GMS (GMS) Given New $45.00 Price Target at SunTrust Banks
GMS (NYSE:GMS) had its target price raised by SunTrust Banks to $45.00 in a research note released on Monday. They currently have a buy rating on the stock. SunTrust Banks also issued estimates for GMS’s FY2018 earnings at $1.96 EPS, Q1 2019 earnings at $0.60 EPS, Q2 2019 earnings at $0.65 EPS, Q4 2019 earnings at $0.70 EPS and FY2019 earnings at $2.42 EPS.
GMS has been the topic of several other reports. Royal Bank of Canada reissued a buy rating and set a $46.00 target price on shares of GMS in a research note on Friday. Zacks Investment Research upgraded shares of GMS from a hold rating to a buy rating and set a $38.00 price target for the company in a research report on Wednesday, November 1st. ValuEngine downgraded shares of GMS from a buy rating to a hold rating in a research report on Friday, December 1st. Wells Fargo & Company initiated coverage on shares of GMS in a research report on Wednesday, October 18th. They set a market perform rating and a $38.00 price target for the company. Finally, Barclays set a $43.00 price target on shares of GMS and gave the stock a buy rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $39.63.
Shares of GMS (NYSE:GMS) traded up $0.40 during trading hours on Monday, reaching $38.97. 292,900 shares of the company were exchanged, compared to its average volume of 365,914. The company has a market capitalization of $1,582.56, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 2.75 and a beta of 3.20. GMS has a 52 week low of $25.87 and a 52 week high of $39.98. The company has a quick ratio of 1.70, a current ratio of 2.62 and a debt-to-equity ratio of 1.06.
GMS (NYSE:GMS) last issued its quarterly earnings data on Thursday, December 7th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). GMS had a return on equity of 14.24% and a net margin of 2.26%. The business had revenue of $648.00 million during the quarter, compared to the consensus estimate of $662.03 million. During the same period last year, the firm earned $0.49 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. equities analysts anticipate that GMS will post 2.01 earnings per share for the current fiscal year.
In other news, CEO G Michael Callahan, Jr. sold 12,500 shares of GMS stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $34.73, for a total transaction of $434,125.00. Following the completion of the sale, the chief executive officer now directly owns 528,418 shares of the company’s stock, valued at approximately $18,351,957.14. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Lynn Ross sold 1,894 shares of GMS stock in a transaction on Monday, September 25th. The stock was sold at an average price of $34.77, for a total transaction of $65,854.38. The disclosure for this sale can be found here. Insiders sold a total of 202,676 shares of company stock valued at $7,488,934 in the last three months. 5.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board purchased a new stake in shares of GMS in the second quarter valued at about $1,967,000. Koch Industries Inc. bought a new position in shares of GMS during the 2nd quarter valued at about $324,000. IndexIQ Advisors LLC boosted its position in shares of GMS by 83.3% during the 3rd quarter. IndexIQ Advisors LLC now owns 24,737 shares of the company’s stock valued at $876,000 after purchasing an additional 11,239 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of GMS by 22.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 137,316 shares of the company’s stock valued at $3,859,000 after purchasing an additional 24,747 shares in the last quarter. Finally, Parametrica Management Ltd bought a new position in shares of GMS during the 3rd quarter valued at about $548,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.
GMS Company Profile
GMS Inc is a distributor of wallboard and suspended ceilings systems, or ceilings. The Company provides a product offering of over 20,000 stock keeping units (SKUs) of wallboard, ceilings and complementary interior construction products for interior contractors. It offers steel framing and ancillary products for its customers.
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