GMS (NYSE:GMS) Given New $80.00 Price Target at Barclays

GMS (NYSE:GMS - Get Free Report) had its price objective reduced by equities researchers 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 would suggest a potential downside of 5.05% from the company's current price.

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

GMS Price Performance

NYSE GMS traded up $1.87 during trading hours on Thursday, reaching $84.26. 337,353 shares of the stock traded hands, compared to its average volume of 408,550. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 15.49 and a beta of 1.73. GMS has a 1 year low of $77.29 and a 1 year high of $105.54. The stock has a 50 day simple moving average of $91.80 and a two-hundred day simple moving average of $90.43. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.23 and a quick ratio of 1.44.

GMS (NYSE:GMS - Get Free Report) last issued its 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). The company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.46 billion. GMS had a net margin of 3.92% and a return on equity of 20.67%. The company's revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.30 earnings per share. On average, analysts predict that GMS will post 7.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO George T. Hendren sold 5,000 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $102.13, for a total transaction of $510,650.00. Following the sale, the chief operating officer now owns 23,772 shares in the company, valued at approximately $2,427,834.36. The trade was a 17.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Quarry LP increased its stake in shares of GMS by 37.1% during the second quarter. Quarry LP now owns 403 shares of the company's stock valued at $32,000 after purchasing an additional 109 shares in the last quarter. GAMMA Investing LLC increased its position in GMS by 138.8% during the 3rd quarter. GAMMA Investing LLC now owns 621 shares of the company's stock valued at $56,000 after buying an additional 361 shares in the last quarter. KBC Group NV raised its stake in GMS by 31.9% during the third quarter. KBC Group NV now owns 1,162 shares of the company's stock valued at $105,000 after buying an additional 281 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in GMS in the second quarter worth $121,000. Finally, Squarepoint Ops LLC bought a new position in shares of GMS during the second quarter valued at $201,000. 95.28% of the stock is owned by hedge funds and other institutional investors.

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.