Essex Investment Management Co. LLC acquired a new position in GMS Inc (NYSE:GMS) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 176,261 shares of the company’s stock, valued at approximately $3,922,000.
Several other large investors have also made changes to their positions in the company. American Century Companies Inc. acquired a new stake in shares of GMS during the second quarter worth $13,442,000. Skylands Capital LLC acquired a new stake in shares of GMS during the second quarter worth $524,000. Finally, Zelman Capital LLC acquired a new stake in shares of GMS during the second quarter worth $3,560,000.
Shares of GMS Inc (NYSE:GMS) traded up 2.06% on Wednesday, reaching $22.74. 242,921 shares of the company’s stock were exchanged. GMS Inc has a one year low of $19.28 and a one year high of $26.42. The company’s 50 day moving average is $23.34 and its 200-day moving average is $23.26. The stock has a market cap of $931.02 million and a price-to-earnings ratio of 41.57.
GMS (NYSE:GMS) last issued its earnings results on Tuesday, September 13th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. The company earned $549.80 million during the quarter. GMS’s revenue was up 21.5% compared to the same quarter last year. On average, analysts anticipate that GMS Inc will post $1.77 EPS for the current year.
GMS has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of GMS from a “buy” rating to a “hold” rating in a report on Friday, September 16th. Stephens started coverage on shares of GMS in a report on Monday, June 20th. They set an “overweight” rating for the company. Credit Suisse Group AG reiterated a “buy” rating on shares of GMS in a report on Tuesday, June 28th. Robert W. Baird reiterated a “neutral” rating and set a $25.00 price target on shares of GMS in a report on Thursday, September 1st. Finally, Royal Bank Of Canada upped their price target on shares of GMS from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, July 13th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $26.00.
GMS Inc is a distributor of wallboard and suspended ceilings systems. The Company’s seven segments include Central, Northeast, Southern, Southeast, Southwest and Western, Tool Source Warehouse, Inc and other. It offers wallboard, which is used in building products for interior and exterior walls, and ceilings in residential and commercial structures.
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