Robert W. Baird Has Lowered Expectations for GMS (NYSE:GMS) Stock Price

GMS (NYSE:GMS - Free Report) had its price objective lowered by Robert W. Baird from $110.00 to $93.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also issued reports on GMS. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $86.00 target price (up from $78.00) on shares of GMS in a research report on Friday, December 6th. Barclays cut their price objective on shares of GMS from $93.00 to $80.00 and set an "equal weight" rating on the stock in a report on Thursday, January 16th. Loop Capital lifted their target price on shares of GMS from $85.00 to $93.00 and gave the stock a "hold" rating in a research note on Monday, November 25th. Truist Financial upped their price target on shares of GMS from $90.00 to $97.00 and gave the company a "hold" rating in a research note on Monday, December 9th. Finally, DA Davidson decreased their price target on shares of GMS from $97.00 to $94.00 and set a "neutral" rating for the company in a report on Friday, December 6th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $80.50.

GMS Stock Down 2.7 %

Shares of NYSE GMS traded down $1.96 during trading hours on Friday, hitting $70.79. 480,052 shares of the stock were exchanged, compared to its average volume of 395,404. GMS has a 12 month low of $65.88 and a 12 month high of $105.54. The firm has a fifty day moving average price of $82.08 and a 200-day moving average price of $88.71. 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 company has a market cap of $2.75 billion, a PE ratio of 13.01 and a beta of 1.73.

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GMS (NYSE:GMS - Get Free Report) last released 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). GMS had a return on equity of 20.67% and a net margin of 3.92%. The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.29 billion. On average, sell-side analysts expect that GMS will post 7.26 EPS for the current year.

Institutional Trading of GMS

Several large investors have recently made changes to their positions in GMS. Janney Montgomery Scott LLC lifted its position in GMS by 1.8% during the third quarter. Janney Montgomery Scott LLC now owns 24,797 shares of the company's stock valued at $2,246,000 after purchasing an additional 428 shares during the period. Meritage Portfolio Management raised its stake in shares of GMS by 11.5% during the 3rd quarter. Meritage Portfolio Management now owns 4,747 shares of the company's stock valued at $430,000 after buying an additional 490 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in shares of GMS by 0.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 20,805 shares of the company's stock valued at $1,884,000 after buying an additional 113 shares during the period. GSA Capital Partners LLP acquired a new stake in GMS during the third quarter worth about $245,000. Finally, 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 acquiring an additional 6,136 shares in the last quarter. 95.28% of the stock is owned by hedge funds and other 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.