GMS’s (GMS) “Buy” Rating Reaffirmed at SunTrust Banks, Inc.
GMS has been the topic of several other research reports. Zacks Investment Research upgraded shares of GMS from a hold rating to a buy rating and set a $38.00 price objective on the stock in a report on Wednesday, November 1st. Royal Bank of Canada upped their price objective on shares of GMS from $34.00 to $39.00 and gave the company an outperform rating in a report on Thursday, September 7th. Wells Fargo & Company initiated coverage on shares of GMS in a report on Wednesday, October 18th. They issued a market perform rating and a $38.00 target price on the stock. Finally, Robert W. Baird restated a buy rating and issued a $37.00 target price on shares of GMS in a report on Monday, October 9th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $37.38.
GMS (NYSE GMS) traded up $0.40 during mid-day trading on Friday, reaching $34.21. 163,000 shares of the company traded hands, compared to its average volume of 363,605. GMS has a 1-year low of $23.36 and a 1-year high of $36.99. The firm has a market capitalization of $1,420.00 and a price-to-earnings ratio of 19.54. The company has a current ratio of 2.80, a quick ratio of 1.82 and a debt-to-equity ratio of 1.11.
GMS (NYSE:GMS) last announced its quarterly earnings data on Wednesday, September 6th. The company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. GMS had a net margin of 2.28% and a return on equity of 14.13%. The firm had revenue of $642.20 million for the quarter, compared to analyst estimates of $645.19 million. During the same quarter in the prior year, the business earned $0.46 earnings per share. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. equities analysts anticipate that GMS will post 2.01 earnings per share for the current year.
In other news, insider Lynn Ross sold 1,894 shares of the stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $34.77, for a total transaction of $65,854.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO G Michael Callahan, Jr. sold 12,500 shares of the stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $34.52, for a total transaction of $431,500.00. Following the transaction, the chief executive officer now directly owns 528,418 shares of the company’s stock, valued at $18,240,989.36. The disclosure for this sale can be found here. Insiders have sold a total of 26,894 shares of company stock valued at $931,479 over the last three months. Insiders own 5.90% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in GMS by 17.2% in the 2nd quarter. Vanguard Group Inc. now owns 2,312,282 shares of the company’s stock worth $64,976,000 after buying an additional 339,051 shares during the period. Citadel Advisors LLC lifted its stake in GMS by 3.2% in the 2nd quarter. Citadel Advisors LLC now owns 1,199,845 shares of the company’s stock worth $33,716,000 after purchasing an additional 37,668 shares in the last quarter. Wells Fargo & Company MN lifted its stake in GMS by 43.4% in the 2nd quarter. Wells Fargo & Company MN now owns 960,661 shares of the company’s stock worth $26,994,000 after purchasing an additional 290,711 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in GMS by 1,659.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 827,403 shares of the company’s stock worth $23,250,000 after purchasing an additional 780,368 shares in the last quarter. Finally, Emerald Advisers Inc. PA lifted its stake in GMS by 0.4% in the 3rd quarter. Emerald Advisers Inc. PA now owns 819,787 shares of the company’s stock worth $29,020,000 after purchasing an additional 3,530 shares in the last quarter. 56.16% of the stock is owned by institutional investors.
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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