GMS (NYSE:GMS) Reaches New 12-Month Low – Here’s Why

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GMS. Truist Financial upped their target price on GMS from $90.00 to $97.00 and gave the company a “hold” rating in a report on Monday, December 9th. Loop Capital raised their target price on shares of GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, November 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $86.00 target price (up previously from $78.00) on shares of GMS in a research note on Friday, December 6th. DA Davidson decreased their price target on shares of GMS from $97.00 to $94.00 and set a “neutral” rating for the company in a research note on Friday, December 6th. Finally, Barclays cut their price objective on GMS from $93.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $93.57.

GMS Trading Down 0.3 %

The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. The firm has a market cap of $3.23 billion, a PE ratio of 15.30 and a beta of 1.72. The stock’s fifty day simple moving average is $85.35 and its two-hundred day simple moving average is $90.05.

GMS (NYSE:GMS) last posted its quarterly earnings results on Thursday, December 5th. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.24). GMS had a return on equity of 20.67% and a net margin of 3.92%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the firm earned $2.30 EPS. GMS’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, sell-side analysts forecast that GMS Inc. will post 7.26 EPS for the current fiscal year.

Institutional Investors Weigh In On GMS

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC increased its holdings in shares of GMS by 38.7% in the 4th quarter. FMR LLC now owns 5,868,782 shares of the company’s stock worth $497,849,000 after purchasing an additional 1,636,612 shares in the last quarter. Pacer Advisors Inc. bought a new stake in GMS in the 4th quarter worth about $109,277,000. Charles Schwab Investment Management Inc. raised its position in GMS by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 609,715 shares of the company’s stock worth $51,722,000 after buying an additional 15,664 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. lifted its stake in GMS by 3.4% during the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 596,444 shares of the company’s stock valued at $50,596,000 after acquiring an additional 19,833 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of GMS by 13.9% during the 4th quarter. Northern Trust Corp now owns 580,130 shares of the company’s stock valued at $49,212,000 after acquiring an additional 70,927 shares during the last quarter. Institutional investors 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.