GMS (NYSE:GMS) Sees Large Volume Increase - Here's What Happened

GMS Inc. (NYSE:GMS - Get Free Report) shares saw strong trading volume on Tuesday . 1,258,970 shares traded hands during mid-day 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 Ratings Changes

A number of equities analysts recently issued reports on the company. Raymond James Financial lowered GMS from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 25th. Loop Capital lifted their price objective on shares of GMS from $95.00 to $110.00 and gave the company a "hold" rating in a research note on Tuesday, July 1st. Robert W. Baird reiterated a "neutral" rating and issued a $95.00 target price (up previously from $93.00) on shares of GMS in a research report on Monday, June 23rd. Royal Bank Of Canada boosted their price target on shares of GMS from $95.20 to $110.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 1st. Finally, Stephens lowered shares of GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 price objective on the stock. in a research note on Friday, June 27th. Ten equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, GMS currently has a consensus rating of "Hold" and an average target price of $101.11.

GMS Trading Down 0.0%

The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of 37.83 and a beta of 1.71. The company has a quick ratio of 1.17, a current ratio of 1.91 and a debt-to-equity ratio of 0.85. The firm's 50 day moving average is $84.84 and its 200 day moving average is $80.47.

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, beating the consensus estimate of $1.11 by $0.18. The company had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.30 billion. GMS had a return on equity of 16.97% and a net margin of 2.09%. The firm's revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.93 earnings per share. Equities analysts forecast that GMS Inc. will post 7.26 earnings per share for the current year.

Insider Activity

In other news, COO George T. Hendren sold 5,000 shares of the company's stock in a transaction on Monday, June 30th. The stock was 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 of the company's stock, valued at $2,592,108.50. This represents a 17.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.90% of the stock is owned by company insiders.

Institutional Trading of GMS

Several institutional investors and hedge funds have recently bought and sold shares of GMS. AlphaQuest LLC boosted its holdings in shares of GMS by 1,710.5% in 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 purchased a new stake in shares of GMS in the 1st quarter valued at approximately $33,000. Canada Pension Plan Investment Board acquired a new position in GMS in the 4th quarter worth approximately $34,000. Brooklyn Investment Group purchased a new position in GMS during the 1st quarter worth approximately $47,000. Finally, Versant Capital Management Inc raised its stake 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 purchasing an additional 445 shares during the period. Institutional investors and hedge funds 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.