GMS Inc (NYSE:GMS)’s share price dropped 4.2% during mid-day trading on Wednesday . The stock traded as low as $23.57 and last traded at $23.90, with a volume of 57,301 shares changing hands. The stock had previously closed at $24.95.

GMS has been the topic of several recent analyst reports. Credit Suisse Group AG reaffirmed a “buy” rating on shares of GMS in a report on Tuesday, June 28th. SunTrust Banks Inc. began coverage on shares of GMS in a research note on Monday, June 20th. They issued a “buy” rating and a $28.00 price target on the stock. Robert W. Baird began coverage on shares of GMS in a research note on Monday, June 20th. They issued a “neutral” rating and a $25.00 price target on the stock. Royal Bank Of Canada began coverage on shares of GMS in a research note on Monday, June 20th. They issued an “outperform” rating and a $27.00 price target on the stock. Finally, Raymond James Financial Inc. began coverage on shares of GMS in a research note 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 company. The company has an average rating of “Buy” and a consensus price target of $26.60.

The firm has a 50-day moving average of $24.33 and a 200-day moving average of $23.33. The firm has a market cap of $1.00 billion and a PE ratio of 64.39.

GMS (NYSE:GMS) last released its quarterly earnings results on Tuesday, July 12th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.36 by $0.17. The business earned $527.20 million during the quarter. The firm’s quarterly revenue was up 30.3% on a year-over-year basis. On average, analysts anticipate that GMS Inc will post $1.73 EPS for the current year.

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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