StockNews.com Upgrades GMS (NYSE:GMS) to Strong-Buy

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

A number of other brokerages have also weighed in on GMS. Barclays upped their price target on shares of GMS from $75.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 5th. Stephens boosted their target price on shares of GMS from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Truist Financial boosted their target price on shares of 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 boosted their target price on shares of GMS from $84.00 to $92.00 and gave the stock a “sector perform” rating in a report on Friday, March 1st. Finally, Robert W. Baird boosted their target price on shares of GMS from $92.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GMS presently has an average rating of “Moderate Buy” and a consensus target price of $89.63.

GMS Trading Up 1.7 %

Shares of NYSE:GMS opened at $92.85 on Wednesday. The company has a 50 day moving average of $93.18 and a 200-day moving average of $80.07. The firm has a market cap of $3.70 billion, a P/E ratio of 13.00 and a beta of 1.73. GMS has a twelve month low of $54.59 and a twelve month high of $101.04. The company has a current ratio of 2.40, a quick ratio of 1.47 and a debt-to-equity ratio of 0.69.

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 analysts’ consensus estimates of $1.61 by ($0.01). The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.27 billion. GMS had a return on equity of 25.65% and a net margin of 5.48%. The company’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.85 earnings per share. As a group, analysts anticipate that GMS will post 8.36 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO John C. Turner, Jr. sold 6,266 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $97.58, for a total transaction of $611,436.28. Following the sale, the chief executive officer now owns 48,074 shares in the company, valued at $4,691,060.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO George T. Hendren sold 10,554 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were 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 directly owns 23,261 shares of the company’s stock, valued at $2,244,453.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John C. Turner, Jr. sold 6,266 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $97.58, for a total transaction of $611,436.28. Following the transaction, the chief executive officer now directly owns 48,074 shares in the company, valued at $4,691,060.92. The disclosure for this sale can be found here. Insiders have sold 36,820 shares of company stock worth $3,561,192 over the last 90 days. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in GMS by 131.1% in the fourth quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $31,000 after acquiring an additional 211 shares in the last quarter. GAMMA Investing LLC bought a new stake in GMS in the fourth quarter worth approximately $32,000. Hexagon Capital Partners LLC grew its position in GMS by 233.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 430 shares of the company’s stock worth $35,000 after acquiring an additional 301 shares in the last quarter. TFO Wealth Partners LLC grew its position in GMS by 174,000.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,741 shares of the company’s stock worth $144,000 after acquiring an additional 1,740 shares in the last quarter. Finally, CI Investments Inc. bought a new stake in GMS in the third quarter worth approximately $155,000. 95.28% of the stock is 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.