GMS (NYSE:GMS) Rating Lowered to Sector Perform at Royal Bank of Canada

GMS (NYSE:GMSGet Rating) was downgraded by investment analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Wednesday, The Fly reports. They currently have a $46.00 price target on the stock, down from their prior price target of $73.00. Royal Bank of Canada’s price target would suggest a potential upside of 12.20% from the company’s previous close.

GMS has been the subject of a number of other research reports. StockNews.com initiated coverage on shares of GMS in a report on Thursday, March 31st. They issued a “buy” rating for the company. Loop Capital initiated coverage on shares of GMS in a research note on Thursday, March 17th. They issued a “buy” rating and a $62.00 price target for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $61.00.

Shares of GMS opened at $41.00 on Wednesday. GMS has a 1-year low of $36.10 and a 1-year high of $61.79. The stock has a market cap of $1.76 billion, a PE ratio of 7.81 and a beta of 1.87. The firm has a 50-day simple moving average of $47.42 and a two-hundred day simple moving average of $51.26. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.37 and a quick ratio of 1.37.

In related news, major shareholder Coliseum Capital Management, L acquired 40,000 shares of GMS stock in a transaction dated Tuesday, April 5th. The stock was acquired at an average price of $47.89 per share, for a total transaction of $1,915,600.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.40% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in GMS. Renaissance Technologies LLC increased its stake in GMS by 93.1% in the 3rd quarter. Renaissance Technologies LLC now owns 55,000 shares of the company’s stock valued at $2,409,000 after buying an additional 26,516 shares during the period. Morgan Stanley increased its stake in GMS by 50.8% in the 3rd quarter. Morgan Stanley now owns 233,445 shares of the company’s stock valued at $10,224,000 after buying an additional 78,657 shares during the period. Tudor Investment Corp Et Al increased its stake in GMS by 25.4% in the 3rd quarter. Tudor Investment Corp Et Al now owns 32,306 shares of the company’s stock valued at $1,415,000 after buying an additional 6,551 shares during the period. Man Group plc acquired a new position in GMS in the 3rd quarter valued at $263,000. Finally, Cubist Systematic Strategies LLC increased its stake in GMS by 36.6% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 53,282 shares of the company’s stock valued at $2,334,000 after buying an additional 14,268 shares during the period. Hedge funds and other institutional investors own 96.81% of the company’s stock.

GMS Company Profile (Get Rating)

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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