GMS (NYSE:GMS) Sees Strong Trading Volume - Should You Buy?

GMS Inc. (NYSE:GMS - Get Free Report) saw an uptick in trading volume on Tuesday . 1,258,970 shares were traded during trading, an increase of 137% from the previous session's volume of 531,124 shares.The stock last traded at $109.39 and had previously closed at $109.53.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GMS. Stephens lowered shares of GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 target price on the stock. in a research report on Friday, June 27th. Robert W. Baird reaffirmed a "neutral" rating and set a $95.00 target price (up from $93.00) on shares of GMS in a research report on Monday, June 23rd. Loop Capital raised their target price on shares of GMS from $95.00 to $110.00 and gave the stock a "hold" rating in a research report on Tuesday, July 1st. DA Davidson raised their target price on shares of GMS from $95.20 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Finally, Raymond James Financial lowered shares of GMS from an "outperform" rating to a "market perform" rating in a research report on Wednesday, June 25th. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $101.11.

GMS Stock Down 0.2%

The company's fifty day simple moving average is $82.68 and its 200-day simple moving average is $79.90. 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 has a market capitalization of $4.16 billion, a PE ratio of 37.83 and a beta of 1.71.

GMS (NYSE:GMS - Get Free Report) last released 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. GMS had a net margin of 2.09% and a return on equity of 16.97%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the company earned $1.93 earnings per share. The business's revenue for the quarter was down 5.6% on a year-over-year basis. On average, analysts forecast that GMS Inc. will post 7.26 EPS for the current year.

Insider Activity at GMS

In other news, COO George T. Hendren sold 5,000 shares of GMS stock in a transaction on Monday, June 30th. The shares were sold at an average price of $108.23, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On GMS

Several institutional investors and hedge funds have recently made changes to their positions in GMS. AlphaQuest LLC lifted 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 worth $29,000 after buying an additional 325 shares during the period. Eukles Asset Management acquired a new position in GMS during the first quarter valued at $33,000. Canada Pension Plan Investment Board acquired a new position in GMS during the fourth quarter valued at $34,000. Brooklyn Investment Group acquired a new position in GMS during the first quarter valued at $47,000. Finally, Versant Capital Management Inc lifted its position in 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 purchasing 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.