GMS (NYSE:GMS) Downgraded by Baird R W to Hold

Baird R W lowered shares of GMS (NYSE:GMS - Free Report) from a strong-buy rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

A number of other research firms have also recently issued reports on GMS. Barclays boosted their price objective on GMS from $71.00 to $95.00 and gave the company an "equal weight" rating in a report on Friday, June 20th. Truist Financial boosted their target price on shares of GMS from $80.00 to $105.00 and gave the company a "hold" rating in a research note on Friday, June 20th. Raymond James Financial upped their price target on shares of GMS from $80.00 to $90.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. UBS Group set a $80.00 price objective on shares of GMS in a report on Friday, March 7th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $95.00 price objective (up from $93.00) on shares of GMS in a research report on Monday. Eight research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $90.58.

GMS Trading Down 0.9%

Shares of GMS stock traded down $0.90 during trading hours on Monday, reaching $98.79. 896,872 shares of the stock were exchanged, compared to its average volume of 445,191. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 34.18 and a beta of 1.62. GMS has a 12-month low of $65.77 and a 12-month high of $105.54. The company's 50-day moving average price is $76.55 and its 200-day moving average price is $79.05. The company has a current ratio of 1.91, a quick ratio of 1.17 and a debt-to-equity ratio of 0.85.

GMS (NYSE:GMS - Get Free Report) last announced its earnings results on Wednesday, June 18th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.18. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.30 billion. GMS had a return on equity of 16.97% and a net margin of 2.09%. The company's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.93 earnings per share. As a group, equities analysts anticipate that GMS will post 7.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO John C. Turner, Jr. bought 3,650 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were purchased at an average cost of $70.00 per share, with a total value of $255,500.00. Following the transaction, the chief executive officer now directly owns 66,928 shares in the company, valued at approximately $4,684,960. The trade was a 5.77% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Theron I. Gilliam sold 12,474 shares of GMS stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total value of $916,340.04. Following the sale, the director now directly owns 31,507 shares of the company's stock, valued at approximately $2,314,504.22. This represents a 28.36% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On GMS

Institutional investors and hedge funds have recently modified their holdings of the company. AlphaQuest LLC increased its holdings in GMS by 1,710.5% in the 4th quarter. AlphaQuest LLC now owns 344 shares of the company's stock worth $29,000 after buying an additional 325 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of GMS in the 4th quarter valued at $34,000. Eukles Asset Management purchased a new stake in shares of GMS in the 1st quarter valued at $33,000. Brooklyn Investment Group acquired a new stake in shares of GMS in the first quarter worth $47,000. Finally, Versant Capital Management Inc raised its holdings in shares of GMS by 170.5% during the first quarter. Versant Capital Management Inc now owns 706 shares of the company's stock worth $52,000 after purchasing an additional 445 shares during the last quarter. 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.