Peregrine Capital Management LLC Increases Position in GMS Inc (NYSE:GMS)
Peregrine Capital Management LLC lifted its holdings in GMS Inc (NYSE:GMS) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 312,596 shares of the company’s stock after purchasing an additional 4,458 shares during the period. Peregrine Capital Management LLC owned about 0.73% of GMS worth $7,687,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the stock. New York State Teachers Retirement System boosted its holdings in shares of GMS by 1.6% in the 2nd quarter. New York State Teachers Retirement System now owns 31,196 shares of the company’s stock valued at $767,000 after purchasing an additional 505 shares during the last quarter. Mason Street Advisors LLC lifted its holdings in shares of GMS by 3.9% during the 4th quarter. Mason Street Advisors LLC now owns 14,688 shares of the company’s stock worth $398,000 after acquiring an additional 549 shares during the period. Cetera Advisor Networks LLC lifted its holdings in shares of GMS by 4.3% during the 1st quarter. Cetera Advisor Networks LLC now owns 24,090 shares of the company’s stock worth $379,000 after acquiring an additional 1,000 shares during the period. Swiss National Bank lifted its holdings in shares of GMS by 1.4% during the 1st quarter. Swiss National Bank now owns 80,800 shares of the company’s stock worth $1,271,000 after acquiring an additional 1,100 shares during the period. Finally, Globeflex Capital L P lifted its holdings in shares of GMS by 2.2% during the 1st quarter. Globeflex Capital L P now owns 51,002 shares of the company’s stock worth $802,000 after acquiring an additional 1,119 shares during the period. Hedge funds and other institutional investors own 93.46% of the company’s stock.
A number of brokerages recently weighed in on GMS. Nomura Securities lowered their target price on shares of GMS from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, April 17th. Royal Bank of Canada cut shares of GMS from an “outperform” rating to a “sector perform” rating in a report on Sunday, April 19th. Nomura Instinet increased their target price on shares of GMS from $17.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Zacks Investment Research cut shares of GMS from a “buy” rating to a “hold” rating in a report on Wednesday, July 8th. Finally, SunTrust Banks lowered their price objective on GMS from $33.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. GMS presently has a consensus rating of “Hold” and a consensus price target of $25.73.
GMS (NYSE:GMS) last announced its earnings results on Thursday, June 25th. The company reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.04. GMS had a return on equity of 18.74% and a net margin of 0.72%. The firm had revenue of $770.90 million for the quarter, compared to the consensus estimate of $734.20 million. During the same period in the previous year, the business earned $0.68 EPS. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. Sell-side analysts expect that GMS Inc will post 2.71 earnings per share for the current fiscal year.
GMS Inc distributes wallboards, suspended ceilings systems, and related construction products in the United States and Canada. The company offers wallboard products; and 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.
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