GMS Inc. (NYSE:GMS – Get Rating) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 814,700 shares, a drop of 8.4% from the August 15th total of 889,300 shares. Based on an average trading volume of 292,400 shares, the days-to-cover ratio is presently 2.8 days. Currently, 1.9% of the company's stock are sold short.
Hedge Funds Weigh In On GMS
Institutional investors and hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund lifted its holdings in shares of GMS by 37.6% in the 1st quarter. New York State Common Retirement Fund now owns 43,080 shares of the company's stock valued at $2,144,000 after buying an additional 11,780 shares during the period. Summit Global Investments acquired a new position in shares of GMS in the 1st quarter valued at about $1,090,000. Swiss National Bank lifted its holdings in shares of GMS by 7.7% in the 1st quarter. Swiss National Bank now owns 91,800 shares of the company's stock valued at $4,569,000 after buying an additional 6,600 shares during the period. Reinhart Partners Inc. lifted its holdings in shares of GMS by 4.4% in the 1st quarter. Reinhart Partners Inc. now owns 300,317 shares of the company's stock valued at $14,947,000 after buying an additional 12,651 shares during the period. Finally, Jackson Creek Investment Advisors LLC acquired a new position in shares of GMS in the 1st quarter valued at about $1,001,000. Institutional investors and hedge funds own 98.94% of the company's stock.
Get GMS alerts:GMS Stock Performance
Shares of GMS opened at $42.44 on Thursday. The stock has a 50-day moving average of $49.28 and a two-hundred day moving average of $48.57. GMS has a one year low of $36.10 and a one year high of $61.79. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.43 and a current ratio of 2.30. The stock has a market cap of $1.80 billion, a P/E ratio of 6.14 and a beta of 1.85.
GMS (NYSE:GMS – Get Rating) last issued its quarterly earnings results on Thursday, September 1st. The company reported $2.43 EPS for the quarter, topping analysts' consensus estimates of $2.25 by $0.18. GMS had a return on equity of 34.71% and a net margin of 6.09%. The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the previous year, the firm posted $1.67 EPS. The firm's revenue was up 30.5% compared to the same quarter last year. As a group, research analysts predict that GMS will post 7.9 EPS for the current year.Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on GMS. Royal Bank of Canada downgraded GMS from an "outperform" rating to a "sector perform" rating and cut their price target for the company from $73.00 to $46.00 in a report on Wednesday, June 22nd. StockNews.com upgraded GMS from a "buy" rating to a "strong-buy" rating in a report on Monday, June 27th. Truist Financial cut GMS from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $50.00 to $46.00 in a research report on Wednesday, September 7th. Raymond James reissued an "outperform" rating and issued a $70.00 price objective (down previously from $72.00) on shares of GMS in a research report on Friday, June 24th. Finally, Robert W. Baird lowered their price objective on GMS from $68.00 to $55.00 and set an "outperform" rating for the company in a research report on Friday, June 24th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $56.67.
About GMS
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GMS Inc distributes wallboard, ceilings, steel framing and complementary construction 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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