GMS (NYSE:GMS) Price Target Lowered to $80.00 at Loop Capital

GMS (NYSE:GMS) had its price objective dropped by equities researchers at Loop Capital from $93.00 to $80.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Loop Capital’s price target would suggest a potential upside of 10.19% from the stock’s current price.

A number of other analysts have also recently commented on the company. DA Davidson reduced their price objective on GMS from $94.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday. UBS Group set a $80.00 price target on shares of GMS in a research report on Friday. Barclays dropped their price objective on shares of GMS from $80.00 to $71.00 and set an “equal weight” rating on the stock in a report on Monday. Robert W. Baird decreased their price target on shares of GMS from $110.00 to $93.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Royal Bank of Canada cut their price objective on shares of GMS from $82.00 to $65.00 and set a “sector perform” rating for the company in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, GMS currently has a consensus rating of “Hold” and a consensus price target of $80.50.

GMS Stock Down 1.9 %

NYSE:GMS traded down $1.42 on Monday, reaching $72.60. 344,128 shares of the stock traded hands, compared to its average volume of 394,113. The company has a current ratio of 2.23, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 13.36 and a beta of 1.73. 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 $88.85.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC lifted its position in shares of GMS by 148.8% in the third quarter. Intech Investment Management LLC now owns 16,511 shares of the company’s stock valued at $1,495,000 after acquiring an additional 9,876 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in GMS by 6.4% in the 3rd quarter. Victory Capital Management Inc. now owns 101,541 shares of the company’s stock worth $9,197,000 after purchasing an additional 6,136 shares in the last quarter. Barclays PLC boosted its stake in GMS by 374.0% in the 3rd quarter. Barclays PLC now owns 70,580 shares of the company’s stock worth $6,392,000 after purchasing an additional 55,690 shares during the period. Smartleaf Asset Management LLC boosted its stake in GMS by 246.5% in 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 period. Finally, Vestcor Inc grew its holdings in GMS by 71.5% during the 3rd quarter. Vestcor Inc now owns 14,330 shares of the company’s stock valued at $1,298,000 after buying an additional 5,972 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.