Truist Financial Issues Positive Forecast for GMS (NYSE:GMS) Stock Price

GMS (NYSE:GMS - Free Report) had its target price lifted by Truist Financial from $105.00 to $110.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Other analysts have also issued reports about the stock. Baird R W lowered shares of GMS from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 23rd. Royal Bank Of Canada increased their target price on GMS from $95.20 to $110.00 and gave the company a "sector perform" rating in a report on Tuesday. Loop Capital raised their price target on GMS from $95.00 to $110.00 and gave the stock a "hold" rating in a research report on Tuesday. Barclays boosted their price objective on GMS from $71.00 to $95.00 and gave the company an "equal weight" rating in a research report on Friday, June 20th. Finally, DA Davidson raised their target price on shares of GMS from $95.20 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday. Ten investment analysts have rated the stock with a hold rating, According to MarketBeat.com, GMS presently has an average rating of "Hold" and an average price target of $101.11.

GMS Price Performance

NYSE:GMS traded up $0.64 during mid-day trading on Tuesday, reaching $109.70. The stock had a trading volume of 2,775,791 shares, compared to its average volume of 523,621. The stock has a market capitalization of $4.18 billion, a P/E ratio of 37.96 and a beta of 1.71. The firm has a 50 day moving average price of $81.23 and a two-hundred day moving average price of $79.68. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.17 and a current ratio of 1.91. GMS has a one year low of $65.77 and a one year high of $109.70.

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

Insider Buying and Selling

In related news, CEO John C. Turner, Jr. purchased 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, for a total transaction of $255,500.00. Following the completion of the acquisition, the chief executive officer directly owned 66,928 shares in the company, valued at approximately $4,684,960. The trade was a 5.77% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO George T. Hendren sold 5,000 shares of the business's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $108.23, for a total transaction of $541,150.00. Following the transaction, the chief operating officer directly owned 23,950 shares in the company, valued at approximately $2,592,108.50. The trade was a 17.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GMS

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

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.