Shares of GMS Inc. (NYSE:GMS) rose 5.3% on Wednesday . The company traded as high as $33.82 and last traded at $33.42. Approximately 1,108,077 shares were traded 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.

GMS has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of GMS from a “sell” rating to a “hold” rating in a research note on Monday. ValuEngine raised shares of GMS from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $38.00 price target on shares of GMS in a research note on Monday, June 19th. Northcoast Research raised shares of GMS from a “neutral” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Monday, July 3rd. Finally, Stephens reduced their price target on shares of GMS from $40.00 to $36.00 and set an “overweight” rating for the company in a research note on Monday, July 3rd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. GMS has a consensus rating of “Buy” and an average price target of $36.33.

The company’s 50 day moving average is $30.15 and its 200-day moving average is $32.10. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 28.99 and a beta of 3.31.

GMS (NYSE:GMS) last posted its quarterly earnings data on Wednesday, September 6th. The company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The firm had revenue of $642.20 million during the quarter, compared to analysts’ expectations of $645.19 million. GMS had a net margin of 2.28% and a return on equity of 14.33%. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS. On average, equities research analysts predict that GMS Inc. will post $1.99 EPS for the current year.

Large investors have recently modified their holdings of the company. American International Group Inc. grew its position in shares of GMS by 7.0% during the 1st quarter. American International Group Inc. now owns 4,377 shares of the company’s stock worth $153,000 after buying an additional 288 shares during the period. Metropolitan Life Insurance Co. NY grew its position in shares of GMS by 386.4% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 5,190 shares of the company’s stock worth $182,000 after buying an additional 4,123 shares during the period. Legal & General Group Plc grew its position in shares of GMS by 403.2% during the 2nd quarter. Legal & General Group Plc now owns 5,621 shares of the company’s stock worth $160,000 after buying an additional 4,504 shares during the period. Alambic Investment Management L.P. acquired a new stake in shares of GMS during the 1st quarter worth approximately $203,000. Finally, TFS Capital LLC acquired a new stake in shares of GMS during the 1st quarter worth approximately $221,000. Institutional investors own 55.51% of the company’s stock.

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About GMS

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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