DA Davidson Lowers GMS (NYSE:GMS) Price Target to $80.00

GMS (NYSE:GMS) had its price target decreased by DA Davidson from $94.00 to $80.00 in a report published on Friday morning,Benzinga reports. DA Davidson currently has a neutral rating on the stock.

GMS has been the subject of a number of other reports. Royal Bank of Canada decreased their price target on GMS from $82.00 to $65.00 and set a “sector perform” rating for the company in a research note on Friday. Loop Capital raised their target price on shares of GMS from $85.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, November 25th. Barclays lowered their target price on shares of GMS from $93.00 to $80.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Robert W. Baird cut their price target on shares of GMS from $110.00 to $93.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Truist Financial lowered their price objective on shares of GMS from $97.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $83.71.

GMS Stock Performance

Shares of GMS stock opened at $74.17 on Friday. GMS has a 12 month low of $65.88 and a 12 month high of $105.54. The company’s fifty day simple moving average is $82.32 and its 200-day simple moving average is $88.90. The firm has a market cap of $2.88 billion, a PE ratio of 13.63 and a beta of 1.73. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97.

GMS (NYSE:GMS) last issued its quarterly earnings results on Thursday, March 6th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.47). The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.29 billion. GMS had a return on equity of 20.67% and a net margin of 3.92%. Equities research analysts expect that GMS will post 7.26 EPS for the current fiscal year.

Institutional Trading of GMS

Hedge funds have recently modified their holdings of the stock. AlphaQuest LLC lifted its position in GMS by 1,710.5% during the fourth quarter. AlphaQuest LLC now owns 344 shares of the company’s stock worth $29,000 after acquiring an additional 325 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of GMS during the fourth quarter worth approximately $34,000. Blue Trust Inc. lifted its holdings in GMS by 71.3% during the 4th quarter. Blue Trust Inc. now owns 685 shares of the company’s stock worth $62,000 after purchasing an additional 285 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in GMS by 246.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 991 shares of the company’s stock worth $84,000 after purchasing an additional 705 shares during the last quarter. Finally, KBC Group NV boosted its stake in GMS by 31.9% in the 3rd quarter. KBC Group NV now owns 1,162 shares of the company’s stock valued at $105,000 after purchasing an additional 281 shares during the period. Institutional investors and hedge funds own 95.28% of the company’s stock.

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.