GMS Inc. (NYSE:GMS - Get Free Report) saw unusually-high trading volume on Tuesday after Royal Bank Of Canada raised their price target on the stock from $95.20 to $110.00. Royal Bank Of Canada currently has a sector perform rating on the stock. Approximately 875,770 shares changed hands during trading, an increase of 84% from the previous session's volume of 476,807 shares.The stock last traded at $109.02 and had previously closed at $108.75.
Other equities analysts also recently issued reports about the stock. Stephens downgraded shares of GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 price objective for the company. in a research note on Friday. Robert W. Baird reissued a "neutral" rating and set a $95.00 target price (up from $93.00) on shares of GMS in a research note on Monday, June 23rd. DA Davidson upgraded shares of GMS from a "hold" rating to a "strong-buy" rating in a report on Friday, June 20th. Truist Financial raised their target price on shares of GMS from $80.00 to $105.00 and gave the stock a "hold" rating in a research report on Friday, June 20th. Finally, Baird R W lowered shares of GMS from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 23rd. Nine analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $92.22.
Read Our Latest Research Report on GMS
Insider Buying and Selling at GMS
In other GMS 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 stock was bought at an average cost of $70.00 per share, for a total transaction of $255,500.00. Following the purchase, the chief executive officer directly owned 66,928 shares in the company, valued at $4,684,960. The trade was a 5.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On GMS
A number of hedge funds and other institutional investors have recently bought and sold shares of GMS. AlphaQuest LLC increased its stake in shares of GMS by 1,710.5% during the fourth quarter. AlphaQuest LLC now owns 344 shares of the company's stock valued at $29,000 after purchasing an additional 325 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of GMS in the 4th quarter worth approximately $34,000. Eukles Asset Management bought a new position in GMS during the 1st quarter valued at approximately $33,000. Brooklyn Investment Group bought a new position in GMS during the 1st quarter valued at approximately $47,000. Finally, Versant Capital Management Inc increased its position in 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 in the last quarter. Hedge funds and other institutional investors own 95.28% of the company's stock.
GMS Stock Up 0.4%
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 stock has a 50 day simple moving average of $79.01 and a 200-day simple moving average of $79.14. The firm has a market cap of $4.16 billion, a PE ratio of 37.79 and a beta of 1.62.
GMS (NYSE:GMS - Get Free Report) last posted its quarterly earnings results on Wednesday, June 18th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.18. The firm 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%. GMS's quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.93 EPS. Sell-side analysts predict that GMS Inc. will post 7.26 EPS for the current fiscal year.
About GMS
(
Get Free Report)
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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