GMS (NYSE:GMS) Receives “Sector Perform” Rating from Royal Bank of Canada

GMS (NYSE:GMS)‘s stock had its “sector perform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $86.00 price objective on the stock, up from their prior price objective of $78.00. Royal Bank of Canada’s price target would suggest a potential downside of 10.84% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. DA Davidson downgraded GMS from a “buy” rating to a “neutral” rating and set a $97.00 target price on the stock. in a research report on Tuesday, November 26th. Robert W. Baird lowered their price objective on GMS from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday. StockNews.com lowered GMS from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Loop Capital boosted their price target on shares of GMS from $85.00 to $93.00 and gave the company a “hold” rating in a report on Monday, November 25th. Finally, Truist Financial reduced 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. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $92.00.

GMS Stock Performance

GMS traded down $1.30 during trading on Friday, hitting $96.46. The stock had a trading volume of 22,739 shares, compared to its average volume of 381,343. The firm has a market cap of $3.79 billion, a PE ratio of 15.92 and a beta of 1.68. The company has a 50 day simple moving average of $95.56 and a 200-day simple moving average of $91.00. GMS has a 12 month low of $68.13 and a 12 month high of $105.54. The company has a current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90.

GMS (NYSE:GMS) last announced its earnings results on Thursday, December 5th. The company reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.24). GMS had a net margin of 4.45% and a return on equity of 22.02%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company earned $2.30 EPS. GMS’s revenue for the quarter was up 3.5% compared to the same quarter last year. Analysts expect that GMS will post 7.95 EPS for the current year.

Insider Activity at GMS

In related news, COO George T. Hendren sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $102.13, for a total transaction of $510,650.00. Following the completion of the transaction, the chief operating officer now directly owns 23,772 shares of the company’s stock, valued at approximately $2,427,834.36. This represents a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.90% of the stock is owned by insiders.

Institutional Trading of GMS

A number of large investors have recently added to or reduced their stakes in the company. QRG Capital Management Inc. increased its stake in shares of GMS by 2.0% during the 2nd quarter. QRG Capital Management Inc. now owns 8,231 shares of the company’s stock worth $664,000 after purchasing an additional 161 shares during the last quarter. SG Americas Securities LLC boosted its position in GMS by 27.8% during the second quarter. SG Americas Securities LLC now owns 5,154 shares of the company’s stock worth $415,000 after purchasing an additional 1,120 shares during the period. Reinhart Partners LLC. grew its stake in GMS by 1.7% in the 2nd quarter. Reinhart Partners LLC. now owns 495,764 shares of the company’s stock valued at $39,964,000 after buying an additional 8,215 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of GMS by 86.4% during the second quarter. Blue Trust Inc. now owns 369 shares of the company’s stock worth $30,000 after acquiring an additional 171 shares during the period. Finally, Summit Global Investments boosted its stake in GMS by 2.0% in the 2nd quarter. Summit Global Investments now owns 14,712 shares of the company’s stock valued at $1,186,000 after purchasing an additional 288 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.