GMS (NYSE:GMS) Given New $110.00 Price Target at Barclays

GMS (NYSE:GMS - Get Free Report) had its price objective lifted by Barclays from $95.00 to $110.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's target price would suggest a potential upside of 0.27% from the company's current price.

Several other research analysts have also recently commented on GMS. Loop Capital boosted their target price on GMS from $95.00 to $110.00 and gave the stock a "hold" rating in a research note on Tuesday. DA Davidson boosted their target price on shares of GMS from $95.20 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday. Robert W. Baird restated a "neutral" rating and issued a $95.00 price target (up from $93.00) on shares of GMS in a research note on Monday, June 23rd. Baird R W downgraded GMS from a "strong-buy" rating to a "hold" rating in a report on Monday, June 23rd. Finally, Truist Financial increased their price target on shares of GMS from $105.00 to $110.00 and gave the company a "hold" rating in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $101.11.

GMS Trading Up 0.6%

Shares of NYSE:GMS traded up $0.64 during mid-day trading on Tuesday, reaching $109.70. 2,775,791 shares of the company were exchanged, compared to its average volume of 523,621. GMS has a 1 year low of $65.77 and a 1 year high of $110.01. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.91 and a quick ratio of 1.17. The firm's 50-day simple moving average is $81.23 and its 200 day simple moving average is $79.68. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 37.96 and a beta of 1.71.

GMS (NYSE:GMS - Get Free Report) last announced its earnings results on Wednesday, June 18th. The company reported $1.29 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.18. GMS had a return on equity of 16.97% and a net margin of 2.09%. The company had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.30 billion. During the same period last year, the business posted $1.93 EPS. GMS's revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts forecast that GMS will post 7.26 EPS for the current year.

Insiders Place Their Bets

In other news, COO George T. Hendren sold 5,000 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $108.23, for a total value of $541,150.00. Following the completion of the sale, the chief operating officer directly owned 23,950 shares in the company, valued at approximately $2,592,108.50. The trade was a 17.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John C. Turner, Jr. bought 3,650 shares of the business's stock in a transaction on Monday, April 7th. The stock was bought at an average price of $70.00 per share, for a total transaction of $255,500.00. Following the completion of the purchase, the chief executive officer directly owned 66,928 shares of the company's stock, valued at $4,684,960. The trade was a 5.77% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On GMS

Several hedge funds have recently modified their holdings of the company. AlphaQuest LLC boosted its holdings in shares of GMS by 1,710.5% during the fourth quarter. AlphaQuest LLC now owns 344 shares of the company's stock worth $29,000 after purchasing an additional 325 shares during the period. Canada Pension Plan Investment Board acquired a new position in GMS in the 4th quarter valued at approximately $34,000. Eukles Asset Management purchased a new stake in GMS in the 1st quarter worth approximately $33,000. Brooklyn Investment Group acquired a new stake in shares of GMS during the 1st quarter valued at $47,000. Finally, Versant Capital Management Inc boosted its stake in shares of GMS by 170.5% during the 1st quarter. Versant Capital Management Inc now owns 706 shares of the company's stock valued at $52,000 after buying an additional 445 shares during the period. 95.28% of the stock is currently owned by institutional investors and hedge funds.

GMS Company Profile

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.