Royal Bank Of Canada reissued their buy rating on shares of GMS Inc. (NYSE:GMS) in a research note published on Tuesday morning. Royal Bank Of Canada currently has a $39.00 price objective on the stock.
Several other analysts have also commented on GMS. Northcoast Research raised GMS from a neutral rating to a buy rating and set a $34.00 target price on the stock in a report on Monday, July 3rd. Stephens dropped their target price on GMS from $40.00 to $36.00 and set an overweight rating on the stock in a report on Monday, July 3rd. Zacks Investment Research lowered GMS from a hold rating to a sell rating in a report on Monday, July 3rd. Finally, Robert W. Baird reaffirmed a buy rating and set a $37.00 target price on shares of GMS in a report on Monday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $36.60.
GMS (NYSE GMS) opened at 35.19 on Tuesday. GMS has a 12 month low of $20.51 and a 12 month high of $36.08. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 26.94 and a beta of 3.40. The firm’s 50-day moving average price is $34.75 and its 200 day moving average price is $34.75.
GMS (NYSE:GMS) last announced its quarterly earnings data on Wednesday, September 6th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. GMS had a return on equity of 14.13% and a net margin of 2.28%. The firm had revenue of $642.20 million during the quarter, compared to analysts’ expectations of $645.19 million. During the same period last year, the business posted $0.46 earnings per share. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, analysts anticipate that GMS will post $2.01 earnings per share for the current year.
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In other GMS news, CEO G Michael Callahan, Jr. sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $34.73, for a total value of $434,125.00. Following the sale, the chief executive officer now directly owns 528,418 shares of the company’s stock, valued at $18,351,957.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lynn Ross sold 1,894 shares of the firm’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $34.77, for a total value of $65,854.38. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. American International Group Inc. grew its holdings in GMS by 7.0% in the first quarter. American International Group Inc. now owns 4,377 shares of the company’s stock valued at $153,000 after purchasing an additional 288 shares during the period. Metropolitan Life Insurance Co. NY grew its holdings in GMS by 386.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 5,190 shares of the company’s stock valued at $182,000 after purchasing an additional 4,123 shares during the period. Legal & General Group Plc grew its holdings in GMS by 403.2% in the second quarter. Legal & General Group Plc now owns 5,621 shares of the company’s stock valued at $160,000 after purchasing an additional 4,504 shares during the period. UBS Asset Management Americas Inc. acquired a new stake in GMS in the second quarter valued at approximately $242,000. Finally, Tudor Investment Corp ET AL acquired a new stake in GMS in the second quarter valued at approximately $248,000. 55.51% of the stock is currently owned by institutional investors.
GMS Inc is a distributor of wallboard and suspended ceilings systems, or ceilings. The Company provides a product offering of over 20,000 stock keeping units (SKUs) of wallboard, ceilings and complementary interior construction products for interior contractors. It offers steel framing and ancillary products for its customers.
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