GMS Inc (GMS) Sees Strong Trading Volume
Shares of GMS Inc (NYSE:GMS) saw an uptick in trading volume on Monday . 209,884 shares were traded during trading, an increase of 113% from the previous session’s volume of 98,435 shares.The stock last traded at $24.00 and had previously closed at $24.11.
A number of brokerages have weighed in on GMS. Royal Bank Of Canada increased their target price on shares of GMS from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 13th. Credit Suisse Group AG reissued a “buy” rating on shares of GMS in a report on Tuesday, June 28th. Stephens started coverage on shares of GMS in a report on Monday, June 20th. They issued an “overweight” rating on the stock. SunTrust Banks Inc. started coverage on shares of GMS in a report on Monday, June 20th. They issued a “buy” rating and a $28.00 price target on the stock. Finally, Raymond James Financial Inc. started coverage on shares of GMS in a report on Monday, June 20th. They issued an “outperform” rating and a $26.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $26.60.
The company has a market cap of $989.57 million and a price-to-earnings ratio of 63.61. The firm’s 50 day moving average price is $24.28 and its 200 day moving average price is $23.30.
GMS (NYSE:GMS) last announced its quarterly earnings data on Tuesday, July 12th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.17. The company had revenue of $527.20 million for the quarter. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. On average, analysts anticipate that GMS Inc will post $1.73 EPS for the current fiscal year.
In related 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 bought at an average cost of $21.00 per share, for a total transaction of $210,000.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $210,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 bought at an average price of $21.00 per share, with a total value of $98,700.00. Following the completion of the purchase, the vice president now owns 4,700 shares in the company, 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.
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