GMS (GMS) Hits New 12-Month Low at $22.92

GMS Inc (NYSE:GMS)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $22.92 and last traded at $23.05, with a volume of 18070 shares trading hands. The stock had previously closed at $23.43.

GMS has been the subject of several research reports. TheStreet upgraded GMS from a “c” rating to a “b-” rating in a research report on Friday, May 25th. ValuEngine downgraded GMS from a “hold” rating to a “sell” rating in a research report on Saturday, June 2nd. Raymond James upgraded GMS from an “outperform” rating to a “strong-buy” rating and set a $26.00 target price for the company in a research report on Friday, June 29th. Barclays initiated coverage on GMS in a research report on Friday, June 29th. They issued an “overweight” rating and a $30.00 target price for the company. Finally, Royal Bank of Canada set a $36.00 target price on GMS and gave the company a “buy” rating in a research report on Friday, June 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. GMS presently has a consensus rating of “Buy” and a consensus price target of $36.55.

The company has a debt-to-equity ratio of 2.05, a current ratio of 3.08 and a quick ratio of 1.93. The stock has a market capitalization of $1.04 billion, a PE ratio of 11.73, a PEG ratio of 1.10 and a beta of 1.20.

GMS (NYSE:GMS) last issued its quarterly earnings data on Thursday, August 30th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.09. GMS had a return on equity of 15.18% and a net margin of 2.13%. The company had revenue of $778.10 million during the quarter, compared to the consensus estimate of $768.61 million. During the same period last year, the company earned $0.47 earnings per share. The firm’s revenue was up 21.2% compared to the same quarter last year. equities analysts forecast that GMS Inc will post 3.28 EPS for the current fiscal year.

In related news, Director J David Smith acquired 2,000 shares of the stock in a transaction dated Monday, July 2nd. The stock was bought at an average cost of $26.66 per share, for a total transaction of $53,320.00. Following the completion of the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at $106,640. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard Alan Adams acquired 3,000 shares of the stock in a transaction dated Wednesday, September 5th. The shares were bought at an average price of $24.14 per share, with a total value of $72,420.00. Following the completion of the transaction, the vice president now directly owns 175,000 shares of the company’s stock, valued at $4,224,500. The disclosure for this purchase can be found here. Insiders have bought 12,211 shares of company stock valued at $302,199 over the last 90 days. 4.90% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC increased its holdings in GMS by 67.8% in the first quarter. SG Americas Securities LLC now owns 5,745 shares of the company’s stock worth $176,000 after purchasing an additional 2,322 shares in the last quarter. Raymond James & Associates bought a new stake in GMS in the second quarter worth approximately $216,000. Xact Kapitalforvaltning AB bought a new stake in GMS in the first quarter worth approximately $233,000. Victory Capital Management Inc. increased its holdings in GMS by 54.2% in the first quarter. Victory Capital Management Inc. now owns 8,688 shares of the company’s stock worth $266,000 after purchasing an additional 3,055 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in GMS by 79.1% in the first quarter. BNP Paribas Arbitrage SA now owns 9,764 shares of the company’s stock worth $298,000 after purchasing an additional 4,313 shares in the last quarter. Institutional investors and hedge funds own 75.73% of the company’s stock.

About GMS (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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