GMS (GMS) Now Covered by Nomura
Nomura assumed coverage on shares of GMS (NYSE:GMS) in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $40.00 target price on the stock.
GMS has been the subject of several other reports. Royal Bank of Canada reaffirmed a buy rating and set a $46.00 target price on shares of GMS in a research report on Friday, December 8th. Barclays set a $46.00 price objective on GMS and gave the stock a buy rating in a report on Sunday, January 7th. ValuEngine lowered GMS from a buy rating to a hold rating in a report on Friday, December 1st. Northcoast Research set a $41.00 price objective on GMS and gave the stock a buy rating in a report on Wednesday, March 7th. Finally, Zacks Investment Research lowered GMS from a hold rating to a sell rating in a report on Tuesday, November 28th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $39.09.
Shares of GMS (GMS) opened at $33.91 on Tuesday. GMS has a 12-month low of $27.20 and a 12-month high of $39.98. The stock has a market capitalization of $1,372.89, a price-to-earnings ratio of 21.19, a PEG ratio of 2.39 and a beta of 1.70. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.80 and a current ratio of 2.91.
In other GMS news, CEO G Michael Callahan, Jr. sold 12,500 shares of GMS stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $37.14, for a total transaction of $464,250.00. Following the completion of the transaction, the chief executive officer now owns 528,418 shares of the company’s stock, valued at approximately $19,625,444.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard K. Mueller sold 500,000 shares of GMS stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $38.05, for a total value of $19,025,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 5,137,499 shares of company stock valued at $195,025,257. 5.90% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of the business. MetLife Investment Advisors LLC purchased a new position in GMS during the 4th quarter valued at about $496,000. Maple Capital Management Inc. grew its holdings in GMS by 112.1% during the 4th quarter. Maple Capital Management Inc. now owns 130,000 shares of the company’s stock valued at $4,893,000 after buying an additional 68,705 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new position in GMS during the 4th quarter valued at about $340,000. Jane Street Group LLC grew its holdings in GMS by 2,621.4% during the 4th quarter. Jane Street Group LLC now owns 188,839 shares of the company’s stock valued at $7,108,000 after buying an additional 181,900 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in GMS by 23.3% during the 4th quarter. TIAA CREF Investment Management LLC now owns 336,600 shares of the company’s stock valued at $12,670,000 after buying an additional 63,551 shares in the last quarter. 72.83% of the stock is owned by institutional investors and hedge funds.
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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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