Raymond James Financial Issues Positive Forecast for GMS (NYSE:GMS) Stock Price

GMS (NYSE:GMS - Get Free Report) had its price objective upped by investment analysts at Raymond James Financial from $80.00 to $90.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Raymond James Financial's price target suggests a potential downside of 13.37% from the company's current price.

Other research analysts also recently issued research reports about the stock. Stephens boosted their price target on shares of GMS from $90.00 to $95.00 and gave the stock an "overweight" rating in a research report on Friday. UBS Group set a $80.00 target price on shares of GMS in a report on Friday, March 7th. Truist Financial set a $80.00 price target on shares of GMS in a research report on Tuesday. DA Davidson lowered their price objective on GMS from $94.00 to $80.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Finally, Robert W. Baird set a $93.00 target price on GMS in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $87.58.

GMS Trading Up 28.2%

Shares of NYSE:GMS traded up $22.88 during midday trading on Friday, hitting $103.89. 2,143,861 shares of the stock were exchanged, compared to its average volume of 425,855. GMS has a 12 month low of $65.77 and a 12 month high of $105.54. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.38 and a current ratio of 1.91. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 35.95 and a beta of 1.62. The business's 50-day moving average price is $74.89 and its 200 day moving average price is $79.19.

GMS (NYSE:GMS - Get Free Report) last announced 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. GMS had a return on equity of 15.29% and a net margin of 2.09%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the business earned $1.93 EPS. The business's quarterly revenue was down 5.6% compared to the same quarter last year. Analysts predict that GMS will post 7.26 earnings per share for the current year.

Insider Activity at GMS

In related news, Director Theron I. Gilliam sold 12,474 shares of the company's 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 sale, the director now owns 31,507 shares in the company, valued at $2,314,504.22. This represents a 28.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John C. Turner, Jr. bought 3,650 shares of the company's stock in a transaction dated Monday, April 7th. The stock was bought at an average price of $70.00 per share, for a total transaction of $255,500.00. Following the acquisition, the chief executive officer now directly owns 66,928 shares of the company's stock, valued at approximately $4,684,960. This represents a 5.77% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GMS

Several institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC grew its stake in GMS by 246.5% in the 4th 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 period. Yousif Capital Management LLC boosted its holdings in shares of GMS by 1.0% in the 1st quarter. Yousif Capital Management LLC now owns 15,143 shares of the company's stock worth $1,108,000 after buying an additional 147 shares during the last quarter. AlphaQuest LLC grew its position in GMS by 1,710.5% during the fourth quarter. AlphaQuest LLC now owns 344 shares of the company's stock valued at $29,000 after buying an additional 325 shares during the period. Deutsche Bank AG increased its holdings in GMS by 26.7% during the fourth quarter. Deutsche Bank AG now owns 49,222 shares of the company's stock worth $4,176,000 after buying an additional 10,377 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in GMS by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 609,715 shares of the company's stock worth $51,722,000 after acquiring an additional 15,664 shares during the period. 95.28% of the stock is owned by 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.

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