GMS (NYSE:GMS) Given New $110.00 Price Target at Royal Bank Of Canada

GMS (NYSE:GMS - Get Free Report) had its price target raised by Royal Bank Of Canada from $95.20 to $110.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 0.27% from the stock's previous close.

A number of other equities analysts also recently issued reports on GMS. Stephens downgraded GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 price objective for the company. in a research report on Friday, June 27th. DA Davidson upgraded shares of GMS from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 20th. Robert W. Baird reissued a "neutral" rating and set a $95.00 target price (up from $93.00) on shares of GMS in a research note on Monday, June 23rd. Raymond James Financial downgraded GMS from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 25th. Finally, Barclays lifted their price objective on shares of GMS from $71.00 to $95.00 and gave the company an "equal weight" rating in a report on Friday, June 20th. Ten research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $101.11.

GMS Stock Up 0.6%

GMS stock traded up $0.64 during midday trading on Tuesday, reaching $109.70. The stock had a trading volume of 2,775,791 shares, compared to its average volume of 523,621. GMS has a 1-year low of $65.77 and a 1-year high of $109.70. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.17 and a current ratio of 1.91. The firm's fifty day simple moving average is $81.96 and its 200-day simple moving average is $79.82. The stock has a market capitalization of $4.18 billion, a P/E ratio of 37.96 and a beta of 1.71.

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

Insider Transactions at GMS

In other GMS news, COO George T. Hendren sold 5,000 shares of the business's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $108.23, for a total transaction of $541,150.00. Following the transaction, the chief operating officer directly owned 23,950 shares of the company's stock, valued at approximately $2,592,108.50. The trade was a 17.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John C. Turner, Jr. acquired 3,650 shares of the firm's stock in a transaction on Monday, April 7th. The stock was bought at an average price of $70.00 per share, with a total value of $255,500.00. Following the completion of the acquisition, the chief executive officer directly owned 66,928 shares in the company, valued at approximately $4,684,960. This represents a 5.77% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On GMS

A number of large investors have recently modified their holdings of GMS. AlphaQuest LLC boosted its position in GMS by 1,710.5% during the 4th quarter. AlphaQuest LLC now owns 344 shares of the company's stock valued at $29,000 after acquiring an additional 325 shares in the last quarter. Eukles Asset Management purchased a new position in shares of GMS in the 1st quarter valued at approximately $33,000. Canada Pension Plan Investment Board bought a new stake in shares of GMS during the fourth quarter valued at approximately $34,000. Brooklyn Investment Group purchased a new stake in GMS in the first quarter worth $47,000. Finally, Versant Capital Management Inc raised its holdings in GMS by 170.5% in the first quarter. Versant Capital Management Inc now owns 706 shares of the company's stock worth $52,000 after purchasing an additional 445 shares in the last quarter. Institutional investors own 95.28% of the company's stock.

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.