GMS (NYSE:GMS) Sets New 12-Month Low - Here's What Happened

Shares of GMS Inc. (NYSE:GMS - Get Free Report) hit a new 52-week low on Tuesday . The stock traded as low as $65.77 and last traded at $66.59, with a volume of 575727 shares trading hands. The stock had previously closed at $69.40.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. UBS Group set a $80.00 price objective on GMS in a research report on Friday, March 7th. Robert W. Baird cut their price objective on GMS from $110.00 to $93.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Barclays dropped their target price on shares of GMS from $80.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Monday, March 10th. Loop Capital reduced their price target on shares of GMS from $93.00 to $80.00 and set a "hold" rating for the company in a research report on Monday, March 10th. Finally, Royal Bank of Canada lowered their price objective on shares of GMS from $82.00 to $65.00 and set a "sector perform" rating on the stock in a research report on Friday, March 7th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $80.50.

GMS Stock Performance

The stock has a market cap of $2.80 billion, a P/E ratio of 13.39 and a beta of 1.62. The company has a current ratio of 2.23, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The stock has a 50 day simple moving average of $76.30 and a 200 day simple moving average of $85.94.

GMS (NYSE:GMS - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.47). The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.29 billion. GMS had a return on equity of 20.67% and a net margin of 3.92%. On average, equities analysts expect that GMS Inc. will post 7.26 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Theron I. Gilliam sold 12,474 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total transaction of $916,340.04. Following the transaction, the director now directly owns 31,507 shares in the company, valued at approximately $2,314,504.22. This represents a 28.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John C. Turner, Jr. bought 3,650 shares of the business's stock in a transaction dated Monday, April 7th. The stock was purchased at an average price of $70.00 per share, for a total transaction of $255,500.00. Following the acquisition, the chief executive officer now directly owns 66,928 shares of the company's stock, valued at approximately $4,684,960. The trade was a 5.77 % increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of GMS by 38.7% in the fourth quarter. FMR LLC now owns 5,868,782 shares of the company's stock worth $497,849,000 after acquiring an additional 1,636,612 shares during the period. Coliseum Capital Management LLC increased its stake in GMS by 135.0% in the 4th quarter. Coliseum Capital Management LLC now owns 1,889,489 shares of the company's stock worth $160,285,000 after acquiring an additional 1,085,551 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in GMS during the fourth quarter valued at $109,277,000. Reinhart Partners LLC. grew its position in GMS by 17.5% in the first quarter. Reinhart Partners LLC. now owns 636,235 shares of the company's stock worth $46,553,000 after acquiring an additional 94,716 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of GMS by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 609,715 shares of the company's stock valued at $51,722,000 after purchasing an additional 15,664 shares during the last quarter. Institutional investors own 95.28% of the company's stock.

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.