Shares of GMS Inc. (NYSE:GMS) were up 5.3% on Wednesday . The company traded as high as $33.82 and last traded at $33.42. Approximately 1,108,077 shares traded hands during mid-day trading, an increase of 146% from the average daily volume of 450,152 shares. The stock had previously closed at $31.73.

A number of analysts recently weighed in on GMS shares. Zacks Investment Research raised shares of GMS from a “sell” rating to a “hold” rating in a report on Monday. ValuEngine raised shares of GMS from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $38.00 target price on shares of GMS in a report on Monday, June 19th. Northcoast Research raised shares of GMS from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a report on Monday, July 3rd. Finally, Stephens lowered their target price on shares of GMS from $40.00 to $36.00 and set an “overweight” rating for the company in a report on Monday, July 3rd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $36.17.

The company has a 50 day moving average price of $29.93 and a 200-day moving average price of $32.07. The firm has a market capitalization of $1.37 billion, a PE ratio of 28.08 and a beta of 3.31.

GMS (NYSE:GMS) last announced its quarterly earnings results on Wednesday, September 6th. The company reported $0.47 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.47. GMS had a net margin of 2.11% and a return on equity of 14.15%. The firm had revenue of $642.20 million during the quarter, compared to analysts’ expectations of $645.19 million. During the same period in the prior year, the company posted $0.46 EPS. The company’s revenue was up 16.8% on a year-over-year basis. On average, equities research analysts forecast that GMS Inc. will post $1.99 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in GMS in the 1st quarter valued at approximately $7,656,000. Bank of America Corp DE increased its position in GMS by 0.3% in the 1st quarter. Bank of America Corp DE now owns 161,291 shares of the company’s stock valued at $5,651,000 after acquiring an additional 489 shares during the period. JPMorgan Chase & Co. increased its position in GMS by 415.8% in the 1st quarter. JPMorgan Chase & Co. now owns 44,811 shares of the company’s stock valued at $1,570,000 after acquiring an additional 36,124 shares during the period. TFS Capital LLC acquired a new position in GMS in the 1st quarter valued at approximately $221,000. Finally, Bank of New York Mellon Corp increased its position in GMS by 49.4% in the 1st quarter. Bank of New York Mellon Corp now owns 45,055 shares of the company’s stock valued at $1,578,000 after acquiring an additional 14,893 shares during the period. Hedge funds and other institutional investors own 55.51% of the company’s stock.

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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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