GMS Inc. (GMS) Receives Average Rating of “Buy” from Brokerages
Shares of GMS Inc. (NYSE:GMS) have earned a consensus recommendation of “Buy” from the eight research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $36.20.
GMS has been the subject of several research reports. ValuEngine raised GMS from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research lowered GMS from a “hold” rating to a “sell” rating in a research note on Monday, July 3rd. Stephens reduced their price objective on GMS from $40.00 to $36.00 and set an “overweight” rating for the company in a research note on Monday, July 3rd. Northcoast Research raised GMS from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Monday, July 3rd. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $38.00 price objective on shares of GMS in a research note on Monday, June 19th.
In other news, major shareholder Investors Lp Aea sold 2,902,129 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $31.68, for a total value of $91,939,446.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard K. Mueller sold 1,000,000 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $31.68, for a total value of $31,680,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,986,079 shares of company stock valued at $126,278,983.
Several hedge funds have recently modified their holdings of GMS. Citadel Advisors LLC boosted its stake in shares of GMS by 294.7% in the first quarter. Citadel Advisors LLC now owns 1,162,177 shares of the company’s stock valued at $40,722,000 after buying an additional 867,736 shares during the period. Vanguard Group Inc. boosted its stake in shares of GMS by 71.6% in the first quarter. Vanguard Group Inc. now owns 1,973,231 shares of the company’s stock valued at $69,142,000 after buying an additional 822,997 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of GMS by 1,659.1% in the second quarter. The Manufacturers Life Insurance Company now owns 827,403 shares of the company’s stock valued at $23,250,000 after buying an additional 780,368 shares during the period. Wells Fargo & Company MN boosted its stake in shares of GMS by 13,592.0% in the first quarter. Wells Fargo & Company MN now owns 669,950 shares of the company’s stock valued at $23,476,000 after buying an additional 665,057 shares during the period. Finally, FMR LLC acquired a new stake in shares of GMS during the first quarter valued at approximately $20,972,000. 41.32% of the stock is owned by institutional investors and hedge funds.
Shares of GMS (NYSE:GMS) traded down 0.34% during mid-day trading on Tuesday, hitting $29.72. The stock had a trading volume of 169,843 shares. The firm has a market cap of $1.22 billion, a P/E ratio of 24.97 and a beta of 3.53. GMS has a 12-month low of $20.23 and a 12-month high of $36.99. The company has a 50 day moving average price of $29.37 and a 200 day moving average price of $31.98.
GMS (NYSE:GMS) last released its quarterly earnings data on Thursday, June 29th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.02. The business had revenue of $615 million during the quarter, compared to analyst estimates of $614.93 million. GMS had a return on equity of 14.15% and a net margin of 2.11%. The company’s revenue was up 16.7% compared to the same quarter last year. During the same period last year, the company posted $0.53 EPS. Equities analysts forecast that GMS will post $1.99 earnings per share for the current fiscal year.
GMS Inc is a distributor of wallboard and suspended ceilings systems, or ceilings. The Company provides a product offering of over 20,000 stock keeping units (SKUs) of wallboard, ceilings and complementary interior construction products for interior contractors. It offers steel framing and ancillary products for its customers.
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