Short Interest in GMS Inc. (NYSE:GMS) Decreases By 11.1%

GMS Inc. (NYSE:GMS) was the target of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 1,200,000 shares, a decrease of 11.1% from the September 15th total of 1,350,000 shares. Based on an average daily volume of 409,600 shares, the days-to-cover ratio is presently 2.9 days. Currently, 3.1% of the company’s shares are sold short.

GMS Stock Performance

Shares of NYSE:GMS traded down $0.50 during trading on Thursday, reaching $95.73. The company had a trading volume of 167,548 shares, compared to its average volume of 385,033. GMS has a fifty-two week low of $56.58 and a fifty-two week high of $101.04. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.31 and a quick ratio of 1.45. The stock’s fifty day moving average price is $89.55 and its 200 day moving average price is $90.39. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 14.25 and a beta of 1.68.

GMS (NYSE:GMS) last announced its quarterly earnings data on Thursday, August 29th. The company reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.21). GMS had a net margin of 4.45% and a return on equity of 22.02%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the firm posted $2.40 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, equities research analysts predict that GMS will post 7.95 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on GMS shares. Loop Capital dropped their price target on shares of GMS from $100.00 to $85.00 and set a “hold” rating for the company in a research note on Friday, June 21st. DA Davidson cut their price target on GMS from $105.00 to $97.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Royal Bank of Canada reduced their price target on GMS from $92.00 to $85.00 and set a “sector perform” rating on the stock in a research report on Friday, June 21st. StockNews.com downgraded GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Finally, Truist Financial reduced their target price on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, August 30th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $91.50.

Hedge Funds Weigh In On GMS

Several hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in GMS by 28.5% in the 2nd quarter. American Century Companies Inc. now owns 1,830,833 shares of the company’s stock valued at $147,583,000 after buying an additional 406,406 shares in the last quarter. Pacer Advisors Inc. grew its stake in GMS by 0.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,474,821 shares of the company’s stock worth $118,885,000 after acquiring an additional 6,396 shares during the period. Federated Hermes Inc. boosted its holdings in shares of GMS by 0.9% during the second quarter. Federated Hermes Inc. now owns 1,056,053 shares of the company’s stock worth $85,128,000 after purchasing an additional 9,516 shares during the last quarter. Westwood Holdings Group Inc. grew its position in shares of GMS by 4.8% in the second quarter. Westwood Holdings Group Inc. now owns 739,908 shares of the company’s stock valued at $59,644,000 after purchasing an additional 34,205 shares during the period. Finally, LSV Asset Management lifted its position in GMS by 103.0% during the second quarter. LSV Asset Management now owns 690,820 shares of the company’s stock worth $55,687,000 after buying an additional 350,478 shares during the period. 95.28% of the stock is 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.