Truist Financial Cuts GMS (NYSE:GMS) Price Target to $80.00

GMS (NYSE:GMS - Free Report) had its price objective trimmed by Truist Financial from $97.00 to $80.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a hold rating on the stock.

A number of other analysts also recently weighed in on GMS. Loop Capital lifted their price target 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 lowered their price target on shares of GMS from $110.00 to $93.00 and set an "outperform" rating on the stock in a research note on Friday. Royal Bank of Canada reiterated a "sector perform" rating and issued a $86.00 price objective (up previously from $78.00) on shares of GMS in a research note on Friday, December 6th. DA Davidson lowered their target price on shares of GMS from $97.00 to $94.00 and set a "neutral" rating on the stock in a research report on Friday, December 6th. Finally, Barclays reduced their price target on shares of GMS from $93.00 to $80.00 and set an "equal weight" rating for the company in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, GMS currently has an average rating of "Hold" and an average price target of $80.50.

GMS Stock Performance

NYSE:GMS traded down $1.96 during midday trading on Friday, reaching $70.79. The stock had a trading volume of 480,052 shares, compared to its average volume of 395,101. The stock has a market cap of $2.75 billion, a P/E ratio of 13.01 and a beta of 1.73. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. GMS has a 12-month low of $65.88 and a 12-month high of $105.54. The firm has a fifty day simple moving average of $81.80 and a two-hundred day simple moving average of $88.54.

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

Institutional Trading of GMS

Large investors have recently modified their holdings of the business. Vise Technologies Inc. raised its position in shares of GMS by 2.3% during the 4th quarter. Vise Technologies Inc. now owns 7,090 shares of the company's stock worth $601,000 after purchasing an additional 162 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in GMS by 24.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,380 shares of the company's stock worth $8,006,000 after buying an additional 18,598 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in shares of GMS in the fourth quarter worth $2,643,000. Sherbrooke Park Advisers LLC lifted its position in shares of GMS by 4.0% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 5,536 shares of the company's stock valued at $470,000 after acquiring an additional 211 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of GMS by 42.5% during the fourth quarter. ProShare Advisors LLC now owns 11,894 shares of the company's stock valued at $1,009,000 after acquiring an additional 3,550 shares during the last quarter. 95.28% of the stock is currently 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.