GMS (NYSE:GMS) Given New $93.00 Price Target at Loop Capital

GMS (NYSE:GMS) had its price target hoisted by research analysts at Loop Capital from $85.00 to $93.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Loop Capital’s price target would suggest a potential downside of 9.45% from the company’s current price.

GMS has been the subject of a number of other research reports. Barclays reduced their price objective on GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, September 9th. Truist Financial decreased their price objective on shares of GMS from $95.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 30th. Robert W. Baird boosted their target price on shares of GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, StockNews.com lowered shares of GMS from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, GMS currently has an average rating of “Hold” and an average target price of $92.50.

GMS Stock Up 1.0 %

GMS opened at $102.71 on Monday. GMS has a fifty-two week low of $65.46 and a fifty-two week high of $103.56. The firm has a market capitalization of $4.03 billion, a P/E ratio of 16.95 and a beta of 1.68. The company’s 50-day moving average is $93.61 and its 200 day moving average is $90.57. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.31 and a quick ratio of 1.45.

GMS (NYSE:GMS) last posted its earnings results on Thursday, August 29th. The company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.21). The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. GMS had a return on equity of 22.02% and a net margin of 4.45%. GMS’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.40 EPS. Research analysts expect that GMS will post 7.95 earnings per share for the current fiscal year.

Insider Activity at GMS

In other GMS news, COO George T. Hendren sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $102.13, for a total transaction of $510,650.00. Following the sale, the chief operating officer now owns 23,772 shares of the company’s stock, valued at $2,427,834.36. The trade was a 17.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GMS

A number of large investors have recently made changes to their positions in GMS. Quarry LP boosted its stake in GMS by 37.1% in the 2nd quarter. Quarry LP now owns 403 shares of the company’s stock worth $32,000 after purchasing an additional 109 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings 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 buying an additional 113 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of GMS by 2.0% in the second quarter. QRG Capital Management Inc. now owns 8,231 shares of the company’s stock valued at $664,000 after acquiring an additional 161 shares during the period. SummerHaven Investment Management LLC grew its stake in GMS by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 10,509 shares of the company’s stock valued at $847,000 after acquiring an additional 162 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in GMS by 86.4% during the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company’s stock worth $30,000 after acquiring an additional 171 shares during the period. 95.28% of the stock is owned by institutional investors.

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.