Barclays Increases GMS (NYSE:GMS) Price Target to $95.00

GMS (NYSE:GMS - Get Free Report) had its price objective increased by research analysts at Barclays from $71.00 to $95.00 in a report issued on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's price objective would indicate a potential downside of 8.97% from the company's current price.

A number of other research firms have also recently commented on GMS. DA Davidson lowered their price target 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 shares of GMS in a research report on Friday, March 7th. Robert W. Baird set a $93.00 target price on shares of GMS in a research report on Tuesday. Loop Capital cut their target price on shares of GMS from $93.00 to $80.00 and set a "hold" rating for the company in a research note on Monday, March 10th. Finally, Truist Financial set a $80.00 price target on shares of GMS in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $87.28.

GMS Price Performance

Shares of GMS traded up $23.35 during trading hours on Friday, reaching $104.36. 1,836,291 shares of the stock traded hands, compared to its average volume of 432,765. The company has a market cap of $4.01 billion, a P/E ratio of 36.21 and a beta of 1.62. The company has a current ratio of 1.91, a quick ratio of 1.38 and a debt-to-equity ratio of 0.85. The company's 50-day moving average price is $74.89 and its two-hundred day moving average price is $79.19. GMS has a 52-week low of $65.77 and a 52-week high of $106.47.

GMS (NYSE:GMS - Get Free Report) last posted its quarterly 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. The business had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.30 billion. GMS had a return on equity of 15.29% and a net margin of 2.09%. The business's quarterly revenue was down 5.6% on a year-over-year basis. During the same period last year, the firm earned $1.93 earnings per share. On average, analysts anticipate that GMS will post 7.26 earnings per share for the current year.

Insider Activity at GMS

In related news, CEO John C. Turner, Jr. purchased 3,650 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were bought at an average price of $70.00 per share, for a total transaction of $255,500.00. Following the acquisition, the chief executive officer now owns 66,928 shares of the company's stock, valued at approximately $4,684,960. This represents a 5.77% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Theron I. Gilliam sold 12,474 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total value of $916,340.04. Following the completion of the sale, the director now owns 31,507 shares of the company's stock, valued at approximately $2,314,504.22. This represents a 28.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. AlphaQuest LLC lifted its holdings in shares of GMS by 1,710.5% in the 4th quarter. AlphaQuest LLC now owns 344 shares of the company's stock worth $29,000 after acquiring an additional 325 shares during the last quarter. Eukles Asset Management purchased a new stake in GMS in the 1st quarter worth about $33,000. Canada Pension Plan Investment Board bought a new stake in GMS in the fourth quarter worth about $34,000. Brooklyn Investment Group purchased a new position in shares of GMS during the first quarter valued at approximately $47,000. Finally, Versant Capital Management Inc grew its stake in shares of GMS by 170.5% during the first 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 last quarter. Institutional investors own 95.28% of the company's stock.

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.

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