Brokerages Set GMS Inc. (GMS) Target Price at $36.40

GMS Inc. (NYSE:GMS) has been assigned a consensus recommendation of “Buy” from the eight analysts that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $36.40.

Several research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of GMS from a “hold” rating to a “sell” rating in a research report on Monday, July 3rd. Royal Bank Of Canada increased their price target on shares of GMS from $34.00 to $39.00 and gave the stock an “outperform” rating in a research report on Thursday, September 7th. Stephens decreased their price target on shares of GMS from $40.00 to $36.00 and set an “overweight” rating on the stock in a research report on Monday, July 3rd. Finally, Northcoast Research upgraded shares of GMS from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Monday, July 3rd.

GMS (NYSE GMS) traded down 1.14% during midday trading on Wednesday, hitting $35.48. 199,185 shares of the company were exchanged. The stock has a 50 day moving average of $34.69 and a 200-day moving average of $34.69. GMS has a 1-year low of $20.51 and a 1-year high of $36.08. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 27.17 and a beta of 3.40.

GMS (NYSE:GMS) last released its quarterly earnings results on Wednesday, September 6th. The company reported $0.47 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47. GMS had a net margin of 2.28% and a return on equity of 14.13%. The business had revenue of $642.20 million for the quarter, compared to the consensus estimate of $645.19 million. During the same period last year, the firm earned $0.46 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. Equities analysts expect that GMS will post $2.01 earnings per share for the current year.

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In other GMS news, CEO G Michael Callahan, Jr. sold 12,500 shares of GMS stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $34.73, for a total value of $434,125.00. Following the sale, the chief executive officer now directly owns 528,418 shares in the company, valued at approximately $18,351,957.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lynn Ross sold 1,894 shares of GMS stock in a transaction on Monday, September 25th. The shares were sold at an average price of $34.77, for a total transaction of $65,854.38. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in GMS by 17.2% in the 2nd quarter. Vanguard Group Inc. now owns 2,312,282 shares of the company’s stock valued at $64,976,000 after acquiring an additional 339,051 shares during the last quarter. Citadel Advisors LLC increased its holdings in GMS by 3.2% in the 2nd quarter. Citadel Advisors LLC now owns 1,199,845 shares of the company’s stock valued at $33,716,000 after acquiring an additional 37,668 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of GMS by 6.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,143,477 shares of the company’s stock worth $40,067,000 after buying an additional 66,383 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of GMS by 43.4% in the 2nd quarter. Wells Fargo & Company MN now owns 960,661 shares of the company’s stock worth $26,994,000 after buying an additional 290,711 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of GMS by 1,659.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 827,403 shares of the company’s stock worth $23,250,000 after buying an additional 780,368 shares in the last quarter. Institutional investors own 55.51% of the company’s stock.

GMS Company Profile

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.

Analyst Recommendations for GMS (NYSE:GMS)

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