Loop Capital Has Lowered Expectations for GMS (NYSE:GMS) Stock Price

GMS (NYSE:GMS - Get Free Report) had its price target cut by equities research analysts at Loop Capital from $93.00 to $80.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Loop Capital's target price points to a potential upside of 11.23% from the stock's previous close.

A number of other research firms also recently weighed in on GMS. Robert W. Baird reduced their target price on GMS from $110.00 to $93.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Barclays reduced their price objective on GMS from $80.00 to $71.00 and set an "equal weight" rating on the stock in a research note on Monday. Truist Financial decreased their price objective on shares of GMS from $97.00 to $80.00 and set a "hold" rating for the company in a research note on Friday, March 7th. Royal Bank of Canada cut their target price 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. Finally, DA Davidson decreased their price target on GMS from $94.00 to $80.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $80.50.

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GMS Trading Up 2.2 %

Shares of NYSE:GMS traded up $1.57 during trading on Monday, reaching $71.93. The stock had a trading volume of 113,325 shares, compared to its average volume of 394,512. GMS has a 52 week low of $65.88 and a 52 week high of $105.54. The firm's fifty day moving average is $81.23 and its 200 day moving average is $88.29. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 13.23 and a beta of 1.73. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.23.

GMS (NYSE:GMS - Get Free Report) last posted its quarterly earnings data on Thursday, March 6th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.47). GMS had a return on equity of 20.67% and a net margin of 3.92%. The business had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.29 billion. As a group, equities analysts forecast that GMS will post 7.26 EPS for the current fiscal year.

Hedge Funds Weigh In On GMS

Several large investors have recently added to or reduced their stakes in GMS. Intech Investment Management LLC increased its position in GMS by 148.8% in the 3rd quarter. Intech Investment Management LLC now owns 16,511 shares of the company's stock valued at $1,495,000 after acquiring an additional 9,876 shares during the period. Victory Capital Management Inc. raised its position in GMS by 6.4% during the third quarter. Victory Capital Management Inc. now owns 101,541 shares of the company's stock valued at $9,197,000 after buying an additional 6,136 shares during the period. Barclays PLC increased its stake in shares of GMS by 374.0% in the third quarter. Barclays PLC now owns 70,580 shares of the company's stock worth $6,392,000 after acquiring an additional 55,690 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in GMS by 246.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 991 shares of the company's stock valued at $84,000 after acquiring an additional 705 shares during the last quarter. Finally, Vestcor Inc lifted its position in shares of GMS by 71.5% in the third quarter. Vestcor Inc now owns 14,330 shares of the company's stock worth $1,298,000 after buying an additional 5,972 shares during the last quarter. 95.28% of the stock is currently owned by 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.