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. It also provides steel framing products, such as steel tracks, studs, and various other steel products used to frame the interior walls of a commercial or institutional building; and insulation, lumber and other wood products, ready-mix joint compound, and various other interior construction products, as well as ancillary products comprising tools, fasteners, and safety products. In addition, the company distributes acoustical ceilings, steel framing, insulation, and related building products, as well as commercial and residential building materials. It serves professional contractors and homebuilders. As of April 30, 2022, the company operated 300 branches across 44 states and the District of Columbia, as well as 6 provinces in Canada. It also operates a network of approximately 300 distribution centers. GMS Inc. was founded in 1971 and is headquartered in Tucker, Georgia.
GMS Trading Up 2.1 %
NYSE:GMS opened at $54.74 on Friday. The company's 50 day moving average price is $47.49 and its 200-day moving average price is $49.27. GMS has a 52 week low of $36.10 and a 52 week high of $61.79. The company has a quick ratio of 1.27, a current ratio of 2.06 and a debt-to-equity ratio of 1.07. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 8.79 and a beta of 1.85.
GMS (NYSE:GMS - Get Rating) last posted its quarterly earnings results on Thursday, June 23rd. The company reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $1.87 by $0.22. GMS had a net margin of 5.90% and a return on equity of 33.76%. During the same quarter in the previous year, the business earned $1.07 EPS. On average, equities research analysts forecast that GMS will post 7.7 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. Truist Financial dropped their target price on shares of GMS from $65.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, June 24th. Raymond James reiterated an "outperform" rating and issued a $70.00 price objective (down from $72.00) on shares of GMS in a research note on Friday, June 24th. StockNews.com upgraded shares of GMS from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 27th. Royal Bank of Canada lowered shares of GMS from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from $73.00 to $46.00 in a research report on Wednesday, June 22nd. Finally, Robert W. Baird cut their target price on shares of GMS from $68.00 to $55.00 and set an "outperform" rating for the company in a research report on Friday, June 24th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $57.33.
Insider Activity
In related news, major shareholder Coliseum Capital Management, L acquired 93,897 shares of the stock in a transaction that occurred on Wednesday, June 22nd. The shares were bought at an average price of $38.72 per share, for a total transaction of $3,635,691.84. Following the completion of the transaction, the insider now directly owns 6,031,573 shares in the company, valued at $233,542,506.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.40% of the company's stock.