GMS Inc. (NYSE:GMS) Sees Significant Increase in Short Interest

GMS Inc. (NYSE:GMS - Get Free Report) saw a significant growth in short interest in January. As of January 15th, there was short interest totalling 1,300,000 shares, a growth of 31.5% from the December 31st total of 988,600 shares. Based on an average daily volume of 395,500 shares, the days-to-cover ratio is currently 3.3 days. Approximately 3.4% of the shares of the stock are short sold.

GMS Stock Performance

Shares of GMS stock traded down $1.76 during mid-day trading on Friday, hitting $84.37. 402,269 shares of the stock were exchanged, compared to its average volume of 335,319. GMS has a 12-month low of $77.29 and a 12-month high of $105.54. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.23. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 15.51 and a beta of 1.73. The stock's fifty day simple moving average is $88.69 and its two-hundred day simple moving average is $90.64.

GMS (NYSE:GMS - Get Free Report) last released its quarterly earnings results on Thursday, December 5th. The company reported $2.02 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.24). The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. GMS had a return on equity of 20.67% and a net margin of 3.92%. The company's quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $2.30 EPS. On average, analysts forecast that GMS will post 7.26 EPS for the current year.

Insiders Place Their Bets

In related news, COO George T. Hendren sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $102.13, for a total value of $510,650.00. Following the completion of the sale, the chief operating officer now owns 23,772 shares of the company's stock, valued at approximately $2,427,834.36. This trade represents a 17.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GMS

Institutional investors have recently modified their holdings of the business. Quarry LP increased its holdings in shares of GMS by 37.1% in the 2nd quarter. Quarry LP now owns 403 shares of the company's stock valued at $32,000 after acquiring an additional 109 shares during the period. GAMMA Investing LLC increased its stake in GMS by 138.8% in 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 during the period. Blue Trust Inc. increased its stake in GMS by 71.3% in the 4th quarter. Blue Trust Inc. now owns 685 shares of the company's stock valued at $62,000 after buying an additional 285 shares during the period. KBC Group NV increased its stake in GMS by 31.9% in the 3rd 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 period. Finally, Squarepoint Ops LLC acquired a new position in GMS in the 2nd quarter valued at $201,000. 95.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GMS has been the subject of several research analyst reports. Loop Capital raised their price target on GMS from $85.00 to $93.00 and gave the stock a "hold" rating in a research report on Monday, November 25th. DA Davidson lowered their price target on GMS from $97.00 to $94.00 and set a "neutral" rating for the company in a research report on Friday, December 6th. Barclays lowered their target price on GMS from $93.00 to $80.00 and set an "equal weight" rating for the company in a research note on Thursday, January 16th. Truist Financial increased 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. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $86.00 target price (up from $78.00) on shares of GMS in a research note on Friday, December 6th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $93.57.

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.