GMS's (GMS) "Market Perform" Rating Reiterated at Raymond James Financial

GMS (NYSE:GMS - Get Free Report)'s stock had its "market perform" rating reissued by investment analysts at Raymond James Financial in a research note issued to investors on Wednesday,Benzinga reports.

GMS has been the subject of a number of other research reports. Stephens lifted their price objective on shares of GMS from $90.00 to $95.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Barclays raised their target price on GMS from $71.00 to $95.00 and gave the company an "equal weight" rating in a research report on Friday, June 20th. Truist Financial upped their price target on GMS from $80.00 to $105.00 and gave the stock a "hold" rating in a report on Friday, June 20th. Loop Capital cut their price objective 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 upgraded GMS from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 20th. Eight investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, GMS currently has an average rating of "Hold" and an average target price of $90.58.

GMS Stock Performance

Shares of NYSE GMS traded down $0.86 during trading on Wednesday, reaching $98.83. 414,034 shares of the company traded hands, compared to its average volume of 473,197. The stock has a market cap of $3.76 billion, a P/E ratio of 34.20 and a beta of 1.62. The firm's fifty day simple moving average is $76.55 and its 200 day simple moving average is $79.05. The company has a current ratio of 1.91, a quick ratio of 1.17 and a debt-to-equity ratio of 0.85. GMS has a 12-month low of $65.77 and a 12-month high of $105.54.

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

Insider Buying and Selling

In related news, Director Theron I. Gilliam sold 12,474 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $73.46, for a total transaction of $916,340.04. Following the transaction, the director now directly owns 31,507 shares in the company, valued at approximately $2,314,504.22. The trade was a 28.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO John C. Turner, Jr. acquired 3,650 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average cost of $70.00 per share, with a total value of $255,500.00. Following the purchase, the chief executive officer now owns 66,928 shares in the company, 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

A number of institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC increased its holdings in shares of GMS by 246.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 991 shares of the company's stock valued at $84,000 after purchasing an additional 705 shares during the last quarter. Yousif Capital Management LLC grew its holdings in GMS by 1.0% in the 1st quarter. Yousif Capital Management LLC now owns 15,143 shares of the company's stock valued at $1,108,000 after buying an additional 147 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of GMS in the 1st quarter worth $442,000. AlphaQuest LLC increased its stake in shares of GMS by 1,710.5% in the 4th quarter. AlphaQuest LLC now owns 344 shares of the company's stock worth $29,000 after acquiring an additional 325 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of GMS by 26.7% during the 4th quarter. Deutsche Bank AG now owns 49,222 shares of the company's stock worth $4,176,000 after acquiring an additional 10,377 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.