GMS (NYSE:GMS) Upgraded by ValuEngine to “Sell”

GMS (NYSE:GMS) was upgraded by ValuEngine from a “strong sell” rating to a “sell” rating in a note issued to investors on Thursday, ValuEngine reports.

GMS has been the topic of several other reports. Zacks Investment Research cut shares of GMS from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Royal Bank of Canada set a $23.00 price target on shares of GMS and gave the company a “buy” rating in a report on Friday, June 28th. Nomura reaffirmed a “neutral” rating and issued a $20.00 price target (down from $27.00) on shares of GMS in a report on Thursday, May 16th. Finally, TheStreet raised shares of GMS from a “d+” rating to a “c-” rating in a report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $24.22.

GMS traded up $0.16 during trading on Thursday, hitting $23.84. The company had a trading volume of 419,100 shares, compared to its average volume of 540,538. The company has a market cap of $935.48 million, a PE ratio of 8.51, a P/E/G ratio of 1.09 and a beta of 2.40. The business has a 50-day moving average of $22.49 and a 200-day moving average of $19.19. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.24 and a quick ratio of 1.43. GMS has a 1-year low of $13.61 and a 1-year high of $28.47.

GMS (NYSE:GMS) last posted its quarterly earnings results on Thursday, June 27th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). The company had revenue of $780.10 million during the quarter, compared to analyst estimates of $784.40 million. GMS had a net margin of 1.80% and a return on equity of 18.94%. The company’s revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.56 earnings per share. Research analysts forecast that GMS will post 3.06 earnings per share for the current year.

In other GMS news, CEO G Michael Callahan, Jr. sold 28,950 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $22.61, for a total transaction of $654,559.50. Following the completion of the sale, the chief executive officer now owns 428,314 shares in the company, valued at $9,684,179.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.90% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in GMS. Royce & Associates LP bought a new position in shares of GMS during the first quarter worth about $36,000. Public Employees Retirement System of Ohio grew its position in shares of GMS by 17.1% during the second quarter. Public Employees Retirement System of Ohio now owns 3,174 shares of the company’s stock worth $70,000 after acquiring an additional 463 shares during the last quarter. Glen Harbor Capital Management LLC bought a new position in shares of GMS during the second quarter worth about $70,000. Bank of Montreal Can grew its position in shares of GMS by 419.9% during the second quarter. Bank of Montreal Can now owns 3,296 shares of the company’s stock worth $73,000 after acquiring an additional 2,662 shares during the last quarter. Finally, Riverhead Capital Management LLC bought a new position in shares of GMS during the second quarter worth about $77,000. Hedge funds and other institutional investors own 78.32% 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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Analyst Recommendations for GMS (NYSE:GMS)

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