GMS (NYSE:GMS) Stock Price Expected to Rise, Truist Financial Analyst Says

GMS (NYSE:GMS - Get Free Report) had its target price upped by equities research analysts at Truist Financial from $80.00 to $105.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Truist Financial's target price points to a potential upside of 3.00% from the company's current price.

Other research analysts also recently issued research reports about the stock. Stephens raised their target price on shares of GMS from $90.00 to $95.00 and gave the company an "overweight" rating in a research report on Friday. Robert W. Baird set a $93.00 price objective on GMS in a report on Tuesday. Raymond James Financial lifted their target price on GMS from $80.00 to $90.00 and gave the company an "outperform" rating in a research report on Friday. Loop Capital reduced their price target on GMS from $93.00 to $80.00 and set a "hold" rating for the company in a research report on Monday, March 10th. Finally, DA Davidson lowered their price target on GMS from $94.00 to $80.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $90.36.

GMS Stock Up 25.8%

Shares of NYSE:GMS traded up $20.94 during midday trading on Friday, reaching $101.95. 3,094,447 shares of the company were exchanged, compared to its average volume of 435,093. The firm has a market cap of $3.91 billion, a PE ratio of 35.28 and a beta of 1.62. GMS has a fifty-two week low of $65.77 and a fifty-two week high of $105.54. The stock has a fifty day simple moving average of $74.89 and a two-hundred day simple moving average of $79.19. The company has a quick ratio of 1.38, a current ratio of 1.91 and a debt-to-equity ratio of 0.85.

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, beating the consensus estimate of $1.11 by $0.18. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.30 billion. GMS had a return on equity of 15.29% and a net margin of 2.09%. The company's revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the business posted $1.93 EPS. As a group, sell-side analysts forecast that GMS will post 7.26 earnings per share for the current year.

Insider Activity at GMS

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in GMS by 2.0% in the fourth quarter. Rhumbline Advisers now owns 109,240 shares of the company's stock valued at $9,267,000 after acquiring an additional 2,180 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of GMS by 1.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 21,152 shares of the company's stock valued at $1,794,000 after purchasing an additional 347 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of GMS by 3.3% in the 4th quarter. Principal Financial Group Inc. now owns 220,249 shares of the company's stock valued at $18,684,000 after purchasing an additional 7,001 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of GMS by 109.5% during the 4th quarter. New York State Common Retirement Fund now owns 26,053 shares of the company's stock valued at $2,210,000 after purchasing an additional 13,615 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its position in GMS by 26.5% during the 4th quarter. Handelsbanken Fonder AB now owns 11,937 shares of the company's stock worth $1,013,000 after purchasing an additional 2,500 shares in the last quarter. 95.28% of the stock is currently 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.

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