Loop Capital Issues Pessimistic Forecast for GMS (NYSE:GMS) Stock Price

GMS (NYSE:GMS) had its target price decreased by Loop Capital from $93.00 to $80.00 in a research note issued to investors on Monday,Benzinga reports. Loop Capital currently has a hold rating on the stock.

Other analysts have also issued reports about the company. Truist Financial dropped their price objective on GMS from $97.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, March 7th. DA Davidson dropped their price objective on GMS from $94.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. UBS Group set a $80.00 price objective on GMS in a report on Friday, March 7th. Royal Bank of Canada dropped their price objective on GMS from $82.00 to $65.00 and set a “sector perform” rating on the stock in a report on Friday, March 7th. Finally, Robert W. Baird dropped their price objective on GMS from $110.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, GMS currently has a consensus rating of “Hold” and a consensus price target of $80.50.

GMS Stock Down 0.2 %

GMS stock opened at $70.50 on Monday. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 12.96 and a beta of 1.73. GMS has a 52 week low of $65.88 and a 52 week high of $105.54. The business’s 50-day moving average price is $81.51 and its 200 day moving average price is $88.42. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97.

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

Hedge Funds Weigh In On GMS

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC lifted its position in shares of GMS by 38.7% in the fourth quarter. FMR LLC now owns 5,868,782 shares of the company’s stock valued at $497,849,000 after acquiring an additional 1,636,612 shares in the last quarter. Coliseum Capital Management LLC lifted its position in GMS by 135.0% during the fourth quarter. Coliseum Capital Management LLC now owns 1,889,489 shares of the company’s stock worth $160,285,000 after buying an additional 1,085,551 shares in the last quarter. Pacer Advisors Inc. purchased a new position in GMS during the fourth quarter worth approximately $109,277,000. Charles Schwab Investment Management Inc. lifted its position in GMS by 2.6% during the fourth 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 in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. lifted its position in GMS by 3.4% during the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 596,444 shares of the company’s stock worth $50,596,000 after buying an additional 19,833 shares in the last quarter. Hedge funds and other 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.