GMS (NYSE:GMS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “GMS Inc. is a distributor of wallboard and suspended ceilings systems. The company’s product consists of wallboard, suspended ceilings systems or ceilings and complementary interior construction products in commercial and residential buildings. GMS Inc. is based in Tucker, United States. “
Several other brokerages have also recently commented on GMS. ValuEngine cut shares of GMS from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Robert W. Baird reiterated a “buy” rating and issued a $37.00 price target on shares of GMS in a research report on Monday, October 9th. Royal Bank Of Canada reiterated a “buy” rating and issued a $39.00 price target on shares of GMS in a research report on Tuesday, October 10th. Wells Fargo & Company assumed coverage on shares of GMS in a research report on Wednesday, October 18th. They issued a “market perform” rating and a $38.00 price target on the stock. Finally, SunTrust Banks reiterated a “buy” rating and issued a $40.00 price target on shares of GMS in a research report on Friday, November 10th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. GMS has an average rating of “Buy” and an average price target of $37.38.
GMS (NYSE:GMS) last issued its quarterly earnings results on Wednesday, September 6th. The company reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. GMS had a net margin of 2.28% and a return on equity of 14.13%. The firm had revenue of $642.20 million for the quarter, compared to analysts’ expectations of $645.19 million. During the same period in the previous year, the business earned $0.46 earnings per share. GMS’s revenue for the quarter was up 16.8% compared to the same quarter last year. equities analysts anticipate that GMS will post 2.01 EPS for the current year.
In related news, CEO G Michael Callahan, Jr. sold 12,500 shares of GMS stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $34.73, for a total value of $434,125.00. Following the transaction, the chief executive officer now owns 528,418 shares of the company’s stock, valued at approximately $18,351,957.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lynn Ross sold 1,894 shares of GMS stock in a transaction dated Monday, September 25th. The stock was 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. Insiders sold a total of 202,676 shares of company stock worth $7,488,934 in the last three months. 5.90% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in GMS by 17.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,312,282 shares of the company’s stock valued at $64,976,000 after acquiring an additional 339,051 shares in the last quarter. Citadel Advisors LLC grew its stake in GMS by 3.2% during the 2nd quarter. Citadel Advisors LLC now owns 1,199,845 shares of the company’s stock valued at $33,716,000 after acquiring an additional 37,668 shares in the last quarter. Wells Fargo & Company MN grew its stake in GMS by 43.4% during the 2nd quarter. Wells Fargo & Company MN now owns 960,661 shares of the company’s stock valued at $26,994,000 after acquiring an additional 290,711 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in GMS by 1,659.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 827,403 shares of the company’s stock valued at $23,250,000 after acquiring an additional 780,368 shares in the last quarter. Finally, Emerald Advisers Inc. PA grew its stake in GMS by 0.4% during the 3rd quarter. Emerald Advisers Inc. PA now owns 819,787 shares of the company’s stock valued at $29,020,000 after acquiring an additional 3,530 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors.
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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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