GMS (NYSE:GMS) Hits New 12-Month High - Here's Why

Shares of GMS Inc. (NYSE:GMS - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $101.96 and last traded at $101.75, with a volume of 2925 shares. The stock had previously closed at $99.98.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Barclays dropped their price objective on GMS from $81.00 to $80.00 and set an "equal weight" rating on the stock in a report on Monday, September 9th. Robert W. Baird upped their price objective on GMS from $96.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. StockNews.com lowered GMS from a "buy" rating to a "hold" rating in a report on Monday, September 2nd. Finally, Truist Financial dropped their price objective on GMS from $95.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, August 30th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $91.50.

GMS Price Performance

The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 17.03 and a beta of 1.68. The company has a fifty day simple moving average of $90.64 and a two-hundred day simple moving average of $90.18.

GMS (NYSE:GMS - Get Free Report) last issued its quarterly earnings data 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). GMS had a net margin of 4.45% and a return on equity of 22.02%. The company had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the prior year, the company earned $2.40 earnings per share. The firm's revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that GMS Inc. will post 7.95 earnings per share for the current fiscal year.

Institutional Trading of GMS

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP lifted its position in shares of GMS by 37.1% in the second quarter. Quarry LP now owns 403 shares of the company's stock valued at $32,000 after acquiring an additional 109 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in GMS by 0.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 20,805 shares of the company's stock worth $1,884,000 after buying an additional 113 shares during the period. QRG Capital Management Inc. lifted its position in GMS by 2.0% during the first quarter. QRG Capital Management Inc. now owns 8,070 shares of the company's stock worth $786,000 after buying an additional 160 shares during the period. Pitcairn Co. lifted its position in GMS by 2.5% during the first quarter. Pitcairn Co. now owns 6,614 shares of the company's stock worth $644,000 after buying an additional 160 shares during the period. Finally, SummerHaven Investment Management LLC lifted its position in GMS by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 10,509 shares of the company's stock worth $847,000 after buying an additional 162 shares during the period. 95.28% of the stock is currently 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.