GMS Target Price Adjustment by DA Davidson

GMS (NYSE:GMS) has had its price target adjusted by DA Davidson, a research firm, which has lowered the target from $94.00 to $80.00. This change was disclosed in a note sent to investors on Friday. Along with this adjustment, DA Davidson has assigned a "neutral" rating to the stock. The new price target implies a potential upside of approximately 7.86% from the current trading price of GMS.

Several other analysts have also recently reviewed GMS. Truist Financial has reduced its price target from $97.00 to $80.00, maintaining a "hold" rating. Meanwhile, Robert W. Baird lowered their target from $110.00 to $93.00, giving the company an "outperform" rating. Loop Capital has raised its price target from $85.00 to $93.00 and continues to recommend the stock as a "hold." In addition, Royal Bank of Canada has made a significant cut, reducing their price target from $82.00 to $65.00 and assigning a "sector perform" rating. Barclays also decreased their target on GMS from $93.00 to $80.00 with an "equal weight" rating.

From a broader perspective, the consensus from six research analysts indicates a majority hold rating, with an average target price set at $83.71 according to data from MarketBeat.com.

Recent Stock Performance

During trading on Friday, GMS shares increased by 1.7%, reaching a price of $74.17. The trading volume was notably high, with 867,938 shares exchanged, significantly exceeding the average volume of 408,144 shares. The company's fifty-day and 200-day moving averages stand at $82.53 and $89.02, respectively. GMS has seen a one-year low of $65.88 and a high of $105.54. Currently, its market capitalization is approximately $2.88 billion, with a price-to-earnings ratio of 13.63 and a beta of 1.73. The debt-to-equity ratio is recorded at 0.97, alongside a quick ratio of 1.44 and a current ratio of 2.23.

In its most recent earnings report, GMS posted quarterly figures that fell below analysts' expectations. The company reported earnings per share (EPS) of $0.92, which was less than the anticipated $1.39. The net profit margin for GMS is 3.92%, and the return on equity stands at 20.67%, with revenues totaling $1.26 billion for the quarter, slightly below the estimated $1.29 billion. Analysts forecast an EPS of 7.26 for the current fiscal year.

Institutional Investor Activities

There have been various updates regarding institutional investors and hedge funds altering their stakes in GMS. For instance, State of New Jersey Common Pension Fund D recently increased its holdings in GMS by 0.5%, acquiring a total of 20,805 shares. Summit Investment Advisors Inc. raised its holdings by 3.3%, bringing its total to 4,130 shares. Other investors, including Inspire Investing LLC and Rockefeller Capital Management, have also made minor increases to their stakes. Overall, institutional ownership in GMS is approximately 95.28% among various investors.

Company Overview

GMS Inc. is involved in the distribution of wallboard, ceilings, steel framing, and other complementary construction materials across the United States and Canada. The company’s product offerings include various ceiling systems, such as suspended mineral fibers, soft fibers, and metal ceiling products typically used in a range of commercial and institutional buildings.

GMS, price, target