Truist Financial Increases GMS (NYSE:GMS) Price Target to $110.00

GMS (NYSE:GMS) had its price objective increased by equities researchers at Truist Financial from $105.00 to $110.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price points to a potential upside of 0.80% from the stock’s current price.

Several other research firms have also recently issued reports on GMS. Robert W. Baird reissued a “neutral” rating and issued a $95.00 target price (up from $93.00) on shares of GMS in a research note on Monday, June 23rd. DA Davidson lifted their price objective on GMS from $95.20 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday. UBS Group set a $80.00 target price on GMS in a research note on Friday, March 7th. Barclays raised their price target on GMS from $71.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, June 20th. Finally, Raymond James Financial downgraded shares of GMS from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 25th. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat, GMS currently has an average rating of “Hold” and a consensus price target of $101.11.

GMS Stock Up 0.3%

Shares of GMS stock opened at $109.13 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.17 and a current ratio of 1.91. GMS has a 52-week low of $65.77 and a 52-week high of $109.38. The company’s 50 day moving average price is $80.51 and its 200-day moving average price is $79.55. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of 37.76 and a beta of 1.71.

GMS (NYSE:GMS) last announced its quarterly earnings results on Wednesday, June 18th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.18. GMS had a net margin of 2.09% and a return on equity of 16.97%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the company posted $1.93 EPS. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. Equities research analysts forecast that GMS will post 7.26 EPS for the current year.

Insiders Place Their Bets

In other GMS news, CEO John C. Turner, Jr. bought 3,650 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were purchased at an average price of $70.00 per share, for a total transaction of $255,500.00. Following the acquisition, the chief executive officer owned 66,928 shares in the company, valued at approximately $4,684,960. This represents a 5.77% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO George T. Hendren sold 5,000 shares of the company’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $108.23, for a total transaction of $541,150.00. Following the completion of the sale, the chief operating officer directly owned 23,950 shares in the company, valued at $2,592,108.50. This represents a 17.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GMS

A number of hedge funds and other institutional investors have recently bought and sold shares of GMS. Summit Investment Advisors Inc. raised its holdings in GMS by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,130 shares of the company’s stock worth $350,000 after acquiring an additional 131 shares during the last quarter. Yousif Capital Management LLC boosted its stake in GMS by 1.0% during the 1st quarter. Yousif Capital Management LLC now owns 15,143 shares of the company’s stock valued at $1,108,000 after purchasing an additional 147 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of GMS by 0.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 37,507 shares of the company’s stock worth $3,182,000 after purchasing an additional 148 shares in the last quarter. Vise Technologies Inc. raised its stake in shares of GMS by 2.3% in the fourth 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. Finally, SummerHaven Investment Management LLC lifted its holdings in shares of GMS by 1.8% during the first quarter. SummerHaven Investment Management LLC now owns 9,776 shares of the company’s stock valued at $715,000 after purchasing an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 95.28% of the company’s stock.

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.