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

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Zacks Investment Research upgraded shares of GMS (NYSE:GMS) from a sell rating to a hold rating in a research note published on Wednesday.

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. “

Several other analysts have also issued reports on the company. ValuEngine lowered GMS from a sell rating to a strong sell rating in a report on Monday, February 4th. Northcoast Research upgraded GMS to a buy rating and set a $34.00 price objective for the company in a report on Thursday, December 20th. Nomura set a $29.00 price objective on GMS and gave the stock a buy rating in a report on Monday, December 17th. Barclays set a $21.00 price objective on GMS and gave the stock a buy rating in a report on Wednesday, December 12th. Finally, Robert W. Baird cut their price objective on GMS from $31.00 to $21.00 and set a neutral rating for the company in a report on Tuesday, December 11th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. GMS currently has a consensus rating of Buy and a consensus price target of $28.09.

Shares of NYSE:GMS opened at $18.83 on Wednesday. The company has a quick ratio of 1.78, a current ratio of 2.75 and a debt-to-equity ratio of 1.88. GMS has a 1 year low of $13.61 and a 1 year high of $34.25. The firm has a market cap of $795.22 million, a P/E ratio of 9.37, a PEG ratio of 0.90 and a beta of 2.40.

GMS (NYSE:GMS) last announced its quarterly earnings data on Tuesday, December 4th. The company reported $0.89 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.06). GMS had a return on equity of 17.36% and a net margin of 2.23%. The firm had revenue of $833.80 million for the quarter, compared to analysts’ expectations of $830.54 million. During the same quarter in the prior year, the business posted $0.51 earnings per share. GMS’s revenue was up 28.7% on a year-over-year basis. Analysts anticipate that GMS will post 3.08 earnings per share for the current year.

In related news, Director Ronald R. Ross bought 100,000 shares of the business’s stock in a transaction on Friday, December 14th. The shares were bought at an average cost of $15.66 per share, for a total transaction of $1,566,000.00. Following the completion of the acquisition, the director now directly owns 200,790 shares in the company, valued at $3,144,371.40. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 4.90% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of GMS. Victory Capital Management Inc. raised its holdings in GMS by 7,451.5% during the third quarter. Victory Capital Management Inc. now owns 760,440 shares of the company’s stock valued at $17,642,000 after buying an additional 750,370 shares in the last quarter. FMR LLC raised its holdings in GMS by 52.8% during the third quarter. FMR LLC now owns 1,733,701 shares of the company’s stock valued at $40,222,000 after buying an additional 599,001 shares in the last quarter. Marshall Wace LLP bought a new position in GMS during the third quarter valued at about $13,353,000. Peregrine Capital Management LLC bought a new position in GMS during the fourth quarter valued at about $7,729,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in GMS by 48.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,456,275 shares of the company’s stock valued at $33,786,000 after buying an additional 472,895 shares in the last quarter. Institutional investors own 77.81% of the company’s stock.

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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