GMR Solutions (NYSE:GMRS) Share Price Crosses Above Fifty Day Moving Average Following Analyst Downgrade

Key Points

• GMR Solutions shares rose above their 50-day moving average of $11.30, reaching $11.99 and last trading at $11.78. JPMorgan raised its price target from $15 to $16 and maintained an Overweight rating.
• Analysts have a consensus Moderate Buy rating and an average price target of $18.56, with individual targets ranging from $14 to $20.
• The company reported quarterly EPS of $0.64, beating the $0.47 consensus estimate. The CEO and CFO also sold shares to cover tax withholding related to vested equity awards.

GMR Solutions Inc. (NYSE:GMRS - Get Free Report)'s stock price passed above its 50 day moving average during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $15.00 to $16.00. The stock has a 50 day moving average of $11.30 and traded as high as $11.99. JPMorgan Chase & Co. currently has an overweight rating on the stock. GMR Solutions shares last traded at $11.78, with a volume of 2,552,949 shares changing hands.

A number of other equities analysts also recently issued reports on the stock. Bank of America began coverage on shares of GMR Solutions in a research note on Monday, June 8th. They set a "buy" rating and a $18.00 price objective on the stock. Zacks Research raised shares of GMR Solutions to a "hold" rating in a research note on Tuesday, June 9th. UBS Group started coverage on GMR Solutions in a report on Monday, June 8th. They set a "buy" rating and a $20.00 target price for the company. Barclays started coverage on GMR Solutions in a research report on Monday, June 8th. They set an "overweight" rating and a $16.00 target price on the stock. Finally, Morgan Stanley initiated coverage on GMR Solutions in a report on Monday, June 8th. They issued an "equal weight" rating and a $14.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.56.

Insider Buying and Selling

In other news, CFO Brian Scott Tierney sold 265,794 shares of the company's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $12.20, for a total transaction of $3,242,686.80. Following the transaction, the chief financial officer directly owned 554,955 shares of the company's stock, valued at approximately $6,770,451. This represents a 32.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Nicola Loporcaro sold 1,457,102 shares of the company's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $12.20, for a total value of $17,776,644.40. Following the transaction, the chief executive officer directly owned 2,855,580 shares in the company, valued at approximately $34,838,076. The trade was a 33.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 2,353,423 shares of company stock valued at $28,711,761 over the last quarter.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP acquired a new stake in GMR Solutions in the third quarter worth about $123,000. State of Wyoming acquired a new position in shares of GMR Solutions during the third quarter valued at about $137,000. Two Sigma Securities LLC purchased a new position in shares of GMR Solutions in the 2nd quarter valued at approximately $169,000. Premier Path Wealth Partners LLC purchased a new position in shares of GMR Solutions in the 2nd quarter valued at approximately $348,000. Finally, Squarepoint Ops LLC purchased a new position in shares of GMR Solutions in the 2nd quarter valued at approximately $801,000.

GMR Solutions Stock Performance

The stock has a 50 day moving average of $11.30. The company has a market cap of $785.73 million and a P/E ratio of -7.55. The company has a debt-to-equity ratio of 4.59, a current ratio of 1.74 and a quick ratio of 2.01.

GMR Solutions (NYSE:GMRS - Get Free Report) last issued its quarterly earnings results on Monday, November 9th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.17. The company had revenue of $1.60 billion for the quarter. Sell-side analysts predict that GMR Solutions Inc. will post 1.68 EPS for the current year.

GMR Solutions Company Profile

GMR Solutions Inc. is a provider of emergency medical services delivering EMS and other essential out-of-hospital care in rural and urban communities. GMR Solutions Inc. is based in Lewisville, Texas.

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