Zacks Investment Research upgraded shares of GMS (NYSE:GMS) from a sell rating to a hold rating in a report published on Monday morning.
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. “
Several other analysts also recently weighed in on the stock. Royal Bank Of Canada lifted their price objective on shares of GMS from $34.00 to $39.00 and gave the company an outperform rating in a research report on Thursday, September 7th. Robert W. Baird reiterated a buy rating and issued a $37.00 price objective on shares of GMS in a research report on Monday, October 9th. Wells Fargo & Company assumed coverage on shares of GMS in a research report on Wednesday, October 18th. They issued a market perform rating and a $38.00 price objective on the stock. SunTrust Banks reiterated a buy rating and issued a $40.00 price objective on shares of GMS in a research report on Friday, November 10th. Finally, ValuEngine downgraded shares of GMS from a buy rating to a hold rating in a research report on Friday, December 1st. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. GMS presently has an average rating of Buy and a consensus target price of $37.38.
GMS (NYSE:GMS) last posted its quarterly earnings results on Wednesday, September 6th. The company reported $0.47 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.47. GMS had a net margin of 2.28% and a return on equity of 14.13%. The business had revenue of $642.20 million during the quarter, compared to analyst estimates of $645.19 million. During the same period in the previous year, the business posted $0.46 EPS. The company’s quarterly revenue was up 16.8% on a year-over-year basis. analysts anticipate that GMS will post 2.01 earnings per share for the current fiscal year.
In other GMS news, CEO G Michael Callahan, Jr. sold 12,500 shares of the business’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $34.52, for a total transaction of $431,500.00. Following the sale, the chief executive officer now directly owns 528,418 shares in the company, valued at approximately $18,240,989.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lynn Ross sold 1,894 shares of the business’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $34.77, for a total transaction of $65,854.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,676 shares of company stock worth $7,488,934. 5.90% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can raised its position in shares of GMS by 213.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 2,823 shares of the company’s stock worth $100,000 after buying an additional 1,923 shares in the last quarter. Legal & General Group Plc raised its position in shares of GMS by 403.2% during the 2nd quarter. Legal & General Group Plc now owns 5,621 shares of the company’s stock worth $160,000 after buying an additional 4,504 shares in the last quarter. Macquarie Group Ltd. bought a new stake in shares of GMS during the 3rd quarter worth about $170,000. Metropolitan Life Insurance Co. NY raised its position in shares of GMS by 386.4% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 5,190 shares of the company’s stock worth $182,000 after buying an additional 4,123 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new stake in shares of GMS during the 3rd quarter worth about $182,000. Institutional investors own 59.34% of the company’s stock.
GMS Company Profile
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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