Barclays Cuts GMS (NYSE:GMS) Price Target to $71.00

GMS (NYSE:GMS) had its price target lowered by equities research analysts at Barclays from $80.00 to $71.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential downside of 3.68% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Royal Bank of Canada reduced their price objective on GMS from $82.00 to $65.00 and set a “sector perform” rating for the company in a research note on Friday. Loop Capital increased their price target on GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, November 25th. Truist Financial cut their price objective on shares of GMS from $97.00 to $80.00 and set a “hold” rating on the stock in a report on Friday. DA Davidson lowered their target price on shares of GMS from $94.00 to $80.00 and set a “neutral” rating for the company in a report on Friday. Finally, Robert W. Baird cut their price target on shares of GMS from $110.00 to $93.00 and set an “outperform” rating on the stock in a research note on Friday. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $82.43.

GMS Stock Down 0.4 %

Shares of GMS stock opened at $73.71 on Monday. The company has a current ratio of 2.23, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The stock has a 50 day moving average of $82.32 and a 200 day moving average of $88.85. GMS has a twelve month low of $65.88 and a twelve month high of $105.54. The stock has a market cap of $2.86 billion, a P/E ratio of 13.49 and a beta of 1.73.

GMS (NYSE:GMS) last issued its quarterly earnings results on Thursday, March 6th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.47). The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.29 billion. GMS had a return on equity of 20.67% and a net margin of 3.92%. As a group, sell-side analysts expect that GMS will post 7.26 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC grew its holdings in shares of GMS by 1.8% during the third quarter. Janney Montgomery Scott LLC now owns 24,797 shares of the company’s stock worth $2,246,000 after buying an additional 428 shares during the last quarter. Meritage Portfolio Management lifted its position in GMS by 11.5% during the 3rd quarter. Meritage Portfolio Management now owns 4,747 shares of the company’s stock worth $430,000 after acquiring an additional 490 shares during the period. State of New Jersey Common Pension Fund D grew its stake in shares of GMS by 0.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 20,805 shares of the company’s stock valued at $1,884,000 after purchasing an additional 113 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of GMS in the third quarter valued at approximately $245,000. Finally, Victory Capital Management Inc. raised its stake in shares of GMS by 6.4% during the third quarter. Victory Capital Management Inc. now owns 101,541 shares of the company’s stock worth $9,197,000 after purchasing an additional 6,136 shares during the last quarter. 95.28% of the stock is currently owned by institutional investors and hedge funds.

About GMS

GMS Inc distributes wallboard, ceilings, steel framing and complementary construction products in the United States and Canada. The company offers 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.