Royal Bank of Canada Cuts GMS (NYSE:GMS) Price Target to $65.00

GMS (NYSE:GMS - Free Report) had its price objective lowered by Royal Bank of Canada from $82.00 to $65.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

GMS has been the subject of several other research reports. Loop Capital increased their target price on GMS from $85.00 to $93.00 and gave the company a "hold" rating in a research note on Monday, November 25th. Robert W. Baird cut their target price on GMS from $110.00 to $93.00 and set an "outperform" rating for the company in a research report on Friday. DA Davidson cut their price objective on GMS from $97.00 to $94.00 and set a "neutral" rating for the company in a research report on Friday, December 6th. Barclays cut their price objective on GMS from $93.00 to $80.00 and set an "equal weight" rating for the company in a research report on Thursday, January 16th. Finally, Truist Financial cut their price objective on GMS from $97.00 to $80.00 and set a "hold" rating for the company in a research report on Friday. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $83.71.

GMS Stock Up 1.7 %

Shares of NYSE GMS traded up $1.24 during mid-day trading on Friday, reaching $74.17. 867,938 shares of the company traded hands, compared to its average volume of 408,471. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.23. The stock has a market cap of $2.88 billion, a PE ratio of 13.63 and a beta of 1.73. The company's fifty day moving average is $82.32 and its two-hundred day moving average is $88.88. GMS has a fifty-two week low of $65.88 and a fifty-two week high of $105.54.

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GMS (NYSE:GMS - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The company reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $1.39 by ($0.47). GMS had a net margin of 3.92% and a return on equity of 20.67%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.29 billion. On average, analysts expect that GMS will post 7.26 earnings per share for the current year.

Institutional Investors Weigh In On GMS

Institutional investors and hedge funds have recently made changes to their positions in the company. AlphaQuest LLC raised its position in shares of GMS by 1,710.5% during the fourth quarter. AlphaQuest LLC now owns 344 shares of the company's stock worth $29,000 after acquiring an additional 325 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of GMS during the fourth quarter worth about $34,000. Blue Trust Inc. boosted its position in shares of GMS by 71.3% during the fourth quarter. Blue Trust Inc. now owns 685 shares of the company's stock worth $62,000 after buying an additional 285 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of GMS by 246.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 991 shares of the company's stock worth $84,000 after buying an additional 705 shares during the period. Finally, KBC Group NV boosted its position in shares of GMS by 31.9% during the third quarter. KBC Group NV now owns 1,162 shares of the company's stock worth $105,000 after buying an additional 281 shares during the period. Institutional investors own 95.28% of the company's stock.

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.