GMS (NYSE:GMS) PT Raised to $115.00

GMS (NYSE:GMS) had its price target lifted by investment analysts at Robert W. Baird from $96.00 to $115.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 19.79% from the stock’s previous close.

A number of other equities analysts have also weighed in on GMS. Truist Financial decreased their price objective on shares of GMS from $95.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 30th. 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. Loop Capital reduced their price objective on GMS from $100.00 to $85.00 and set a “hold” rating for the company in a report on Friday, June 21st. 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 research note on Monday, September 9th. Finally, Royal Bank of Canada dropped their price target on shares of GMS from $92.00 to $85.00 and set a “sector perform” rating on the stock in a research note on Friday, June 21st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $91.50.

GMS Stock Performance

GMS stock opened at $96.00 on Wednesday. The stock’s 50 day moving average is $89.71 and its 200 day moving average is $90.43. The company has a market capitalization of $3.81 billion, a P/E ratio of 14.26 and a beta of 1.68. GMS has a twelve month low of $56.58 and a twelve month high of $101.04. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90.

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

Hedge Funds Weigh In On GMS

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP increased its holdings in GMS by 37.1% in the 2nd quarter. Quarry LP now owns 403 shares of the company’s stock valued at $32,000 after acquiring an additional 109 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of GMS by 2.0% in the first quarter. QRG Capital Management Inc. now owns 8,070 shares of the company’s stock worth $786,000 after buying an additional 160 shares in the last quarter. Pitcairn Co. boosted its stake in GMS by 2.5% during the first quarter. Pitcairn Co. now owns 6,614 shares of the company’s stock valued at $644,000 after buying an additional 160 shares during the last quarter. SummerHaven Investment Management LLC grew its holdings in GMS by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 10,509 shares of the company’s stock valued at $847,000 after buying an additional 162 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in GMS by 86.4% during the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company’s stock valued at $30,000 after buying an additional 171 shares in the last quarter. Institutional investors own 95.28% of the company’s stock.

GMS Company Profile

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.