Barclays Has Lowered Expectations for GMS (NYSE:GMS) Stock Price

GMS (NYSE:GMS) had its price target decreased by analysts at Barclays from $80.00 to $71.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential upside of 0.30% from the company’s previous close.

A number of other brokerages have also recently commented on GMS. Royal Bank of Canada lowered their target price on GMS from $82.00 to $65.00 and set a “sector perform” rating on the stock in a report on Friday, March 7th. DA Davidson decreased their price objective on GMS from $94.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Loop Capital boosted their target price on shares of 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 reduced their target price on shares of GMS from $110.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Finally, Truist Financial lowered their price target on shares of GMS from $97.00 to $80.00 and set a “hold” rating for the company in a report on Friday, March 7th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, GMS currently has a consensus rating of “Hold” and a consensus price target of $80.50.

GMS Price Performance

Shares of NYSE GMS opened at $70.79 on Monday. The company has a current ratio of 2.23, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The company’s 50-day moving average price is $81.80 and its 200 day moving average price is $88.54. GMS has a 52 week low of $65.88 and a 52 week high of $105.54. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 13.01 and a beta of 1.73.

GMS (NYSE:GMS) last announced 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 net margin of 3.92% and a return on equity of 20.67%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.29 billion. As a group, research analysts forecast that GMS will post 7.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GMS

Several hedge funds have recently modified their holdings of the stock. AlphaQuest LLC raised its stake in GMS by 1,710.5% during the fourth quarter. AlphaQuest LLC now owns 344 shares of the company’s stock worth $29,000 after purchasing an additional 325 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of GMS during the 4th quarter worth $34,000. Blue Trust Inc. raised its position in shares of GMS by 71.3% in the 4th 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 raised its position in shares of GMS by 246.5% in the 4th 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 holdings in GMS by 31.9% in the third quarter. KBC Group NV now owns 1,162 shares of the company’s stock valued at $105,000 after acquiring an additional 281 shares during the last quarter. 95.28% of the stock is 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.