GMS (NYSE:GMS) Upgraded to Strong-Buy at DA Davidson

GMS (NYSE:GMS - Get Free Report) was upgraded by investment analysts at DA Davidson from a "hold" rating to a "strong-buy" rating in a research note issued on Friday,Zacks.com reports. DA Davidson also issued estimates for GMS's FY2027 earnings at $7.31 EPS.

Several other research analysts have also weighed in on the stock. Loop Capital decreased their price objective on shares of GMS from $93.00 to $80.00 and set a "hold" rating for the company in a report on Monday, March 10th. Truist Financial raised their price objective on shares of GMS from $80.00 to $105.00 and gave the stock a "hold" rating in a report on Friday. Royal Bank Of Canada raised their price objective on shares of GMS from $65.00 to $95.20 and gave the stock a "sector perform" rating in a report on Tuesday. Barclays raised their price objective on shares of GMS from $71.00 to $95.00 and gave the stock an "equal weight" rating in a report on Friday. Finally, Robert W. Baird set a $93.00 price objective on shares of GMS in a report on Tuesday. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, GMS currently has a consensus rating of "Moderate Buy" and a consensus target price of $90.36.

GMS Price Performance

GMS opened at $100.62 on Friday. The company has a fifty day simple moving average of $75.45 and a 200 day simple moving average of $79.17. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 34.82 and a beta of 1.62. GMS has a twelve month low of $65.77 and a twelve month high of $105.54. The company has a current ratio of 1.91, a quick ratio of 1.38 and a debt-to-equity ratio of 0.85.

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 the consensus estimate of $1.11 by $0.18. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.30 billion. GMS had a net margin of 2.09% and a return on equity of 15.29%. The firm's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the business earned $1.93 EPS. Equities research analysts expect that GMS will post 7.26 EPS for the current fiscal year.

Insider Activity

In other news, Director Theron I. Gilliam sold 12,474 shares of GMS stock in a transaction dated 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 transaction, the director now directly owns 31,507 shares of the company's stock, valued at approximately $2,314,504.22. The trade was a 28.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John C. Turner, Jr. purchased 3,650 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was acquired at an average cost of $70.00 per share, with a total value of $255,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 66,928 shares in the company, valued at approximately $4,684,960. This trade represents a 5.77% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its position in GMS by 38.7% in the 4th quarter. FMR LLC now owns 5,868,782 shares of the company's stock valued at $497,849,000 after purchasing an additional 1,636,612 shares during the last quarter. Coliseum Capital Management LLC boosted its stake 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 purchasing an additional 1,547,999 shares during the period. Westwood Holdings Group Inc. boosted its stake 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 purchasing an additional 212,128 shares during the period. Goldman Sachs Group Inc. boosted its stake in GMS by 105.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 373,738 shares of the company's stock valued at $27,346,000 after purchasing an additional 191,737 shares during the period. Finally, American Century Companies Inc. boosted its stake in GMS by 12.9% during the 1st quarter. American Century Companies Inc. now owns 1,660,194 shares of the company's stock valued at $121,476,000 after purchasing an additional 189,760 shares during the period. 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.

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