GMS (NYSE:GMS) Stock Rating Lowered by DA Davidson

DA Davidson downgraded shares of GMS (NYSE:GMS - Free Report) from a buy rating to a neutral rating in a report issued on Tuesday morning, MarketBeat.com reports. They currently have $97.00 target price on the stock.

Several other analysts have also commented on GMS. Truist Financial decreased their price target on GMS from $95.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday, August 30th. Robert W. Baird boosted their target price on shares of GMS from $96.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Loop Capital increased their target price on shares of GMS from $85.00 to $93.00 and gave the stock a "hold" rating in a research report on Monday. StockNews.com lowered shares of GMS from a "buy" rating to a "hold" rating in a research report on Monday, September 2nd. Finally, Barclays dropped their price objective on shares of GMS from $81.00 to $80.00 and set an "equal weight" rating for the company in a report on Monday, September 9th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, GMS currently has an average rating of "Hold" and a consensus target price of $92.50.

GMS Price Performance

Shares of GMS stock traded down $3.40 during mid-day trading on Tuesday, reaching $100.44. The company's stock had a trading volume of 202,309 shares, compared to its average volume of 378,536. The firm's 50-day moving average is $93.90 and its two-hundred day moving average is $90.62. The company has a market cap of $3.95 billion, a P/E ratio of 17.13 and a beta of 1.68. GMS has a 1-year low of $65.46 and a 1-year high of $105.54. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.45 and a current ratio of 2.31.

GMS (NYSE:GMS - Get Free Report) last posted its quarterly earnings results 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). The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. GMS had a return on equity of 22.02% and a net margin of 4.45%. The business's revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the company earned $2.40 EPS. On average, research analysts predict that GMS will post 7.95 earnings per share for the current year.

Insider Buying and Selling at GMS

In other GMS news, COO George T. Hendren sold 5,000 shares of the company's stock in a transaction on 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On GMS

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Comerica Bank boosted its holdings in GMS by 157.0% in the first quarter. Comerica Bank now owns 48,284 shares of the company's stock valued at $4,700,000 after acquiring an additional 29,495 shares during the last quarter. Victory Capital Management Inc. lifted its position in GMS by 6.4% during the 3rd quarter. Victory Capital Management Inc. now owns 101,541 shares of the company's stock valued at $9,197,000 after purchasing an additional 6,136 shares during the period. Algert Global LLC grew its position in shares of GMS by 22.8% during the 2nd quarter. Algert Global LLC now owns 151,535 shares of the company's stock worth $12,215,000 after buying an additional 28,137 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of GMS by 630.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 43,846 shares of the company's stock worth $4,268,000 after buying an additional 37,846 shares during the period. Finally, Intech Investment Management LLC raised its stake in shares of GMS by 148.8% during the third quarter. Intech Investment Management LLC now owns 16,511 shares of the company's stock worth $1,495,000 after buying an additional 9,876 shares during the last quarter. 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.