” rating for the company in a research note on Monday. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $80.50.

GMS Price Performance

GMS opened at $70.50 on Monday. GMS has a 12-month low of $65.88 and a 12-month high of $105.54. The company has a current ratio of 2.23, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The business’s fifty day simple moving average is $81.51 and its 200-day simple moving average is $88.42. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 12.96 and a beta of 1.73.

GMS (NYSE:GMS) last posted its quarterly earnings results on Thursday, March 6th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.47). The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.29 billion. GMS had a return on equity of 20.67% and a net margin of 3.92%. On average, equities research analysts anticipate that GMS will post 7.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GMS. Janney Montgomery Scott LLC raised its stake in shares of GMS by 1.8% in the third quarter. Janney Montgomery Scott LLC now owns 24,797 shares of the company’s stock worth $2,246,000 after purchasing an additional 428 shares during the last quarter. Meritage Portfolio Management raised its stake in shares of GMS by 11.5% in the third quarter. Meritage Portfolio Management now owns 4,747 shares of the company’s stock worth $430,000 after purchasing an additional 490 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of GMS by 0.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 20,805 shares of the company’s stock worth $1,884,000 after purchasing an additional 113 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of GMS in the third quarter worth about $245,000. Finally, Victory Capital Management Inc. grew its holdings in GMS by 6.4% during the third quarter. Victory Capital Management Inc. now owns 101,541 shares of the company’s stock worth $9,197,000 after acquiring an additional 6,136 shares during the period. 95.28% of the stock is currently owned by hedge funds and other 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.