Barclays Issues Pessimistic Forecast for GMS (NYSE:GMS) Stock Price

GMS (NYSE:GMSGet Free Report) had its price objective dropped by Barclays from $93.00 to $80.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential downside of 3.90% from the stock’s previous close.

A number of other equities analysts also recently issued reports on GMS. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $86.00 price target (up from $78.00) on shares of GMS in a report on Friday, December 6th. Loop Capital upped their target price on shares of GMS from $85.00 to $93.00 and gave the company a “hold” rating in a report on Monday, November 25th. DA Davidson cut their price target on shares of GMS from $97.00 to $94.00 and set a “neutral” rating on the stock in a research note on Friday, December 6th. Truist Financial boosted their price target on shares of GMS from $90.00 to $97.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Finally, Robert W. Baird dropped their price objective on GMS from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, December 6th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $93.57.

Check Out Our Latest Research Report on GMS

GMS Stock Up 0.0 %

Shares of GMS traded up $0.02 during midday trading on Thursday, reaching $83.25. The stock had a trading volume of 57,077 shares, compared to its average volume of 396,078. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 15.30 and a beta of 1.73. The company’s fifty day simple moving average is $92.45 and its two-hundred day simple moving average is $90.45. GMS has a 1-year low of $77.29 and a 1-year high of $105.54. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.23 and a quick ratio of 1.44.

GMS (NYSE:GMSGet Free Report) last posted its quarterly earnings results on Thursday, December 5th. The company reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.24). The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. GMS had a net margin of 3.92% and a return on equity of 20.67%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.30 earnings per share. Equities research analysts expect that GMS will post 7.41 earnings per share for the current year.

Insiders Place Their Bets

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 completion of the sale, the chief operating officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On GMS

A number of large investors have recently bought and sold shares of the company. Quarry LP boosted its holdings in shares of GMS by 37.1% in the second quarter. Quarry LP now owns 403 shares of the company’s stock valued at $32,000 after acquiring an additional 109 shares in the last quarter. GAMMA Investing LLC increased its position in GMS by 138.8% during the 3rd quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock worth $56,000 after purchasing an additional 361 shares during the period. KBC Group NV increased its position in GMS by 31.9% during the 3rd quarter. KBC Group NV now owns 1,162 shares of the company’s stock worth $105,000 after purchasing an additional 281 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of GMS during the 2nd quarter worth approximately $121,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of GMS in the 2nd quarter valued at approximately $201,000. Hedge funds and other institutional investors own 95.28% of the company’s stock.

GMS Company Profile

(Get Free Report)

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.

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Analyst Recommendations for GMS (NYSE:GMS)

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