Brokerages Set GMS Inc. (GMS) Price Target at $36.83
Shares of GMS Inc. (NYSE:GMS) have been assigned an average rating of “Buy” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $36.83.
Several analysts recently issued reports on the stock. Robert W. Baird restated a “buy” rating and set a $37.00 target price on shares of GMS in a research report on Monday, October 9th. Wells Fargo & Company assumed coverage on shares of GMS in a research report on Wednesday, October 18th. They set a “market perform” rating and a $38.00 target price for the company. Royal Bank Of Canada restated a “buy” rating and set a $39.00 target price on shares of GMS in a research report on Tuesday, October 10th. Finally, Zacks Investment Research upgraded shares of GMS from a “sell” rating to a “hold” rating in a research report on Monday, September 4th.
GMS (NYSE:GMS) last announced its earnings results on Wednesday, September 6th. The company reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $642.20 million during the quarter, compared to analyst estimates of $645.19 million. GMS had a net margin of 2.28% and a return on equity of 14.13%. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.46 earnings per share.
In other GMS news, insider Lynn Ross sold 1,894 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $34.77, for a total value of $65,854.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO G Michael Callahan, Jr. sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $34.52, for a total transaction of $431,500.00. Following the completion of the transaction, the chief executive officer now owns 528,418 shares of the company’s stock, valued at $18,240,989.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,894 shares of company stock valued at $931,479. Company insiders own 5.90% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of GMS. Russell Investments Group Ltd. bought a new position in shares of GMS in the first quarter worth approximately $627,000. Bank of New York Mellon Corp boosted its position in shares of GMS by 49.4% in the first quarter. Bank of New York Mellon Corp now owns 45,055 shares of the company’s stock worth $1,578,000 after purchasing an additional 14,893 shares during the period. Swiss National Bank boosted its position in shares of GMS by 174.8% in the first quarter. Swiss National Bank now owns 37,100 shares of the company’s stock worth $1,300,000 after purchasing an additional 23,600 shares during the period. JPMorgan Chase & Co. boosted its position in shares of GMS by 415.8% in the first quarter. JPMorgan Chase & Co. now owns 44,811 shares of the company’s stock worth $1,570,000 after purchasing an additional 36,124 shares during the period. Finally, American International Group Inc. boosted its position in shares of GMS by 7.0% in the first quarter. American International Group Inc. now owns 4,377 shares of the company’s stock worth $153,000 after purchasing an additional 288 shares during the period. Institutional investors and hedge funds own 56.11% 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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