Harbor Capital Advisors Inc. Acquires 22,887 Shares of GMS Inc. (NYSE:GMS)

Harbor Capital Advisors Inc. raised its position in GMS Inc. (NYSE:GMS - Free Report) by 108.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,019 shares of the company's stock after buying an additional 22,887 shares during the period. Harbor Capital Advisors Inc. owned 0.11% of GMS worth $3,987,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in GMS by 86.4% in the second quarter. Blue Trust Inc. now owns 369 shares of the company's stock valued at $30,000 after buying an additional 171 shares in the last quarter. Quarry LP raised its stake in shares of GMS by 37.1% in the second quarter. Quarry LP now owns 403 shares of the company's stock worth $32,000 after acquiring an additional 109 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of GMS by 138.8% in the third quarter. GAMMA Investing LLC now owns 621 shares of the company's stock worth $56,000 after acquiring an additional 361 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of GMS in the first quarter worth about $77,000. Finally, LRI Investments LLC bought a new position in shares of GMS in the first quarter worth about $127,000. 95.28% of the stock is currently owned by institutional investors and hedge funds.

GMS Stock Up 0.7 %

GMS traded up $0.67 during trading hours on Monday, hitting $91.61. 206,988 shares of the company's stock were exchanged, compared to its average volume of 378,457. 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 stock's 50-day moving average is $89.66 and its two-hundred day moving average is $89.91. GMS Inc. has a 1-year low of $61.42 and a 1-year high of $101.04. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 15.01 and a beta of 1.68.

GMS (NYSE:GMS - Get Free Report) last posted its quarterly earnings results 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 return on equity of 22.02% and a net margin of 4.45%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the company posted $2.40 earnings per share. The business's revenue was up 2.8% compared to the same quarter last year. Sell-side analysts predict that GMS Inc. will post 7.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.