Zacks Investment Research upgraded shares of GMS Inc. (NYSE:GMS) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. The brokerage currently has $38.00 target price on the stock.
According to Zacks, “GMS Inc. is a distributor of wallboard and suspended ceilings systems. The company’s product consists of wallboard, suspended ceilings systems or ceilings and complementary interior construction products in commercial and residential buildings. GMS Inc. is based in Tucker, United States. “
A number of other equities research analysts have also recently commented on GMS. Wells Fargo & Company assumed coverage on GMS in a research note on Wednesday, October 18th. They issued a market perform rating and a $38.00 target price on the stock. Royal Bank Of Canada reissued a buy rating and issued a $39.00 target price on shares of GMS in a research note on Tuesday, October 10th. Finally, Robert W. Baird reaffirmed a buy rating and set a $37.00 price objective on shares of GMS in a research report on Monday, October 9th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $37.00.
Shares of GMS (NYSE GMS) opened at $34.03 on Wednesday. GMS has a 12 month low of $20.68 and a 12 month high of $36.99. The company has a market capitalization of $1,394.24, a price-to-earnings ratio of 19.67, a PEG ratio of 2.42 and a beta of 3.14. The company has a quick ratio of 1.82, a current ratio of 2.80 and a debt-to-equity ratio of 1.11.
GMS (NYSE:GMS) last released its earnings results on Wednesday, September 6th. The company reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. GMS had a return on equity of 14.13% and a net margin of 2.28%. The firm had revenue of $642.20 million for the quarter, compared to analysts’ expectations of $645.19 million. During the same period in the prior year, the firm posted $0.46 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. equities research analysts anticipate that GMS will post 2.01 EPS for the current year.
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In other GMS news, CEO G Michael Callahan, Jr. sold 12,500 shares of the stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $34.73, for a total value of $434,125.00. Following the transaction, the chief executive officer now owns 528,418 shares of the company’s stock, valued at $18,351,957.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Lynn Ross sold 1,894 shares of the stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $34.77, for a total value of $65,854.38. The disclosure for this sale can be found here. Insiders have sold 26,894 shares of company stock worth $931,479 over the last ninety days. 5.90% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the business. American International Group Inc. lifted its holdings in GMS by 7.0% in the first quarter. American International Group Inc. now owns 4,377 shares of the company’s stock valued at $153,000 after acquiring an additional 288 shares during the period. Victory Capital Management Inc. bought a new position in GMS in the third quarter valued at about $182,000. Metropolitan Life Insurance Co. NY lifted its holdings in GMS by 386.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 5,190 shares of the company’s stock valued at $182,000 after acquiring an additional 4,123 shares during the period. Legal & General Group Plc lifted its holdings in GMS by 403.2% in the second quarter. Legal & General Group Plc now owns 5,621 shares of the company’s stock valued at $160,000 after acquiring an additional 4,504 shares during the period. Finally, UBS Asset Management Americas Inc. bought a new position in GMS in the second quarter valued at about $242,000. 56.11% of the stock is currently owned by institutional investors.
GMS Inc is a distributor of wallboard and suspended ceilings systems, or ceilings. The Company provides a product offering of over 20,000 stock keeping units (SKUs) of wallboard, ceilings and complementary interior construction products for interior contractors. It offers steel framing and ancillary products for its customers.
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