SunTrust Banks Increases GMS (GMS) Price Target to $45.00

GMS (NYSE:GMS) had its target price hoisted by SunTrust Banks to $45.00 in a report issued on Monday. The brokerage currently has a “buy” rating on the stock. SunTrust Banks’ price objective would indicate a potential upside of 19.84% from the company’s previous close. SunTrust Banks also issued estimates for GMS’s FY2018 earnings at $1.96 EPS, Q1 2019 earnings at $0.60 EPS, Q2 2019 earnings at $0.65 EPS, Q4 2019 earnings at $0.70 EPS and FY2019 earnings at $2.42 EPS.

A number of other brokerages also recently issued reports on GMS. Barclays set a $43.00 price objective on shares of GMS and gave the stock a “buy” rating in a research note on Friday, December 8th. Zacks Investment Research raised shares of GMS from a “sell” rating to a “hold” rating in a report on Monday, September 4th. Wells Fargo & Company started coverage on shares of GMS in a report on Wednesday, October 18th. They issued a “market perform” rating and a $38.00 target price for the company. Robert W. Baird reissued a “buy” rating and issued a $37.00 target price on shares of GMS in a report on Monday, October 9th. Finally, Royal Bank of Canada increased their target price on shares of GMS from $34.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, September 7th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $39.63.

GMS (GMS) opened at $37.55 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.62 and a quick ratio of 1.70. GMS has a one year low of $25.87 and a one year high of $39.98. The company has a market cap of $1,598.97, a PE ratio of 21.89, a P/E/G ratio of 2.80 and a beta of 3.20.

GMS (NYSE:GMS) last announced its quarterly earnings data on Thursday, December 7th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). The firm had revenue of $648.00 million for the quarter, compared to analyst estimates of $662.03 million. GMS had a return on equity of 14.24% and a net margin of 2.26%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.49 earnings per share. research analysts anticipate that GMS will post 1.99 EPS for the current fiscal year.

In other GMS news, CEO G Michael Callahan, Jr. sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $34.73, for a total transaction of $434,125.00. Following the completion of the transaction, the chief executive officer now owns 528,418 shares in the company, valued at approximately $18,351,957.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO H Douglas Goforth sold 102,282 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $37.57, for a total transaction of $3,842,734.74. Following the transaction, the chief financial officer now owns 82,563 shares of the company’s stock, valued at approximately $3,101,891.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,676 shares of company stock valued at $7,488,934. Company insiders own 5.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can grew its position in shares of GMS by 213.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 2,823 shares of the company’s stock worth $100,000 after buying an additional 1,923 shares during the period. Macquarie Group Ltd. acquired a new stake in shares of GMS during the 3rd quarter worth approximately $170,000. Victory Capital Management Inc. acquired a new stake in shares of GMS during the 3rd quarter worth approximately $182,000. Metropolitan Life Insurance Co. NY grew its position in shares of GMS by 386.4% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 5,190 shares of the company’s stock worth $182,000 after buying an additional 4,123 shares during the period. Finally, Legal & General Group Plc grew its position in shares of GMS by 403.2% during the 2nd quarter. Legal & General Group Plc now owns 5,621 shares of the company’s stock worth $160,000 after buying an additional 4,504 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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GMS Company Profile

GMS Inc is a distributor of wallboard and suspended ceilings systems, or ceilings. The Company provides a product offering of over 20,000 stock keeping units (SKUs) of wallboard, ceilings and complementary interior construction products for interior contractors. It offers steel framing and ancillary products for its customers.

Analyst Recommendations for GMS (NYSE:GMS)

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