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On April 1, Theron I. Gilliam, a director at GMS Inc . (NYSE:GMS), executed a series of stock transactions involving the company’s common stock. Gilliam sold 12,474 shares, generating a total of approximately $916,340. The shares were sold at a weighted average price of $73.46, with individual transaction prices ranging from $73.08 to $73.68. The transaction occurred as GMS stock, with a market capitalization of $2.88 billion, displays notable volatility with a beta of 1.73. According to InvestingPro analysis, the company maintains a "GOOD" overall financial health score.
In addition to the sale, Gilliam exercised stock options to acquire 24,474 shares at a price of $14.77 each, amounting to a total transaction value of $361,480. Following these transactions, Gilliam holds 31,507 shares of GMS Inc., reflecting a decrease in his total share ownership. InvestingPro data suggests the stock is currently undervalued, with management actively buying back shares. Discover more insights and 7 additional ProTips with an InvestingPro subscription, including the company’s comprehensive Pro Research Report.
In other recent news, GMS Inc. reported earnings and guidance that did not meet analysts’ expectations, leading to several firms adjusting their outlooks on the company. RBC Capital Markets reduced its price target for GMS from $82.00 to $65.00, citing a significant third-quarter miss and weak guidance for the fourth quarter. Barclays (LON:BARC) also lowered its price target to $71.00 from $80.00, maintaining an Equalweight rating, and noted challenges such as deteriorating demand and potential pricing pressure on wallboard. Raymond (NSE:RYMD) James cut its price target from $105.00 to $80.00 while maintaining an Outperform rating, highlighting macroeconomic headwinds and investor sentiment as ongoing challenges.
Truist Securities revised its price target to $80 from $97, maintaining a Hold rating due to concerns over weak multifamily housing and non-residential construction sectors. DA Davidson also adjusted its price target to $80 from $94, keeping a Neutral rating, and pointed out the volatility and pressures affecting GMS’s performance. The adjustments reflect a cautious outlook on GMS’s short-term performance amid industry challenges. Analysts from these firms have expressed concerns about GMS’s current market conditions but maintain varying levels of confidence in the company’s long-term prospects.
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