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

GMS Inc. (NYSE:GMS) shares reached a new 52-week low on Tuesday . The stock traded as low as $65.77 and last traded at $66.59, with a volume of 575727 shares traded. The stock had previously closed at $69.40.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GMS shares. Loop Capital lowered their price target on shares of GMS from $93.00 to $80.00 and set a “hold” rating on the stock in a research report on Monday, March 10th. Robert W. Baird cut their price target on GMS from $110.00 to $93.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Barclays decreased their price target on GMS from $80.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Monday, March 10th. UBS Group set a $80.00 price target on GMS in a report on Friday, March 7th. Finally, DA Davidson cut their target price on shares of GMS from $94.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $80.50.

GMS Price Performance

The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. The firm’s fifty day moving average price is $77.93 and its 200-day moving average price is $86.68. The stock has a market cap of $2.56 billion, a P/E ratio of 12.24 and a beta of 1.62.

GMS (NYSE:GMS) last issued its quarterly earnings data on Thursday, March 6th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.47). The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.29 billion. GMS had a return on equity of 20.67% and a net margin of 3.92%. Analysts forecast that GMS Inc. will post 7.26 earnings per share for the current year.

Insider Buying and Selling at GMS

In other news, Director Theron I. Gilliam sold 12,474 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $73.46, for a total transaction of $916,340.04. Following the completion of the transaction, the director now directly owns 31,507 shares of the company’s stock, valued at $2,314,504.22. The trade was a 28.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On GMS

A number of large investors have recently added to or reduced their stakes in GMS. FMR LLC lifted its holdings in shares of GMS by 38.7% during the 4th quarter. FMR LLC now owns 5,868,782 shares of the company’s stock valued at $497,849,000 after buying an additional 1,636,612 shares during the period. Pacer Advisors Inc. bought a new position in GMS in the fourth quarter valued at about $109,277,000. Coliseum Capital Management LLC boosted its position in GMS by 135.0% in the fourth quarter. Coliseum Capital Management LLC now owns 1,889,489 shares of the company’s stock worth $160,285,000 after purchasing an additional 1,085,551 shares during the last quarter. Granite Investment Partners LLC purchased a new position in GMS in the fourth quarter worth about $11,913,000. Finally, Northern Trust Corp grew its stake in shares of GMS by 13.9% during the 4th quarter. Northern Trust Corp now owns 580,130 shares of the company’s stock valued at $49,212,000 after purchasing an additional 70,927 shares during the period. Institutional investors 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.