GMS (NYSE:GMS) Shares Gap Down After Earnings Miss

Shares of GMS Inc. (NYSE:GMS - Get Free Report) gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $78.81, but opened at $70.65. GMS shares last traded at $68.96, with a volume of 170,653 shares traded.

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 during the quarter, compared to analysts' expectations of $1.29 billion. GMS had a net margin of 3.92% and a return on equity of 20.67%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GMS. DA Davidson cut their target price on GMS from $94.00 to $80.00 and set a "neutral" rating on the stock in a research report on Friday. Barclays dropped their price objective on GMS from $80.00 to $71.00 and set an "equal weight" rating for the company in a research note on Monday. UBS Group set a $80.00 target price on GMS in a research note on Friday. Truist Financial dropped their target price on GMS from $97.00 to $80.00 and set a "hold" rating for the company in a research report on Friday. Finally, Loop Capital reduced their price target on shares of GMS from $93.00 to $80.00 and set a "hold" rating on the stock in a research report on Monday. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $80.50.

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Hedge Funds Weigh In On GMS

Several hedge funds and other institutional investors have recently made changes to their positions in GMS. FMR LLC raised its holdings in GMS by 38.7% in the fourth quarter. FMR LLC now owns 5,868,782 shares of the company's stock valued at $497,849,000 after acquiring an additional 1,636,612 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of GMS in the 4th quarter valued at approximately $109,277,000. Coliseum Capital Management LLC raised its holdings in shares of GMS by 135.0% in the 4th quarter. Coliseum Capital Management LLC now owns 1,889,489 shares of the company's stock valued at $160,285,000 after purchasing an additional 1,085,551 shares in the last quarter. Granite Investment Partners LLC purchased a new stake in shares of GMS during the 4th quarter worth $11,913,000. Finally, Weiss Asset Management LP acquired a new position in shares of GMS during the third quarter worth $12,490,000. Hedge funds and other institutional investors own 95.28% of the company's stock.

GMS Stock Down 1.5 %

The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. The stock has a market cap of $2.83 billion, a PE ratio of 13.40 and a beta of 1.73. The firm has a fifty day moving average of $82.32 and a 200 day moving average of $88.85.

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.