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Zacks Investment Research Lowers GMS (NYSE:GMS) to Hold

Last updated on Wednesday, July 8, 2020 | 2020 MarketBeat

GMS (NYSE:GMS) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, "GMS Inc. is a distributor of wallboard and suspended ceilings systems. The company's product consists of wallboard, suspended ceilings systems or ceilings and complementary interior construction products in commercial and residential buildings. GMS Inc. is based in Tucker, United States. "

Other equities research analysts also recently issued reports about the stock. Nomura Securities decreased their target price on shares of GMS from $19.00 to $17.00 and set a "neutral" rating for the company in a research report on Friday, April 17th. SunTrust Banks decreased their target price on shares of GMS from $33.00 to $27.00 and set a "buy" rating for the company in a research report on Thursday, April 16th. Nomura boosted their target price on shares of GMS from $17.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, June 26th. Nomura Instinet upped their price objective on shares of GMS from $17.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, June 26th. Finally, TheStreet downgraded shares of GMS from a "b-" rating to a "c+" rating in a research report on Friday, March 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of "Hold" and an average target price of $25.73.

GMS opened at $23.86 on Wednesday. The company has a current ratio of 2.18, a quick ratio of 1.48 and a debt-to-equity ratio of 1.79. The company has a fifty day moving average price of $22.26 and a two-hundred day moving average price of $21.94. The company has a market cap of $1.01 billion, a P/E ratio of 44.19 and a beta of 2.02. GMS has a 1-year low of $10.39 and a 1-year high of $32.42.

GMS (NYSE:GMS) last posted its earnings results on Thursday, June 25th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.52 by $0.04. The company had revenue of $770.90 million during the quarter, compared to the consensus estimate of $734.20 million. GMS had a net margin of 0.72% and a return on equity of 18.74%. The firm's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. On average, research analysts forecast that GMS will post 2.71 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP boosted its stake in GMS by 31.9% in the first quarter. First Trust Advisors LP now owns 76,465 shares of the company's stock valued at $1,203,000 after acquiring an additional 18,505 shares during the last quarter. Bank of Montreal Can boosted its stake in GMS by 59.0% in the fourth quarter. Bank of Montreal Can now owns 5,662 shares of the company's stock valued at $153,000 after acquiring an additional 2,101 shares during the last quarter. Vident Investment Advisory LLC purchased a new stake in shares of GMS during the 1st quarter valued at approximately $802,000. Citigroup Inc. lifted its stake in shares of GMS by 39.6% during the 1st quarter. Citigroup Inc. now owns 43,380 shares of the company's stock valued at $682,000 after buying an additional 12,296 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of GMS by 15.5% during the 1st quarter. State Street Corp now owns 1,274,706 shares of the company's stock valued at $20,051,000 after buying an additional 171,426 shares in the last quarter. Hedge funds and other institutional investors own 92.90% of the company's stock.

GMS Company Profile

GMS Inc distributes wallboards, suspended ceilings systems, and related construction products in the United States and Canada. The company offers wallboard products; and 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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