GMS (NYSE:GMS) Given "Sector Perform" Rating at Royal Bank of Canada

GMS (NYSE:GMS - Get Free Report)'s stock had its "sector perform" rating restated by stock analysts at Royal Bank of Canada in a note issued to investors on Friday,Benzinga reports. They presently have a $86.00 price target on the stock, up from their prior price target of $78.00. Royal Bank of Canada's price objective would indicate a potential downside of 11.39% from the stock's previous close.

Several other research analysts also recently commented on the stock. StockNews.com downgraded shares of GMS from a "buy" rating to a "hold" rating in a research note on Monday, September 2nd. Loop Capital increased their price objective on GMS from $85.00 to $93.00 and gave the stock a "hold" rating in a research note on Monday, November 25th. Barclays decreased their target price on GMS from $81.00 to $80.00 and set an "equal weight" rating for the company in a research report on Monday, September 9th. Truist Financial dropped their price target on GMS from $95.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday, August 30th. Finally, Robert W. Baird decreased their price objective on GMS from $115.00 to $110.00 and set an "outperform" rating for the company in a report on Friday. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $93.25.

GMS Trading Down 0.7 %

NYSE:GMS traded down $0.71 during mid-day trading on Friday, hitting $97.05. 422,927 shares of the stock traded hands, compared to its average volume of 392,173. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. GMS has a 52 week low of $68.13 and a 52 week high of $105.54. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 17.84 and a beta of 1.68. The firm's 50 day moving average is $95.68 and its two-hundred day moving average is $91.02.

GMS (NYSE:GMS - Get Free Report) last released its earnings results on Thursday, December 5th. The company reported $2.02 EPS for the quarter, missing analysts' consensus estimates of $2.26 by ($0.24). GMS had a net margin of 4.45% and a return on equity of 22.02%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the company posted $2.30 EPS. The company's quarterly revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts predict that GMS will post 7.95 earnings per share for the current year.

Insiders Place Their Bets

In other 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 directly owns 23,772 shares of the company's stock, valued at approximately $2,427,834.36. This represents a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GMS. Vestcor Inc grew its position in GMS by 71.5% during the 3rd quarter. Vestcor Inc now owns 14,330 shares of the company's stock worth $1,298,000 after purchasing an additional 5,972 shares during the last quarter. Barclays PLC grew its holdings in shares of GMS by 374.0% during the third quarter. Barclays PLC now owns 70,580 shares of the company's stock valued at $6,392,000 after buying an additional 55,690 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of GMS by 16.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 42,901 shares of the company's stock valued at $3,886,000 after acquiring an additional 5,936 shares during the period. XTX Topco Ltd acquired a new stake in GMS during the 3rd quarter worth about $1,437,000. Finally, Weiss Asset Management LP purchased a new stake in GMS during the 3rd quarter valued at about $12,490,000. 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.