GMR Solutions (NYSE:GMRS) Stock Price Up 6.6% - Here's What Happened

Key Points

• GMRS shares rose 6.6% to $12.95 in mid-day trading, although volume was about 90% below the stock’s average daily volume.
• Analyst sentiment is generally positive: GMR Solutions has a consensus “Moderate Buy” rating and an average price target of $18.67, with recent targets ranging from $14 to $20.
• The company reported a significant quarterly EPS miss, posting a loss of $1.84 per share versus expectations for $0.38, while revenue reached $1.49 billion, up 3.3% year over year. Several institutional investors nevertheless established new positions during the second quarter.

Shares of GMR Solutions Inc. (NYSE:GMRS - Get Free Report) traded up 6.6% during mid-day trading on Tuesday . The stock traded as high as $12.95 and last traded at $12.95. Approximately 80,700 shares changed hands during trading, a decline of 90% from the average daily volume of 819,881 shares. The stock had previously closed at $12.15.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GMRS shares. UBS Group began coverage on shares of GMR Solutions in a research report on Monday, June 8th. They set a "buy" rating and a $20.00 target price on the stock. JPMorgan Chase & Co. began coverage on GMR Solutions in a report on Monday, June 8th. They set an "overweight" rating and a $15.00 price objective on the stock. Morgan Stanley started coverage on GMR Solutions in a research report on Monday, June 8th. They issued an "equal weight" rating and a $14.00 price objective on the stock. Needham & Company LLC set a $18.00 target price on GMR Solutions in a research report on Monday, June 8th. Finally, Evercore raised GMR Solutions to a "strong-buy" rating and set a $20.00 price objective for the company in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, GMR Solutions presently has an average rating of "Moderate Buy" and a consensus price target of $18.67.

GMR Solutions Stock Performance

The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 5.50. The company has a market cap of $682.81 million and a P/E ratio of -8.10. The firm has a 50-day moving average price of $13.55.

GMR Solutions (NYSE:GMRS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($1.84) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($2.22). The business had revenue of $1.49 billion during the quarter. The firm's quarterly revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts anticipate that GMR Solutions Inc. will post 1.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GMRS. Two Sigma Securities LLC acquired a new position in shares of GMR Solutions during the 2nd quarter worth about $169,000. Premier Path Wealth Partners LLC bought a new stake in GMR Solutions during the second quarter worth about $348,000. Readystate Asset Management LP acquired a new position in GMR Solutions during the second quarter valued at approximately $12,936,000. Finally, Alyeska Investment Group L.P. bought a new position in GMR Solutions in the second quarter valued at approximately $36,817,000.

About GMR Solutions

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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