Comerica Bank cut its holdings in GMS Inc. (NYSE:GMS) by 3.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,201 shares of the company’s stock after selling 1,625 shares during the period. Comerica Bank’s holdings in GMS were worth $1,906,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of GMS in the 4th quarter worth $2,783,000. Sei Investments Co. increased its position in GMS by 69.4% in the third quarter. Sei Investments Co. now owns 51,386 shares of the company’s stock worth $1,251,000 after buying an additional 21,044 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of GMS in the first quarter worth about $294,000. Prudent Man Advisors LLC purchased a new position in shares of GMS during the 4th quarter valued at about $209,000. Finally, Credit Suisse AG grew its stake in shares of GMS by 24.2% during the 4th quarter. Credit Suisse AG now owns 70,973 shares of the company’s stock valued at $2,164,000 after acquiring an additional 13,813 shares during the period. Institutional investors and hedge funds own 93.86% of the company’s stock.
Several equities analysts have weighed in on GMS shares. Truist Securities lifted their price target on shares of GMS from $42.00 to $52.00 and gave the company a “buy” rating in a report on Monday. Royal Bank of Canada lifted their target price on shares of GMS from $37.00 to $50.00 and gave the company a “sector perform” rating in a research note on Tuesday. Barclays increased their price target on GMS from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Friday, March 5th. Robert W. Baird boosted their price objective on GMS from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, April 19th. Finally, Truist increased their target price on GMS from $42.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $39.60.
In other GMS news, major shareholder Coliseum Capital Management, L acquired 46,210 shares of the stock in a transaction on Thursday, April 15th. The stock was acquired at an average price of $44.03 per share, for a total transaction of $2,034,626.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Theron I. Gilliam sold 10,000 shares of GMS stock in a transaction on Wednesday, March 10th. The stock was sold at an average price of $41.51, for a total transaction of $415,100.00. Following the completion of the transaction, the director now directly owns 8,895 shares of the company’s stock, valued at $369,231.45. The disclosure for this sale can be found here. Over the last three months, insiders purchased 321,010 shares of company stock valued at $12,690,962. 1.90% of the stock is currently owned by insiders.
Shares of GMS stock opened at $44.81 on Thursday. The company has a current ratio of 2.32, a quick ratio of 1.52 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 80.02 and a beta of 2.09. GMS Inc. has a 12-month low of $18.76 and a 12-month high of $47.11. The stock’s 50-day moving average price is $44.08 and its 200-day moving average price is $35.60.
GMS (NYSE:GMS) last released its quarterly earnings results on Wednesday, March 3rd. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.09. The business had revenue of $751.20 million during the quarter, compared to analysts’ expectations of $728.42 million. GMS had a return on equity of 18.50% and a net margin of 0.80%. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS. As a group, research analysts predict that GMS Inc. will post 2.95 EPS for the current fiscal year.
About GMS
GMS Inc distributes wallboards, suspended ceilings systems, and complementary building 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.
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