In a report published on Thursday, the research rating went from strong-buy to buy.
Barclays also raised their price target for shares of GMS in a Monday, 6th March research report from $60.00 up to $67.00. The stock was given an equal weight rating. Four analysts gave the stock a hold and three gave it a buy rating. The stock opened at $67.83 Thursday. The stock's market capitalization is $2.80 billion. It has a P/E of 8.69, and a beta value of 1.85. The company has a debt to equity ratio of 0.82, a debt ratio of 1.58 and a quick/current ratio of 1.58. The company's 50-day moving average is $62.49, and its 200-day moving average is $58.01. GMS's 12-month low is $38.31, and its 12-month high is $69.96.
The last time the company released its quarterly earnings was on Thursday, 22nd June. The company posted $2.11 per share in earnings for the quarter. This beat the consensus estimate by $0.21. Revenue for the quarter was $1.30 billion, which is higher than analysts' expectations of $1.2 billion. GMS's net margin was 6.25%, and its return on equity was 32.45%. Revenue for the company increased by 1.2% over the same period last year. In the same quarter of last year, GMS posted $2.09 in earnings per share. Analysts expect GMS to post 6,99 earnings per share in the current fiscal.
GMS Insiders Buying and selling
George T. Hendren, the COO of GMS, sold 800 shares in a transaction on May 10th. The shares were purchased at an average of $60.00 for a value of $48,000.00. The chief operating officer owns now 23,437 shares worth $1,406,220. On Wednesday, 10th May, George T. Hendren, the COO of the company, sold 800 shares in an exchange. The shares were sold for an average of $60.00 and had a value of $48,000.00. The chief operating officer owns now 23,437 shares worth $1,406,220. Coliseum Capital Management L, a major shareholder, sold 80,071 of the company's shares in a deal on Wednesday, 14th June. Stock was sold for $5,355,949.19 at a price of $66.69. After the sale is complete, the insider owns directly 5,911,892 company shares, worth approximately $395.446,455.88. Insiders sold 1,082,084 company shares valued at $71,920.348 over the past quarter. Corporate insiders own 1.60%.
Hedge Funds weigh in on GMS
A number of institutional investors and hedge fund managers have modified their stock holdings in recent months. BlackRock Inc. increased their holdings of GMS shares by 2.4% during the third quarter. BlackRock Inc. owns 6,909372 shares worth $276,444,000, after buying 163,593 additional shares in the last quarter. Coliseum Capital Management LLC increased its holdings in GMS during the third quarter by 3.3%. Coliseum Capital Management LLC owns 6,336,573 of the company’s stock, worth $253,526,000. This is after buying an additional 205,000 during the period. Vanguard Group Inc. increased its holdings of GMS shares by 3.0% during the third quarter. Vanguard Group Inc. owns 5,242,989 of the company’s stock, worth $209 773,000, after adding 154,926 additional shares in the last quarter. Dimensional Fund Advisors LP increased its holdings of GMS shares by 1.6% during the first quarter. Dimensional Fund Advisors LP owns 2,552,203 of the company stock, worth $147.743,000, after acquiring 40,521 additional shares in the last quarter. American Century Companies Inc. increased its holdings of GMS shares by 10.5% during the first quarter. American Century Companies Inc. owns 1,903,763 of the company’s stock, worth $110,000,000 after purchasing an additional 181,514 during the last quarter. Institutional investors and hedge fund currently own 99.57%.
GMS Inc. distributes steel framing, wallboard, soft fibers and metal ceiling systems in the United States, Canada and Mexico. The company provides ceilings systems, such as suspended mineral fibers and soft fibers. These ceiling systems are used in commercial and institutional building, offices, hospitals, schools, retail outlets, hotels and other institutions.
MarketBeat.com offers a FREE daily email newsletter