GMS Inc. (NYSE:GMS) Short Interest Update

GMS Inc. (NYSE:GMS) was the recipient of a significant drop in short interest in September. As of September 30th, there was short interest totalling 1,200,000 shares, a drop of 11.1% from the September 15th total of 1,350,000 shares. Based on an average daily trading volume, of 409,600 shares, the short-interest ratio is presently 2.9 days. Approximately 3.1% of the shares of the stock are sold short.

Institutional Trading of GMS

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. raised its holdings in GMS by 28.5% in the 2nd quarter. American Century Companies Inc. now owns 1,830,833 shares of the company’s stock worth $147,583,000 after acquiring an additional 406,406 shares during the period. Pacer Advisors Inc. grew its holdings in shares of GMS by 0.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,474,821 shares of the company’s stock worth $118,885,000 after purchasing an additional 6,396 shares in the last quarter. Federated Hermes Inc. increased its position in shares of GMS by 0.9% during the second quarter. Federated Hermes Inc. now owns 1,056,053 shares of the company’s stock valued at $85,128,000 after purchasing an additional 9,516 shares during the period. Westwood Holdings Group Inc. raised its stake in shares of GMS by 4.8% in the second quarter. Westwood Holdings Group Inc. now owns 739,908 shares of the company’s stock valued at $59,644,000 after purchasing an additional 34,205 shares in the last quarter. Finally, LSV Asset Management raised its stake in shares of GMS by 103.0% in the 2nd quarter. LSV Asset Management now owns 690,820 shares of the company’s stock valued at $55,687,000 after buying an additional 350,478 shares in the last quarter. Institutional investors and hedge funds own 95.28% of the company’s stock.

GMS Stock Up 0.9 %

Shares of NYSE GMS traded up $0.84 during trading hours on Tuesday, hitting $95.16. The stock had a trading volume of 40,779 shares, compared to its average volume of 385,289. The firm’s 50-day moving average price is $89.21 and its two-hundred day moving average price is $90.37. GMS has a 52 week low of $56.58 and a 52 week high of $101.04. The company has a market capitalization of $3.77 billion, a P/E ratio of 14.09 and a beta of 1.68. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.45 and a current ratio of 2.31.

GMS (NYSE:GMS) last released its quarterly earnings results on Thursday, August 29th. The company reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.21). The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. GMS had a net margin of 4.45% and a return on equity of 22.02%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.40 EPS. Analysts anticipate that GMS will post 7.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Royal Bank of Canada cut their price objective on GMS from $92.00 to $85.00 and set a “sector perform” rating for the company in a research report on Friday, June 21st. Truist Financial dropped their price target on GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Stephens reduced their price objective on shares of GMS from $112.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, July 1st. Barclays decreased their target price on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, September 9th. Finally, DA Davidson lowered their price target on GMS from $105.00 to $97.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $89.63.

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.