GMS Inc (NYSE:GMS) dropped 2.8% during mid-day trading on Thursday . The stock traded as low as $24.10 and last traded at $24.33, with a volume of 59,850 shares changing hands. The stock had previously closed at $25.04.

GMS has been the subject of several research reports. Royal Bank Of Canada initiated coverage on shares of GMS in a research report on Monday, June 20th. They issued an “outperform” rating and a $27.00 price objective for the company. Stephens initiated coverage on shares of GMS in a research report on Monday, June 20th. They issued an “overweight” rating for the company. SunTrust Banks Inc. initiated coverage on shares of GMS in a research report on Monday, June 20th. They issued a “buy” rating and a $28.00 price objective for the company. Credit Suisse Group AG initiated coverage on shares of GMS in a research report on Monday, June 20th. They issued an “outperform” rating and a $26.00 price objective for the company. Finally, Raymond James Financial Inc. initiated coverage on shares of GMS in a research report on Monday, June 20th. They issued an “outperform” rating and a $26.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $26.60.

The firm has a market capitalization of $1.00 billion and a PE ratio of 64.47. The firm has a 50 day moving average of $0.00 and a 200 day moving average of $0.00.

GMS (NYSE:GMS) last posted its quarterly earnings results on Tuesday, July 12th. The company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.17. The business earned $527.20 million during the quarter. The company’s quarterly revenue was up 30.3% compared to the same quarter last year. Equities analysts expect that GMS Inc will post $1.73 earnings per share for the current fiscal year.

In other news, Director Theron I. Gilliam acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The stock was purchased at an average cost of $21.00 per share, for a total transaction of $210,000.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $210,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Craig D. Apolinsky acquired 4,700 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The shares were purchased at an average price of $21.00 per share, with a total value of $98,700.00. Following the completion of the transaction, the vice president now owns 4,700 shares of the company’s stock, valued at approximately $98,700. The disclosure for this purchase can be found here.

GMS Inc is a distributor of wallboard and suspended ceilings systems. The Company’s seven segments include Central, Northeast, Southern, Southeast, Southwest and Western, Tool Source Warehouse, Inc and other. It offers wallboard, which is used in building products for interior and exterior walls, and ceilings in residential and commercial structures.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.