Loop Capital Boosts GMS (NYSE:GMS) Price Target to $93.00

GMS (NYSE:GMS) had its price target increased by Loop Capital from $85.00 to $93.00 in a research report released on Monday,Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Barclays cut their price target on GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, September 9th. StockNews.com lowered GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Robert W. Baird upped their price objective on GMS from $96.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Truist Financial dropped their price objective on GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, August 30th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, GMS has an average rating of “Hold” and an average price target of $92.50.

GMS Price Performance

Shares of NYSE GMS opened at $100.22 on Monday. GMS has a twelve month low of $65.46 and a twelve 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. The stock has a 50 day moving average of $94.12 and a two-hundred day moving average of $90.66. The stock has a market cap of $3.94 billion, a P/E ratio of 16.71 and a beta of 1.68.

GMS (NYSE:GMS) last released its quarterly earnings results on Thursday, August 29th. The company reported $1.93 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 for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the company earned $2.40 EPS. GMS’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, research analysts forecast that GMS will post 7.95 earnings per share for the current year.

Insider Buying and Selling at GMS

In related news, COO George T. Hendren sold 5,000 shares of the stock in a transaction 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 sale, the chief operating officer now owns 23,772 shares of the company’s stock, valued at $2,427,834.36. This trade represents a 17.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of GMS

Large investors have recently made changes to their positions in the stock. Blue Trust Inc. boosted its stake in shares of GMS by 86.4% during the second quarter. Blue Trust Inc. now owns 369 shares of the company’s stock valued at $30,000 after acquiring an additional 171 shares during the last quarter. Quarry LP boosted its stake in shares of GMS by 37.1% during the second 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. GAMMA Investing LLC boosted its stake in shares of GMS by 138.8% during the third quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock valued at $56,000 after acquiring an additional 361 shares during the last quarter. KBC Group NV boosted its stake in shares of GMS by 31.9% during the third quarter. KBC Group NV now owns 1,162 shares of the company’s stock valued at $105,000 after acquiring an additional 281 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in GMS during the first quarter worth about $127,000. Institutional investors and hedge funds 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.