GMS’s (GMS) Buy Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reissued their buy rating on shares of GMS Inc. (NYSE:GMS) in a research report report published on Tuesday. They currently have a $39.00 price objective on the stock.

GMS has been the subject of a number of other reports. Zacks Investment Research cut shares of GMS from a hold rating to a sell rating in a research report on Monday, July 3rd. Stephens lowered their price target on shares of GMS from $40.00 to $36.00 and set an overweight rating for the company in a research report on Monday, July 3rd. Northcoast Research raised shares of GMS from a neutral rating to a buy rating and set a $34.00 price target for the company in a research report on Monday, July 3rd. Finally, Robert W. Baird reissued a buy rating and set a $37.00 price target on shares of GMS in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $36.60.

GMS (NYSE:GMS) last issued its quarterly earnings results on Wednesday, September 6th. The company reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. GMS had a net margin of 2.28% and a return on equity of 14.13%. The company had revenue of $642.20 million during the quarter, compared to analysts’ expectations of $645.19 million. During the same period last year, the company posted $0.46 EPS. GMS’s revenue was up 16.8% on a year-over-year basis.

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In other GMS news, insider Lynn Ross sold 1,894 shares of GMS stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $34.77, for a total value of $65,854.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO G Michael Callahan, Jr. sold 12,500 shares of GMS stock in a transaction dated Friday, September 22nd. The stock was 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 directly owns 528,418 shares of the company’s stock, valued at $18,351,957.14. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the business. American International Group Inc. raised its holdings in GMS by 7.0% in the first quarter. American International Group Inc. now owns 4,377 shares of the company’s stock worth $153,000 after buying an additional 288 shares during the last quarter. Bank of America Corp DE raised its holdings in GMS by 0.3% in the first quarter. Bank of America Corp DE now owns 161,291 shares of the company’s stock worth $5,651,000 after buying an additional 489 shares during the last quarter. Sei Investments Co. raised its holdings in GMS by 7.1% in the second quarter. Sei Investments Co. now owns 15,073 shares of the company’s stock worth $424,000 after buying an additional 1,005 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in GMS by 0.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 376,000 shares of the company’s stock worth $10,565,000 after buying an additional 1,325 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in GMS by 9.0% in the first quarter. Goldman Sachs Group Inc. now owns 29,614 shares of the company’s stock worth $1,038,000 after buying an additional 2,436 shares during the last quarter. 55.51% of the stock is owned by institutional investors and hedge funds.

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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