DA Davidson Forecasts Strong Price Appreciation for GMS (NYSE:GMS) Stock

GMS (NYSE:GMS - Free Report) had its price target boosted by DA Davidson from $95.20 to $110.00 in a research report report published on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

GMS has been the subject of several other reports. Stephens cut GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 target price for the company. in a research note on Friday, June 27th. Barclays upped their target price on shares of GMS from $71.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Friday, June 20th. Robert W. Baird reiterated a "neutral" rating and issued a $95.00 price target (up previously from $93.00) on shares of GMS in a research note on Monday, June 23rd. Raymond James Financial cut shares of GMS from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 25th. Finally, Loop Capital raised their price objective on shares of GMS from $95.00 to $110.00 and gave the company a "hold" rating in a report on Tuesday. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat.com, GMS currently has an average rating of "Hold" and an average price target of $101.11.

GMS Stock Up 0.3%

Shares of GMS traded up $0.37 during mid-day trading on Tuesday, hitting $109.13. 6,116,567 shares of the company's stock were exchanged, compared to its average volume of 513,391. The stock's 50-day moving average is $80.51 and its 200-day moving average is $79.55. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.17 and a current ratio of 1.91. GMS has a fifty-two week low of $65.77 and a fifty-two week high of $109.38. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 37.76 and a beta of 1.71.

GMS (NYSE:GMS - Get Free Report) last released its earnings results on Wednesday, June 18th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.18. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.30 billion. GMS had a net margin of 2.09% and a return on equity of 16.97%. The firm's quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.93 EPS. On average, sell-side analysts anticipate that GMS will post 7.26 earnings per share for the current fiscal year.

Insider Activity at GMS

In related news, COO George T. Hendren sold 5,000 shares of the business's stock in a transaction on Monday, June 30th. The shares were 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 of the company's stock, valued at $2,592,108.50. The trade was a 17.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John C. Turner, Jr. acquired 3,650 shares of the company's stock in a transaction on Monday, April 7th. The shares were purchased at an average cost of $70.00 per share, for a total transaction of $255,500.00. Following the acquisition, the chief executive officer owned 66,928 shares of the company's stock, valued at approximately $4,684,960. The trade was a 5.77% increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by insiders.

Institutional Trading of GMS

Large investors have recently made changes to their positions in the company. Summit Investment Advisors Inc. raised its stake in shares of GMS by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,130 shares of the company's stock worth $350,000 after purchasing an additional 131 shares during the last quarter. Yousif Capital Management LLC increased its stake in GMS by 1.0% in the 1st quarter. Yousif Capital Management LLC now owns 15,143 shares of the company's stock valued at $1,108,000 after buying an additional 147 shares during the period. Rockefeller Capital Management L.P. raised its position in GMS by 0.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 37,507 shares of the company's stock worth $3,182,000 after buying an additional 148 shares during the last quarter. Vise Technologies Inc. lifted its stake in shares of GMS by 2.3% in the 4th quarter. Vise Technologies Inc. now owns 7,090 shares of the company's stock worth $601,000 after acquiring an additional 162 shares during the period. Finally, SummerHaven Investment Management LLC boosted its holdings in shares of GMS by 1.8% in the first quarter. SummerHaven Investment Management LLC now owns 9,776 shares of the company's stock valued at $715,000 after acquiring an additional 171 shares in the last quarter. 95.28% of the stock is 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.