GMS Inc. (GMS) Raised to “Buy” at Zacks Investment Research
GMS Inc. (NYSE:GMS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The brokerage presently has a $24.00 price target on the stock. Zacks Investment Research’s price objective suggests a potential upside of 12.25% from the company’s previous close.
According to Zacks, “GMS Inc. is a distributor of wallboard and suspended ceilings systems. The company’s product consists of wallboard, suspended ceilings systems or ceilings and complementary interior construction products in commercial and residential buildings. GMS Inc. is based in Tucker, United States. “
Other equities research analysts have also issued research reports about the stock. Royal Bank Of Canada lowered their target price on shares of GMS from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, September 14th. Credit Suisse Group AG began coverage on shares of GMS in a report on Monday, June 20th. They issued an “outperform” rating and a $26.00 target price on the stock. SunTrust Banks Inc. began coverage on shares of GMS in a report on Monday, June 20th. They issued a “buy” rating and a $28.00 target price on the stock. RBC Capital Markets reaffirmed an “outperform” rating and issued a $26.00 target price (down previously from $28.00) on shares of GMS in a report on Wednesday, September 14th. Finally, Raymond James Financial Inc. began coverage on shares of GMS in a report on Monday, June 20th. They issued an “outperform” rating and a $26.00 target price on the stock. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $25.86.
Shares of GMS (NYSE:GMS) traded up 0.61% during trading on Monday, hitting $21.38. 121,138 shares of the stock traded hands. GMS has a 1-year low of $19.28 and a 1-year high of $26.42. The company has a 50 day moving average of $22.69 and a 200-day moving average of $23.08. The company has a market cap of $875.34 million and a PE ratio of 39.09.
GMS (NYSE:GMS) last posted its earnings results on Tuesday, September 13th. The company reported $0.46 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. The firm earned $549.80 million during the quarter. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. On average, equities analysts anticipate that GMS will post $1.76 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of GMS. Nomura Holdings Inc. acquired a new position in GMS during the second quarter worth about $249,000. Schwab Charles Investment Management Inc. acquired a new position in GMS during the second quarter worth about $256,000. Point72 Asset Management L.P. acquired a new position in GMS during the second quarter worth about $838,000. Castle Ridge Investment Management LP acquired a new position in GMS during the second quarter worth about $4,007,000. Finally, Barclays PLC acquired a new position in GMS during the second quarter worth about $340,000. Institutional investors and hedge funds own 19.72% of the company’s stock.
GMS Inc is a distributor of wallboard and suspended ceilings systems. The Company’s seven segments include Central, Northeast, Southern, Southeast, Southwest and Western, Tool Source Warehouse, Inc and other. It offers wallboard, which is used in building products for interior and exterior walls, and ceilings in residential and commercial structures.
Receive News & Stock Ratings for GMS Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GMS Inc. and related stocks with our FREE daily email newsletter.