Analysts Set GMS Inc. (NYSE:GMS) Target Price at $80.50

Shares of GMS Inc. (NYSE:GMS) have earned a consensus recommendation of “Hold” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $80.50.

Several analysts have commented on GMS shares. Loop Capital decreased their price target on shares of GMS from $93.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, March 10th. UBS Group set a $80.00 target price on shares of GMS in a research report on Friday, March 7th. Barclays lowered their target price on shares of GMS from $80.00 to $71.00 and set an “equal weight” rating for the company in a research note on Monday, March 10th. Truist Financial reduced their price target on GMS from $97.00 to $80.00 and set a “hold” rating on the stock in a research report on Friday, March 7th. Finally, Royal Bank of Canada decreased their price objective on GMS from $82.00 to $65.00 and set a “sector perform” rating for the company in a report on Friday, March 7th.

Insiders Place Their Bets

In related news, CEO John C. Turner, Jr. purchased 3,650 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was acquired at an average price of $70.00 per share, with a total value of $255,500.00. Following the completion of the acquisition, the chief executive officer now owns 66,928 shares in the company, valued at approximately $4,684,960. This represents a 5.77% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Theron I. Gilliam sold 12,474 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $73.46, for a total transaction of $916,340.04. Following the sale, the director now directly owns 31,507 shares in the company, valued at $2,314,504.22. This trade represents a 28.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On GMS

A number of institutional investors have recently bought and sold shares of GMS. AlphaQuest LLC boosted its holdings in shares of GMS by 1,710.5% in the 4th quarter. AlphaQuest LLC now owns 344 shares of the company’s stock valued at $29,000 after acquiring an additional 325 shares during the last quarter. Eukles Asset Management purchased a new position in shares of GMS during the 1st quarter valued at about $33,000. Canada Pension Plan Investment Board purchased a new position in shares of GMS during the 4th quarter valued at about $34,000. Brooklyn Investment Group acquired a new position in shares of GMS in the 1st quarter valued at about $47,000. Finally, Versant Capital Management Inc boosted its stake in shares of GMS by 170.5% in the first quarter. Versant Capital Management Inc now owns 706 shares of the company’s stock worth $52,000 after buying an additional 445 shares during the last quarter. 95.28% of the stock is owned by hedge funds and other institutional investors.

GMS Price Performance

Shares of GMS stock opened at $79.52 on Wednesday. The stock’s 50-day moving average is $73.92 and its 200 day moving average is $80.17. GMS has a 1-year low of $65.77 and a 1-year high of $105.54. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.23 and a quick ratio of 1.44. The company has a market cap of $3.05 billion, a P/E ratio of 14.62 and a beta of 1.62.

GMS Company Profile

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.