GMS (NYSE:GMS) Shares Up 5.2%

Shares of GMS Inc (NYSE:GMS) shot up 5.2% during mid-day trading on Thursday . The stock traded as high as $19.76 and last traded at $19.70. 1,286,233 shares were traded during trading, an increase of 123% from the average session volume of 576,690 shares. The stock had previously closed at $18.73.

Several brokerages have recently issued reports on GMS. Royal Bank of Canada set a $23.00 price objective on shares of GMS and gave the stock a “buy” rating in a research report on Friday. Zacks Investment Research raised shares of GMS from a “sell” rating to a “hold” rating in a research report on Tuesday, May 28th. Nomura reissued a “neutral” rating and set a $20.00 price objective (down previously from $27.00) on shares of GMS in a research report on Thursday, May 16th. Finally, TheStreet raised shares of GMS from a “d+” rating to a “c-” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $24.22.

The firm has a market capitalization of $795.38 million, a price-to-earnings ratio of 7.86, a P/E/G ratio of 0.90 and a beta of 2.16. The business’s 50-day simple moving average is $18.34. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.76 and a current ratio of 2.85.

GMS (NYSE:GMS) last released its earnings results on Thursday, June 27th. The company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The business had revenue of $780.10 million during the quarter, compared to the consensus estimate of $784.40 million. GMS had a net margin of 1.80% and a return on equity of 18.93%. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period last year, the business posted $0.56 EPS. Sell-side analysts expect that GMS Inc will post 3.13 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio lifted its stake in GMS by 69.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,735 shares of the company’s stock valued at $26,000 after acquiring an additional 714 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new stake in GMS in the fourth quarter valued at $32,000. Royce & Associates LP acquired a new stake in GMS in the first quarter valued at $36,000. Quantamental Technologies LLC acquired a new stake in GMS in the first quarter valued at $110,000. Finally, Metropolitan Life Insurance Co. NY lifted its stake in GMS by 373.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,495 shares of the company’s stock valued at $156,000 after acquiring an additional 8,277 shares during the last quarter. 71.46% of the stock is owned by institutional investors and hedge funds.

GMS Company Profile (NYSE:GMS)

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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