GMS Inc. (NYSE:GMS) short interest fell 14.3% in July

GMS Inc. (NYSE:GMS – Get Free Report ) was the beneficiary of a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 1,080,000 shares, a decrease of 14.3% from the July 15th total of 1,260,000 shares. About 2.7% of the company’s shares are short-sold. Based on an average daily volume of 406,900 shares, the days-to-cover ratio is currently 2.7 days.

Internal activity at GMS

In related news, SVP Craig D. Apolinsky sold 7,900 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $90.32, for a total transaction of $713,528.00. Following the completion of the transaction, the senior vice president now owns 10,671 shares in the company, valued at $963,804.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. Corporate insiders own 1.90% of the company’s shares.

Institutional trading of the AGM

A number of institutional investors and hedge funds have recently made changes to their positions in GMS. Quarry LP boosted its holdings in shares of GMS by 37.1% in the second quarter. Quarry LP now owns 403 shares of the company’s stock worth $32,000 after acquiring an additional 109 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in GMS by 1.3% in the fourth quarter. SummerHaven Investment Management LLC now owns 10,231 shares of the company’s stock valued at $843,000 after buying an additional 136 shares during the last quarter. QRG Capital Management Inc. boosted its position in GMS by 2.0% in the first quarter. QRG Capital Management Inc. now owns 8,070 shares of the company’s stock valued at $786,000 after purchasing an additional 160 shares in the last quarter. Pitcairn Co. boosted its holdings in shares of GMS by 2.5% in the first quarter. Pitcairn Co. now owns 6,614 shares of the company’s stock worth $644,000 after purchasing an additional 160 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of GMS by 86.4% during the second quarter. Blue Trust Inc. now owns 369 shares of the company’s stock worth $30,000 after buying an additional 171 shares during the last quarter. Institutional investors own 95.28% of the company’s shares.

GMS trading down 1.0%

Shares of NYSE:GMS opened at $91.91 on Friday. GMS has a 52 week low of $56.58 and a 52 week high of $101.04. The company has a market cap of $3.64 billion, a P/E ratio of 13.66 and a beta of 1.62. The company has a 50-day simple moving average of $87.35 and a 200-day simple moving average of $90.68. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.40, and a current ratio of 2.17.

GMS (NYSE:GMS – Get Free Report ) last released its quarterly earnings results on Thursday, June 20th. The company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.04 by ($0.11). GMS had a net margin of 5.02% and a return on equity of 24.05%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.41 billion. In the same quarter last year, the company posted earnings of $2.11 per share. The company’s revenue increased by 8.4% year-on-year. sell-side analysts predict that GMS will post 8.64 earnings per share for the current year.

Analysts set new price targets

A number of research analysts have weighed in on GMS shares. Truist Financial cut their price target on shares of GMS from $105.00 to $95.00 and set a “hold” rating on the stock in a research note on Friday, June 21st. DA Davidson decreased their price objective on shares of GMS from $105.00 to $97.00 and set a “buy” rating on the stock in a research report on Tuesday, June 25th. Stephens cut their price objective on shares of GMS from $112.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, July 1st. Loop Capital cut their price target on GMS from $100.00 to $85.00 and set a “hold” rating on the stock in a research report on Friday, June 21st. Finally, Royal Bank of Canada dropped their target price on GMS from $92.00 to $85.00 and set a “sector perform” rating on the stock in a report on Friday, June 21st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, GMS presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.38.

See the latest stock analysis on GMS

About GMS

(Get a free report)

GMS Inc distributes wall panels, ceilings, steel frames and complementary building products in the United States and Canada. The company offers ceiling products including suspended mineral fiber, soft fiber and metal ceiling systems used primarily in offices, hotels, hospitals, retail facilities, schools and various other commercial and institutional buildings.

Read more

Get news and reviews 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.