Zacks Investment Research Downgrades GMS Inc. (GMS) to Sell

Zacks Investment Research downgraded shares of GMS Inc. (NYSE:GMS) from a hold rating to a sell rating in a report published on Monday, July 3rd.

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. “

GMS has been the subject of several other reports. Seaport Global Securities assumed coverage on shares of GMS in a research report on Thursday, March 16th. They issued a neutral rating for the company. Barclays PLC reaffirmed an overweight rating and issued a $37.00 target price (up from $36.00) on shares of GMS in a research report on Saturday, March 11th. Royal Bank Of Canada reaffirmed a buy rating and issued a $38.00 target price (up from $32.00) on shares of GMS in a research report on Monday, March 6th. 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. Finally, 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $36.17.

Shares of GMS (NYSE:GMS) opened at 29.08 on Monday. The firm has a 50-day moving average of $30.45 and a 200 day moving average of $31.95. The company has a market capitalization of $1.19 billion, a P/E ratio of 24.44 and a beta of 3.54. GMS has a 1-year low of $20.23 and a 1-year high of $36.99.

GMS (NYSE:GMS) last posted its earnings results on Thursday, June 29th. The company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. GMS had a net margin of 2.11% and a return on equity of 14.15%. The firm had revenue of $615 million during the quarter, compared to analysts’ expectations of $614.93 million. During the same period last year, the company posted $0.53 EPS. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts expect that GMS will post $1.99 earnings per share for the current year.

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In related news, SVP Richard Alan Adams sold 83,950 shares of GMS stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $31.68, for a total transaction of $2,659,536.00. Following the completion of the transaction, the senior vice president now directly owns 170,000 shares of the company’s stock, valued at approximately $5,385,600. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Richard K. Mueller sold 1,000,000 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $31.68, for a total transaction of $31,680,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,986,079 shares of company stock valued at $126,278,983.

A number of hedge funds have recently added to or reduced their stakes in GMS. American International Group Inc. raised its stake 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 in the last quarter. Bank of America Corp DE raised its stake 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 in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake 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 in the last quarter. Coe Capital Management LLC raised its stake in GMS by 5.5% in the first quarter. Coe Capital Management LLC now owns 27,540 shares of the company’s stock worth $965,000 after buying an additional 1,435 shares in the last quarter. Finally, GSA Capital Partners LLP raised its stake in GMS by 9.6% in the fourth quarter. GSA Capital Partners LLP now owns 16,573 shares of the company’s stock worth $485,000 after buying an additional 1,453 shares in the last quarter. Institutional investors and hedge funds own 41.13% of the company’s stock.

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.

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