Truist Financial Trims GMS (NYSE:GMS) Target Price to $95.00

GMS (NYSE:GMS) had its price objective trimmed by Truist Financial from $105.00 to $95.00 in a report published on Friday morning, Benzinga reports. The firm currently has a hold rating on the stock.

GMS has been the topic of a number of other reports. Loop Capital decreased their price objective on GMS from $100.00 to $85.00 and set a hold rating on the stock in a report on Friday. Robert W. Baird decreased their price target on GMS from $112.00 to $100.00 and set an outperform rating on the stock in a research note on Friday. Royal Bank of Canada upped their price target on GMS from $84.00 to $92.00 and gave the stock a sector perform rating in a research note on Friday, March 1st. Barclays decreased their price target on GMS from $93.00 to $81.00 and set an equal weight rating on the stock in a research note on Friday. Finally, StockNews.com upgraded GMS from a buy rating to a strong-buy rating in a research note on Tuesday, June 18th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $88.88.

GMS Price Performance

GMS stock opened at $81.82 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.17 and a quick ratio of 1.47. The business has a 50 day simple moving average of $92.35 and a 200-day simple moving average of $88.91. The firm has a market capitalization of $3.26 billion, a PE ratio of 12.16 and a beta of 1.72. GMS has a 1 year low of $56.58 and a 1 year high of $101.04.

GMS (NYSE:GMS) last released its quarterly earnings data on Thursday, June 20th. The company reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.11). GMS had a net margin of 5.02% and a return on equity of 24.05%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the company posted $2.11 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. Equities research analysts anticipate that GMS will post 8.79 earnings per share for the current fiscal year.

Insider Activity at GMS

In related news, SVP Craig D. Apolinsky sold 20,000 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $96.57, for a total value of $1,931,400.00. Following the transaction, the senior vice president now owns 10,360 shares of the company’s stock, valued at $1,000,465.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GMS

Several large investors have recently bought and sold shares of GMS. DekaBank Deutsche Girozentrale purchased a new position in shares of GMS during the third quarter worth about $316,000. QRG Capital Management Inc. purchased a new position in shares of GMS during the third quarter worth about $463,000. Invesco Ltd. grew its holdings in shares of GMS by 8.6% during the third quarter. Invesco Ltd. now owns 367,197 shares of the company’s stock worth $23,490,000 after purchasing an additional 29,147 shares during the last quarter. CI Investments Inc. purchased a new position in shares of GMS during the third quarter worth about $155,000. Finally, Dark Forest Capital Management LP grew its holdings in shares of GMS by 83.4% during the third quarter. Dark Forest Capital Management LP now owns 23,504 shares of the company’s stock worth $1,504,000 after purchasing an additional 10,690 shares during the last quarter. Hedge funds and other institutional investors own 95.28% of the company’s stock.

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.