Other equities research analysts have also recently issued research reports about the stock. Nomura began coverage on shares of GMS in a research report on Tuesday. They issued a buy rating and a $40.00 target price for the company. Northcoast Research set a $41.00 price objective on shares of GMS and gave the stock a buy rating in a research report on Wednesday, March 7th. Royal Bank of Canada set a $38.00 price objective on shares of GMS and gave the stock a buy rating in a research report on Wednesday, March 7th. Barclays reaffirmed a buy rating and set a $42.00 price objective on shares of GMS in a research report on Wednesday, March 7th. Finally, Seaport Global Securities raised shares of 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. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $39.09.
GMS (NYSE:GMS) opened at $33.91 on Tuesday. GMS has a fifty-two week low of $27.20 and a fifty-two week high of $39.98. The company has a market cap of $1,372.89, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 2.39 and a beta of 1.70. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.91 and a quick ratio of 1.80.
In other news, insider G Michael Callahan, Jr. sold 33,333 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $33.65, for a total value of $1,121,655.45. Following the completion of the transaction, the insider now owns 428,419 shares of the company’s stock, valued at $14,416,299.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Investors Lp Aea sold 4,500,000 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $38.05, for a total transaction of $171,225,000.00. The disclosure for this sale can be found here. Insiders sold 5,137,499 shares of company stock valued at $195,025,257 in the last three months. Company insiders own 5.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Capital Fund Management S.A. lifted its holdings in shares of GMS by 17.0% in the fourth quarter. Capital Fund Management S.A. now owns 13,100 shares of the company’s stock worth $493,000 after acquiring an additional 1,900 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of GMS by 213.7% in the third quarter. Great West Life Assurance Co. Can now owns 2,823 shares of the company’s stock worth $100,000 after acquiring an additional 1,923 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of GMS by 5.5% in the third quarter. California State Teachers Retirement System now owns 44,004 shares of the company’s stock worth $1,558,000 after acquiring an additional 2,287 shares during the last quarter. Paloma Partners Management Co lifted its holdings in shares of 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 acquiring an additional 2,583 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of GMS in the fourth quarter worth about $129,000. 72.83% of the stock is owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION WARNING: “GMS (GMS) Now Covered by Analysts at Instinet” was originally published by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this news story on another publication, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be accessed at https://sportsperspectives.com/2018/03/14/gms-gms-now-covered-by-analysts-at-instinet.html.
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.
Receive News & Ratings for GMS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GMS and related companies with MarketBeat.com's FREE daily email newsletter.