Barclays Has Lowered Expectations for GMS (NYSE:GMS) Stock Price

GMS (NYSE:GMS) had its price objective dropped by stock analysts at Barclays from $93.00 to $80.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential downside of 3.90% from the stock’s current price.

A number of other equities research analysts have also issued reports on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $86.00 price target (up from $78.00) on shares of GMS in a research report on Friday, December 6th. DA Davidson dropped their target price on GMS from $97.00 to $94.00 and set a “neutral” rating for the company in a report on Friday, December 6th. Robert W. Baird reduced their price target on GMS from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, December 6th. Truist Financial boosted their price target on shares of GMS from $90.00 to $97.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Finally, Loop Capital raised their price objective on shares of GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, November 25th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, GMS presently has a consensus rating of “Hold” and a consensus price target of $93.57.

GMS Price Performance

GMS traded up $0.02 on Thursday, hitting $83.25. 57,077 shares of the company’s stock were exchanged, compared to its average volume of 396,078. GMS has a fifty-two week low of $77.29 and a fifty-two week high of $105.54. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 15.30 and a beta of 1.73. The firm has a 50-day moving average price of $92.45 and a 200-day moving average price of $90.45. The company has a current ratio of 2.23, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97.

GMS (NYSE:GMS) last posted its quarterly earnings results on Thursday, December 5th. The company reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.24). GMS had a return on equity of 20.67% and a net margin of 3.92%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the business posted $2.30 earnings per share. The business’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, equities analysts anticipate that GMS will post 7.41 earnings per share for the current year.

Insider Transactions at GMS

In related news, COO George T. Hendren sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $102.13, for a total transaction of $510,650.00. Following the transaction, the chief operating officer now owns 23,772 shares of the company’s stock, valued at approximately $2,427,834.36. This represents a 17.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Trading of GMS

Hedge funds have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its stake in GMS by 11.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 104,348 shares of the company’s stock worth $8,411,000 after buying an additional 11,120 shares during the period. Renaissance Technologies LLC grew its stake in shares of GMS by 95.4% in the second quarter. Renaissance Technologies LLC now owns 135,000 shares of the company’s stock worth $10,882,000 after acquiring an additional 65,900 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of GMS by 4.5% during the second quarter. Mercer Global Advisors Inc. ADV now owns 8,447 shares of the company’s stock worth $681,000 after acquiring an additional 361 shares during the period. Blair William & Co. IL acquired a new stake in shares of GMS in the second quarter valued at $435,000. Finally, Seven Eight Capital LP purchased a new position in GMS in the second quarter valued at $409,000. Institutional investors and hedge funds own 95.28% of the company’s stock.

GMS Company Profile

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.