GMS (GMS) Rating Lowered to Hold at Zacks Investment Research

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Zacks Investment Research downgraded shares of GMS (NYSE:GMS) from a buy rating to a hold rating in a research report sent to investors on Monday.

According to Zacks, “GMS Inc. is a distributor of wallboard and suspended ceilings systems. The company’s product consists of wallboard, suspended ceilings systems or ceilings and complementary interior construction products in commercial and residential buildings. GMS Inc. is based in Tucker, United States. “

GMS has been the subject of a number of other research reports. Robert W. Baird cut shares of GMS from an outperform rating to a neutral rating and set a $36.00 price target for the company. in a research note on Tuesday, July 3rd. ValuEngine upgraded shares of GMS from a sell rating to a hold rating in a research note on Thursday, June 21st. Nomura raised their price target on shares of GMS from $36.00 to $37.00 and gave the stock a buy rating in a research note on Friday, August 31st. Raymond James upgraded shares of GMS from an outperform rating to a strong-buy rating and set a $26.00 price target for the company in a research note on Friday, June 29th. Finally, TheStreet upgraded shares of GMS from a c rating to a b- rating in a research note on Friday, May 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $36.55.

NYSE GMS opened at $24.19 on Monday. The company has a debt-to-equity ratio of 2.05, a current ratio of 3.08 and a quick ratio of 1.93. GMS has a twelve month low of $23.50 and a twelve month high of $39.98. The stock has a market capitalization of $1.02 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.06 and a beta of 1.23.

GMS (NYSE:GMS) last announced its quarterly earnings results on Thursday, August 30th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.09. The firm had revenue of $778.10 million during the quarter, compared to analysts’ expectations of $768.61 million. GMS had a net margin of 2.13% and a return on equity of 15.18%. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 earnings per share. sell-side analysts anticipate that GMS will post 3.34 earnings per share for the current year.

In other news, insider G Michael Callahan, Jr. sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, June 22nd. The shares were sold at an average price of $31.13, for a total transaction of $389,125.00. Following the completion of the sale, the insider now owns 428,314 shares of the company’s stock, valued at $13,333,414.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Craig D. Apolinsky acquired 1,000 shares of the company’s stock in a transaction dated Friday, July 6th. The shares were purchased at an average cost of $26.32 per share, with a total value of $26,320.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 8,061 shares of company stock valued at $202,060. Company insiders own 4.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers increased its holdings in shares of GMS by 20.0% in the first quarter. Rhumbline Advisers now owns 29,626 shares of the company’s stock valued at $905,000 after purchasing an additional 4,933 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of GMS by 67.8% in the first quarter. SG Americas Securities LLC now owns 5,745 shares of the company’s stock valued at $176,000 after purchasing an additional 2,322 shares in the last quarter. Trexquant Investment LP increased its holdings in shares of GMS by 83.1% in the first quarter. Trexquant Investment LP now owns 21,312 shares of the company’s stock valued at $651,000 after purchasing an additional 9,671 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of GMS by 54.2% in the first quarter. Victory Capital Management Inc. now owns 8,688 shares of the company’s stock valued at $266,000 after purchasing an additional 3,055 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of GMS by 5.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 978,705 shares of the company’s stock valued at $29,909,000 after purchasing an additional 53,310 shares in the last quarter. 75.86% of the stock is owned by institutional investors.

GMS Company Profile

GMS Inc distributes wallboards, suspended ceilings systems, and related construction products in the United States and Canada. The company offers wallboard products; and ceilings products, including suspended mineral fibers, soft fibers, and metal ceiling systems primarily used in offices, hotels, hospitals, retail facilities, schools, and various other commercial and institutional buildings.

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