GMS (GMS) Rating Lowered to Hold at Zacks Investment Research

GMS (NYSE:GMS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “GMS Inc. is a distributor of wallboard and suspended ceilings systems. The company’s product consists of wallboard, suspended ceilings systems or ceilings and complementary interior construction products in commercial and residential buildings. GMS Inc. is based in Tucker, United States. “

Other analysts have also issued reports about the company. Instinet began coverage on GMS in a research note on Tuesday, March 13th. They set a “buy” rating and a $40.00 price target on the stock. Nomura assumed coverage on GMS in a research note on Tuesday, March 13th. They set a “buy” rating and a $40.00 price target on the stock. Northcoast Research set a $41.00 price objective on GMS and gave the stock a “buy” rating in a research report on Wednesday, March 7th. Seaport Global Securities upgraded GMS from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Wednesday, March 7th. They noted that the move was a valuation call. Finally, SunTrust Banks restated a “buy” rating and set a $40.00 price objective on shares of GMS in a research report on Tuesday, March 6th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $38.73.

Shares of GMS stock opened at $29.35 on Tuesday. GMS has a 12 month low of $28.96 and a 12 month high of $29.60. The stock has a market cap of $1.22 billion, a PE ratio of 17.26, a PEG ratio of 1.52 and a beta of 1.55. The company has a current ratio of 2.91, a quick ratio of 1.80 and a debt-to-equity ratio of 1.02.

GMS (NYSE:GMS) last announced its quarterly earnings results on Tuesday, March 6th. The company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.22). GMS had a net margin of 2.70% and a return on equity of 12.75%. The firm had revenue of $585.60 million for the quarter, compared to analyst estimates of $602.08 million. During the same period in the previous year, the business posted $0.32 earnings per share. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. equities analysts predict that GMS will post 2.02 EPS for the current year.

In other GMS news, insider G Michael Callahan, Jr. sold 12,500 shares of GMS stock in a transaction that occurred on Thursday, March 22nd. The stock was sold at an average price of $31.87, for a total value of $398,375.00. Following the completion of the sale, the insider now directly owns 428,419 shares in the company, valued at $13,653,713.53. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider G Michael Callahan, Jr. sold 33,333 shares of GMS stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $33.65, for a total value of $1,121,655.45. Following the completion of the sale, the insider now owns 428,419 shares of the company’s stock, valued at $14,416,299.35. The disclosure for this sale can be found here. Insiders have sold 70,938 shares of company stock valued at $2,316,140 over the last 90 days. 5.90% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in GMS in the fourth quarter worth approximately $129,000. Two Sigma Securities LLC bought a new stake in GMS in the fourth quarter worth approximately $225,000. California Public Employees Retirement System bought a new stake in GMS in the third quarter worth approximately $234,000. 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, Paloma Partners Management Co increased its holdings in GMS by 42.1% in the fourth quarter. Paloma Partners Management Co now owns 8,719 shares of the company’s stock worth $328,000 after purchasing an additional 2,583 shares in the last quarter. Institutional investors and hedge funds own 71.17% of the company’s stock.

GMS Company Profile

GMS Inc distributes wallboards, suspended ceilings systems, and complementary interior construction products in North America. The company offers wallboard products; and ceilings products, such as suspended mineral fibers, soft fibers, and metal ceiling systems primarily used in offices, hotels, hospitals, retail facilities, schools, and other commercial and institutional buildings.

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