GMS (NYSE:GMS) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of GMS (NYSE:GMS) from a buy rating to a strong-buy rating in a report released on Wednesday morning.

Other research analysts also recently issued research reports about the stock. Barclays upped their price objective on shares of GMS from $75.00 to $93.00 and gave the stock an equal weight rating in a research report on Tuesday, March 5th. Royal Bank of Canada upped their price target on GMS from $84.00 to $92.00 and gave the stock a sector perform rating in a report on Friday, March 1st. Stephens raised their price objective on GMS from $87.00 to $98.00 and gave the company an overweight rating in a report on Friday, January 26th. Truist Financial boosted their price objective on GMS from $72.00 to $88.00 and gave the company a hold rating in a research report on Friday, March 1st. Finally, Robert W. Baird increased their target price on GMS from $92.00 to $105.00 and gave the company an outperform rating in a research report on Friday, March 1st. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, GMS presently has an average rating of Moderate Buy and a consensus price target of $89.63.

GMS Stock Up 0.0 %

GMS stock opened at $92.89 on Wednesday. GMS has a 52 week low of $54.99 and a 52 week high of $101.04. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 13.01 and a beta of 1.73. The business’s 50-day moving average price is $93.33 and its 200 day moving average price is $80.49. The company has a quick ratio of 1.47, a current ratio of 2.40 and a debt-to-equity ratio of 0.69.

GMS (NYSE:GMS) last posted its earnings results on Thursday, February 29th. The company reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.01). GMS had a net margin of 5.48% and a return on equity of 25.65%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period last year, the firm earned $1.85 earnings per share. GMS’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that GMS will post 8.36 earnings per share for the current year.

Insider Activity

In related news, CEO John C. Turner, Jr. sold 6,266 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $97.58, for a total value of $611,436.28. Following the completion of the transaction, the chief executive officer now directly owns 48,074 shares of the company’s stock, valued at approximately $4,691,060.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO John C. Turner, Jr. sold 6,266 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $97.58, for a total transaction of $611,436.28. Following the transaction, the chief executive officer now directly owns 48,074 shares in the company, valued at $4,691,060.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO George T. Hendren sold 10,554 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $96.49, for a total transaction of $1,018,355.46. Following the completion of the sale, the chief operating officer now owns 23,261 shares of the company’s stock, valued at approximately $2,244,453.89. The disclosure for this sale can be found here. Insiders have sold a total of 36,820 shares of company stock worth $3,561,192 over the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GMS

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC increased its stake in shares of GMS by 1.3% in the 4th quarter. SummerHaven Investment Management LLC now owns 10,231 shares of the company’s stock worth $843,000 after acquiring an additional 136 shares during the last quarter. Strs Ohio raised its stake in GMS by 1.3% during the third quarter. Strs Ohio now owns 16,200 shares of the company’s stock worth $1,036,000 after purchasing an additional 200 shares during the period. Blue Trust Inc. raised its stake in GMS by 131.1% during the fourth quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $31,000 after purchasing an additional 211 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in GMS by 5.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 4,683 shares of the company’s stock valued at $300,000 after purchasing an additional 232 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of GMS by 1.4% in the 3rd quarter. Jennison Associates LLC now owns 16,812 shares of the company’s stock valued at $1,075,000 after buying an additional 237 shares during the period. Institutional investors and hedge funds own 95.28% of the company’s stock.

About GMS

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.