GMR Solutions (NYSE:GMRS) Given New $15.00 Price Target at Citigroup

Key Points

• Citigroup lowered its price target on GMR Solutions from $17 to $15 but maintained a Buy rating; the new target implies 26.69% upside from the prior close.
• GMR shares rose 7.7% to $11.84 on Wednesday. The company reported quarterly EPS of $0.64, beating the $0.47 analyst consensus, on revenue of $1.60 billion.
• Analyst sentiment is broadly positive, with MarketBeat reporting a Moderate Buy consensus and an average price target of $18.56. Company insiders sold shares recently, with the sales described as covering tax withholding on vested equity awards.

GMR Solutions (NYSE:GMRS - Get Free Report) had its price objective lowered by equities research analysts at Citigroup from $17.00 to $15.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's target price suggests a potential upside of 26.69% from the stock's previous close.

GMRS has been the topic of several other reports. The Goldman Sachs Group set a $30.00 price target on GMR Solutions in a report on Tuesday, August 18th. Weiss Ratings started coverage on GMR Solutions in a report on Friday, August 14th. They set a "sell (d)" rating for the company. Finally, JPMorgan Chase & Co. boosted their price objective on GMR Solutions from $15.00 to $16.00 and gave the company an "overweight" rating in a report on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, GMR Solutions currently has an average rating of "Moderate Buy" and an average target price of $18.56.

GMR Solutions Stock Up 7.7%

NYSE:GMRS traded up $0.85 during mid-day trading on Wednesday, hitting $11.84. 1,181,542 shares of the stock traded hands, compared to its average volume of 906,538. The stock has a market cap of $639.62 million and a PE ratio of -7.59. GMR Solutions has a 52 week low of $8.99 and a 52 week high of $15.98. The stock has a 50 day moving average price of $11.33. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 5.50.

GMR Solutions (NYSE:GMRS - Get Free Report) last posted its quarterly earnings data on Monday, November 9th. The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.17. The firm had revenue of $1.60 billion during the quarter. As a group, research analysts predict that GMR Solutions will post 1.68 EPS for the current year.

Insider Buying and Selling

In related news, CEO Nicola Loporcaro sold 1,457,102 shares of GMR Solutions stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $12.20, for a total transaction of $17,776,644.40. Following the completion of the sale, the chief executive officer owned 2,855,580 shares in the company, valued at $34,838,076. This trade represents a 33.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Horne Edward Van sold 262,278 shares of the business's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $12.20, for a total transaction of $3,199,791.60. Following the completion of the sale, the chief operating officer directly owned 575,004 shares of the company's stock, valued at approximately $7,015,048.80. This trade represents a 31.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 2,353,423 shares of company stock worth $28,711,761 over the last ninety days.

Institutional Trading of GMR Solutions

A number of large investors have recently modified their holdings of GMRS. Citadel Advisors LLC purchased a new position in GMR Solutions during the 2nd quarter worth $49,284,000. Alyeska Investment Group L.P. bought a new position in shares of GMR Solutions during the 2nd quarter worth $36,817,000. Readystate Asset Management LP bought a new position in shares of GMR Solutions during the 2nd quarter worth $12,936,000. Steamboat Capital Partners LLC bought a new position in shares of GMR Solutions during the 2nd quarter worth $9,184,000. Finally, HBK Investments L P purchased a new position in shares of GMR Solutions during the second quarter valued at $3,092,000.

About GMR Solutions

GMR Solutions Inc. is a provider of emergency medical services delivering EMS and other essential out-of-hospital care in rural and urban communities. GMR Solutions Inc. is based in Lewisville, Texas.

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