GMS (NYSE:GMS) Reaches New 52-Week Low – What’s Next?

GMS Inc. (NYSE:GMS) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $77.14 and last traded at $77.28, with a volume of 23721 shares trading hands. The stock had previously closed at $78.17.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GMS. Royal Bank of Canada reissued a “sector perform” rating and set a $86.00 price target (up from $78.00) on shares of GMS in a research note on Friday, December 6th. Barclays cut their price target on GMS from $93.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Robert W. Baird decreased their price objective on GMS from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, December 6th. Loop Capital increased their target price on 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 boosted their target price on GMS from $90.00 to $97.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $93.57.

GMS Stock Up 4.3 %

The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.23. The firm’s fifty day moving average is $83.67 and its 200-day moving average is $89.61. The company has a market capitalization of $3.15 billion, a P/E ratio of 14.94 and a beta of 1.72.

GMS (NYSE:GMS) last released its earnings results on Thursday, December 5th. The company reported $2.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.24). The company had revenue of $1.47 billion for 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 revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.30 EPS. As a group, equities research analysts predict that GMS Inc. will post 7.26 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. FMR LLC increased its position in shares of GMS by 38.7% in the fourth quarter. FMR LLC now owns 5,868,782 shares of the company’s stock worth $497,849,000 after purchasing an additional 1,636,612 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in GMS in the 4th quarter worth approximately $109,277,000. Coliseum Capital Management LLC increased its position in GMS by 135.0% during the 4th quarter. Coliseum Capital Management LLC now owns 1,889,489 shares of the company’s stock valued at $160,285,000 after purchasing an additional 1,085,551 shares during the period. Granite Investment Partners LLC bought a new position in GMS in the fourth quarter worth about $11,913,000. Finally, Weiss Asset Management LP bought a new stake in shares of GMS during the third quarter valued at approximately $12,490,000. Hedge funds and other 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.