GMS (NYSE:GMS) Sees Large Volume Increase - What's Next?

GMS Inc. (NYSE:GMS - Get Free Report) saw an uptick in trading volume on Tuesday . 2,034,520 shares traded hands during mid-day trading, an increase of 260% from the previous session's volume of 565,203 shares.The stock last traded at $110.04 and had previously closed at $110.05.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GMS. Baird R W cut GMS from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 23rd. Robert W. Baird restated a "neutral" rating and issued a $95.00 price objective (up from $93.00) on shares of GMS in a research note on Monday, June 23rd. Raymond James Financial cut GMS from an "outperform" rating to a "market perform" rating in a research note on Wednesday, June 25th. Truist Financial raised their price objective on GMS from $105.00 to $110.00 and gave the stock a "hold" rating in a research note on Tuesday, July 1st. Finally, DA Davidson lifted their price target on GMS from $95.20 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, July 1st. Ten analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $101.11.

GMS Trading Down 0.0%

The company has a market cap of $4.18 billion, a PE ratio of 38.03 and a beta of 1.71. The company has a current ratio of 1.91, a quick ratio of 1.17 and a debt-to-equity ratio of 0.85. The company has a fifty day simple moving average of $88.43 and a two-hundred day simple moving average of $81.29.

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

Insider Buying and Selling

In other GMS news, major shareholder Coliseum Capital Management, L sold 54,944 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $110.05, for a total transaction of $6,046,587.20. Following the completion of the sale, the insider directly owned 3,486,524 shares of the company's stock, valued at approximately $383,691,966.20. This trade represents a 1.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO George T. Hendren sold 5,000 shares of the firm's stock in a transaction that occurred 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. This represents a 17.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 343,627 shares of company stock valued at $37,808,097 over the last ninety days. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On GMS

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC raised its holdings in GMS by 38.7% during the fourth quarter. FMR LLC now owns 5,868,782 shares of the company's stock worth $497,849,000 after purchasing an additional 1,636,612 shares during the last quarter. Coliseum Capital Management LLC raised its holdings in GMS by 81.9% during the first quarter. Coliseum Capital Management LLC now owns 3,437,488 shares of the company's stock worth $251,521,000 after purchasing an additional 1,547,999 shares during the last quarter. Dimensional Fund Advisors LP increased its position in GMS by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,154,021 shares of the company's stock worth $157,609,000 after buying an additional 31,230 shares in the last quarter. American Century Companies Inc. increased its position in GMS by 12.9% during the first quarter. American Century Companies Inc. now owns 1,660,194 shares of the company's stock worth $121,476,000 after buying an additional 189,760 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its position in GMS by 29.4% during the first quarter. Westwood Holdings Group Inc. now owns 933,262 shares of the company's stock worth $68,287,000 after buying an additional 212,128 shares in the last quarter. 95.28% of the stock is owned by institutional investors and hedge funds.

About GMS

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.