GMS (NYSE:GMS) Rating Increased to Strong-Buy at StockNews.com

GMS (NYSE:GMS) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Wednesday.

Several other research analysts have also recently commented on the stock. Stephens boosted their price target on shares of GMS from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Raymond James increased their target price on GMS from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, December 11th. Truist Financial lifted their price target on GMS from $72.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, March 1st. Royal Bank of Canada increased their price objective on GMS from $84.00 to $92.00 and gave the company a “sector perform” rating in a report on Friday, March 1st. Finally, Robert W. Baird boosted their target price on GMS from $92.00 to $105.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $89.63.

GMS Stock Up 0.3 %

Shares of GMS stock traded up $0.32 during trading hours on Wednesday, reaching $96.87. 402,599 shares of the company were exchanged, compared to its average volume of 362,292. The firm has a market cap of $3.86 billion, a PE ratio of 13.57 and a beta of 1.72. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.47 and a current ratio of 2.40. GMS has a 1 year low of $52.00 and a 1 year high of $99.08. The stock’s fifty day moving average is $88.92 and its 200 day moving average is $75.63.

GMS (NYSE:GMS) last issued its quarterly earnings results on Thursday, February 29th. The company reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.01). GMS had a return on equity of 25.65% and a net margin of 5.48%. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter last year, the company earned $1.85 EPS. GMS’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities research analysts forecast that GMS will post 8.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO George T. Hendren sold 10,554 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $96.49, for a total value of $1,018,355.46. Following the completion of the sale, the chief operating officer now owns 23,261 shares in the company, valued at approximately $2,244,453.89. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, COO George T. Hendren sold 10,554 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $96.49, for a total transaction of $1,018,355.46. Following the transaction, the chief operating officer now owns 23,261 shares of the company’s stock, valued at $2,244,453.89. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Craig D. Apolinsky sold 4,455 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $79.54, for a total value of $354,350.70. Following the sale, the senior vice president now directly owns 10,360 shares of the company’s stock, valued at $824,034.40. The disclosure for this sale can be found here. Insiders have sold a total of 24,679 shares of company stock valued at $2,256,462 over the last quarter. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On GMS

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brandywine Global Investment Management LLC lifted its stake in shares of GMS by 10.9% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 123,410 shares of the company’s stock worth $7,895,000 after acquiring an additional 12,120 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in GMS by 99.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 31,000 shares of the company’s stock valued at $1,983,000 after purchasing an additional 15,465 shares during the period. QRG Capital Management Inc. purchased a new stake in GMS in the 3rd quarter valued at approximately $463,000. Lazard Asset Management LLC increased its position in GMS by 17.5% during the 3rd quarter. Lazard Asset Management LLC now owns 190,477 shares of the company’s stock worth $12,184,000 after purchasing an additional 28,311 shares during the period. Finally, Reinhart Partners LLC. raised its stake in shares of GMS by 12.1% during the 4th quarter. Reinhart Partners LLC. now owns 478,108 shares of the company’s stock worth $39,410,000 after buying an additional 51,745 shares in the last quarter. 95.28% of the stock is currently owned by hedge funds and other institutional investors.

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.