SunTrust Banks, Inc. Reaffirms Buy Rating for GMS Inc. (GMS)
Other equities research analysts have also recently issued reports about the company. Robert W. Baird reaffirmed a buy rating and set a $37.00 price target on shares of GMS in a report on Monday, October 9th. Wells Fargo & Company assumed coverage on GMS in a research note on Wednesday, October 18th. They issued a market perform rating and a $38.00 target price for the company. Royal Bank Of Canada reissued a buy rating and issued a $39.00 target price on shares of GMS in a research note on Tuesday, October 10th. Finally, Zacks Investment Research raised GMS from a sell rating to a hold rating in a research note on Monday, September 4th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $37.38.
Shares of GMS (GMS) opened at $34.21 on Friday. GMS has a twelve month low of $23.36 and a twelve month high of $36.99. The firm has a market capitalization of $1,401.62, a price-to-earnings ratio of 19.77, a P/E/G ratio of 2.43 and a beta of 3.14. The company has a current ratio of 2.80, a quick ratio of 1.82 and a debt-to-equity ratio of 1.11.
GMS (NYSE:GMS) last released its quarterly earnings results on Wednesday, September 6th. The company reported $0.47 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.47. GMS had a return on equity of 14.13% and a net margin of 2.28%. The firm had revenue of $642.20 million during the quarter, compared to analysts’ expectations of $645.19 million. During the same period last year, the firm posted $0.46 EPS. The business’s revenue was up 16.8% on a year-over-year basis. equities analysts anticipate that GMS will post 2.01 earnings per share for the current fiscal year.
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In other news, insider Lynn Ross sold 1,894 shares of GMS stock in a transaction on Monday, September 25th. The stock was sold at an average price of $34.77, for a total value of $65,854.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO G Michael Callahan, Jr. sold 12,500 shares of GMS stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $34.52, for a total value of $431,500.00. Following the completion of the sale, the chief executive officer now directly owns 528,418 shares of the company’s stock, valued at $18,240,989.36. The disclosure for this sale can be found here. Insiders sold a total of 26,894 shares of company stock valued at $931,479 over the last three months. Insiders own 5.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in GMS. Vanguard Group Inc. grew its stake in shares of GMS by 71.6% during the first quarter. Vanguard Group Inc. now owns 1,973,231 shares of the company’s stock worth $69,142,000 after purchasing an additional 822,997 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of GMS by 1,659.1% during the second quarter. The Manufacturers Life Insurance Company now owns 827,403 shares of the company’s stock worth $23,250,000 after purchasing an additional 780,368 shares during the period. FMR LLC acquired a new stake in shares of GMS during the first quarter worth $20,972,000. Koch Industries Inc. acquired a new stake in shares of GMS during the second quarter worth $324,000. Finally, Wells Fargo & Company MN grew its stake in shares of GMS by 43.4% during the second quarter. Wells Fargo & Company MN now owns 960,661 shares of the company’s stock worth $26,994,000 after purchasing an additional 290,711 shares during the period. 56.16% of the stock is owned by institutional investors and hedge funds.
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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