GMS (NYSE:GMS) Price Target Cut to $93.00 by Analysts at Robert W. Baird

GMS (NYSE:GMS) had its target price lowered by Robert W. Baird from $110.00 to $93.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 25.39% from the stock’s previous close.

Several other research firms also recently issued reports on GMS. Barclays decreased their price objective on shares of GMS from $93.00 to $80.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $86.00 price objective (up previously from $78.00) on shares of GMS in a research note on Friday, December 6th. DA Davidson decreased their price objective on shares of GMS from $97.00 to $94.00 and set a “neutral” rating for the company in a research note on Friday, December 6th. Loop Capital upped their price objective 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. Finally, Truist Financial upped their price objective on shares of GMS from $90.00 to $97.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, GMS presently has a consensus rating of “Hold” and a consensus price target of $83.71.

GMS Stock Performance

Shares of GMS stock opened at $74.17 on Friday. 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 firm has a fifty day moving average price of $82.32 and a 200 day moving average price of $88.88. The company has a market cap of $2.88 billion, a P/E ratio of 13.63 and a beta of 1.73. GMS has a 12 month low of $65.88 and a 12 month high of $105.54.

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

Institutional Investors Weigh In On GMS

Several hedge funds have recently made changes to their positions in the business. Vise Technologies Inc. boosted its stake in shares of GMS by 2.3% during the fourth quarter. Vise Technologies Inc. now owns 7,090 shares of the company’s stock worth $601,000 after buying an additional 162 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of GMS by 24.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,380 shares of the company’s stock worth $8,006,000 after buying an additional 18,598 shares during the period. Voloridge Investment Management LLC acquired a new stake in shares of GMS during the fourth quarter worth about $2,643,000. Sherbrooke Park Advisers LLC boosted its stake in shares of GMS by 4.0% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 5,536 shares of the company’s stock worth $470,000 after buying an additional 211 shares during the period. Finally, ProShare Advisors LLC boosted its stake in shares of GMS by 42.5% during the fourth quarter. ProShare Advisors LLC now owns 11,894 shares of the company’s stock worth $1,009,000 after buying an additional 3,550 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.