GMS (NYSE:GMS) Sets New 52-Week High - Here's Why

GMS Inc. (NYSE:GMS - Get Free Report)'s stock price hit a new 52-week high on Monday . The stock traded as high as $109.04 and last traded at $108.86, with a volume of 2788946 shares changing hands. The stock had previously closed at $97.33.

Wall Street Analysts Forecast Growth

GMS has been the topic of a number of analyst reports. Stephens cut shares of GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 price target on the stock. in a research note on Friday. Raymond James Financial downgraded shares of GMS from an "outperform" rating to a "market perform" rating in a research report on Wednesday, June 25th. Truist Financial upped their price objective on GMS from $80.00 to $105.00 and gave the company a "hold" rating in a research report on Friday, June 20th. Loop Capital reduced their price objective on GMS from $93.00 to $80.00 and set a "hold" rating for the company in a report on Monday, March 10th. Finally, DA Davidson upgraded shares of GMS from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 20th. Nine research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $90.58.

GMS Stock Up 11.8%

The company has a 50-day moving average of $78.22 and a two-hundred day moving average of $79.01. 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 company has a market capitalization of $4.14 billion, a PE ratio of 37.65 and a beta of 1.62.

GMS (NYSE:GMS - Get Free Report) last posted its quarterly earnings data on Wednesday, June 18th. The company reported $1.29 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the company earned $1.93 earnings per share. The business's revenue for the quarter was down 5.6% compared to the same quarter last year. Sell-side analysts anticipate that GMS Inc. will post 7.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Theron I. Gilliam sold 12,474 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total value of $916,340.04. Following the completion of the transaction, the director now owns 31,507 shares of the company's stock, valued at $2,314,504.22. This represents a 28.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John C. Turner, Jr. bought 3,650 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average price of $70.00 per share, with a total value of $255,500.00. Following the transaction, the chief executive officer now directly owns 66,928 shares of the company's stock, valued at $4,684,960. This represents a 5.77% increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of GMS by 38.7% in the fourth quarter. FMR LLC now owns 5,868,782 shares of the company's stock worth $497,849,000 after buying an additional 1,636,612 shares in the last quarter. Coliseum Capital Management LLC grew its position in shares of GMS by 81.9% during the first quarter. Coliseum Capital Management LLC now owns 3,437,488 shares of the company's stock valued at $251,521,000 after purchasing an additional 1,547,999 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in shares of GMS by 29.4% in the first quarter. Westwood Holdings Group Inc. now owns 933,262 shares of the company's stock worth $68,287,000 after purchasing an additional 212,128 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of GMS by 105.3% in the first quarter. Goldman Sachs Group Inc. now owns 373,738 shares of the company's stock worth $27,346,000 after buying an additional 191,737 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in GMS by 12.9% during the first quarter. American Century Companies Inc. now owns 1,660,194 shares of the company's stock valued at $121,476,000 after buying an additional 189,760 shares during the last quarter. 95.28% of the stock is currently owned by institutional investors.

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.

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