GMS (NYSE:GMS) Rating Lowered to Buy at StockNews.com

StockNews.com downgraded shares of GMS (NYSE:GMS) from a strong-buy rating to a buy rating in a report issued on Wednesday.

GMS has been the subject of a number of other research reports. Loop Capital lowered their target price on GMS from $100.00 to $85.00 and set a hold rating for the company in a research note on Friday, June 21st. Royal Bank of Canada lowered their price objective on GMS from $92.00 to $85.00 and set a sector perform rating for the company in a research note on Friday, June 21st. Robert W. Baird lowered their price objective on GMS from $112.00 to $100.00 and set an outperform rating for the company in a research note on Friday, June 21st. DA Davidson lowered their price objective on GMS from $105.00 to $97.00 and set a buy rating for the company in a research note on Tuesday, June 25th. Finally, Barclays lowered their price objective on GMS from $93.00 to $81.00 and set an equal weight rating for the company in a research note on Friday, June 21st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, GMS presently has an average rating of Moderate Buy and a consensus price target of $90.75.

GMS Stock Performance

Shares of NYSE:GMS opened at $80.61 on Wednesday. The firm has a market capitalization of $3.20 billion, a PE ratio of 11.98 and a beta of 1.72. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.17 and a quick ratio of 1.40. The business has a 50-day moving average of $91.17 and a two-hundred day moving average of $89.08. GMS has a 12 month low of $56.58 and a 12 month high of $101.04.

GMS (NYSE:GMS) last announced its quarterly earnings results on Thursday, June 20th. The company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.04 by ($0.11). The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.41 billion. GMS had a return on equity of 24.05% and a net margin of 5.02%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.11 earnings per share. As a group, research analysts forecast that GMS will post 8.72 earnings per share for the current year.

Hedge Funds Weigh In On GMS

Several hedge funds have recently modified their holdings of the company. Burney Co. acquired a new position in shares of GMS in the 1st quarter worth $3,154,000. LRI Investments LLC acquired a new position in shares of GMS in the 1st quarter worth $127,000. Adams Wealth Management grew its holdings in shares of GMS by 8.3% in the 1st quarter. Adams Wealth Management now owns 25,396 shares of the company’s stock worth $2,472,000 after acquiring an additional 1,940 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of GMS in the first quarter worth $475,000. Finally, Zimmer Partners LP acquired a new stake in shares of GMS in the first quarter worth $1,460,000. 95.28% of the stock is currently owned by institutional investors and hedge funds.

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.