GMS Inc. (NYSE:GMS - Get Free Report) gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $73.24, but opened at $83.48. GMS shares last traded at $81.78, with a volume of 419,475 shares trading hands.
The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.11 by $0.18. The company had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.30 billion. GMS had a return on equity of 18.77% and a net margin of 2.61%. The firm's revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.93 EPS.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. Robert W. Baird set a $93.00 price target on shares of GMS in a report on Tuesday. UBS Group set a $80.00 price objective on shares of GMS in a research note on Friday, March 7th. DA Davidson reduced their target price on shares of GMS from $94.00 to $80.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of GMS in a research note on Tuesday. Finally, Truist Financial set a $80.00 target price on GMS in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $80.50.
Check Out Our Latest Stock Report on GMS
Insider Transactions at GMS
In other GMS news, CEO John C. Turner, Jr. purchased 3,650 shares of the business's stock in a transaction dated Monday, April 7th. The shares were bought at an average price of $70.00 per share, with a total value of $255,500.00. Following the completion of the acquisition, the chief executive officer now owns 66,928 shares in the company, valued at approximately $4,684,960. This represents a 5.77% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Theron I. Gilliam sold 12,474 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $73.46, for a total value of $916,340.04. Following the completion of the sale, the director now owns 31,507 shares in the company, valued at approximately $2,314,504.22. This represents a 28.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.90% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in GMS. AlphaQuest LLC boosted its stake in GMS by 1,710.5% during the 4th 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 acquired a new position in GMS during the fourth quarter worth about $34,000. Eukles Asset Management bought a new stake in GMS in the first quarter worth about $33,000. Brooklyn Investment Group acquired a new stake in GMS in the 1st quarter valued at about $47,000. Finally, Versant Capital Management Inc boosted its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 95.28% of the company's stock.
GMS Price Performance
The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.38 and a current ratio of 2.30. The company's 50 day moving average price is $74.56 and its 200-day moving average price is $79.31. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 22.69 and a beta of 1.62.
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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