DA Davidson initiated coverage on GMS with a new price target
$GMS
RETAIL: Building Materials
Consumer Discretionary
DA Davidson initiated coverage of GMS with a rating of Buy and set a new price target of $82.00
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/26/2024 | $97.00 | Buy → Neutral | DA Davidson |
| 8/23/2023 | $82.00 | Buy | DA Davidson |
| 12/9/2022 | $52.00 → $60.00 | Buy → Hold | Loop Capital |
| 9/7/2022 | $50.00 → $46.00 | Buy → Hold | Truist |
| 6/22/2022 | $73.00 → $46.00 | Outperform → Sector Perform | RBC Capital Mkts |
| 3/18/2022 | $62.00 | Buy | Loop Capital |
| 12/6/2021 | $72.00 | Market Perform → Outperform | Raymond James |
| 12/3/2021 | $61.00 → $68.00 | Outperform | RBC Capital |
GMS Inc. (NYSE:GMS) (the "Company"), a leading North American specialty building products distributor, today announced the Company has entered into a definitive agreement with The Home Depot®, the world's largest home improvement retailer, to be acquired by its specialty trade distribution subsidiary, SRS Distribution ("SRS"). Under the terms of the agreement, a subsidiary of SRS will commence a tender offer to acquire all outstanding shares of GMS common stock for $110.00 per share, for a total enterprise value (including net debt) of approximately $5.5 billion. Since its founding in 1971, GMS has remained committed to providing outstanding service and adding value for customers by creat
No Shareholder Action Required at This Time GMS Inc. (NYSE:GMS) (the "Company"), a leading North American specialty building products distributor, confirmed that it has received an unsolicited proposal from QXO, Inc. ("QXO") to acquire all outstanding shares of GMS for $95.20 per share in cash. Consistent with its fiduciary duties and in consultation with its independent legal and financial advisors, the GMS Board of Directors will carefully review and evaluate the unsolicited proposal to determine the course of action that it believes is in the best interests of the Company and all GMS shareholders. GMS does not intend to comment further on QXO's unsolicited proposal until the Board
QXO, Inc. (NYSE:QXO) today sent a proposal to the President and CEO of GMS Inc. (NYSE:GMS) to acquire all outstanding shares of GMS for $95.20 per share in cash. The proposal implies a total transaction value of approximately $5 billion and reflects a 27% premium over GMS's 60-day volume-weighted average price of $74.82. "Our all-cash proposal to acquire GMS for $95.20 per share delivers immediate and certain value to GMS shareholders at a meaningful premium," said Brad Jacobs, Chairman and Chief Executive Officer of QXO. "We believe this is a compelling opportunity for GMS investors to realize the full value of their shares in a single, decisive transaction." Goldman Sachs & Co. LLC an
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4 - GMS Inc. (0001600438) (Issuer)
GMS Inc. (NYSE:GMS) (the "Company"), a leading North American specialty building products distributor, today announced the Company has entered into a definitive agreement with The Home Depot®, the world's largest home improvement retailer, to be acquired by its specialty trade distribution subsidiary, SRS Distribution ("SRS"). Under the terms of the agreement, a subsidiary of SRS will commence a tender offer to acquire all outstanding shares of GMS common stock for $110.00 per share, for a total enterprise value (including net debt) of approximately $5.5 billion. Since its founding in 1971, GMS has remained committed to providing outstanding service and adding value for customers by creat
GMS Inc. (NYSE:GMS), a leading North American specialty building products distributor, announced today an increase in the size of the board of directors from nine to ten directors and the appointment of Brad Southern to serve as an independent director for GMS, effective January 19, 2024. Mr. Southern will serve on the board's Human Capital Management and Compensation Committee and the Nominating and Corporate Governance Committee. In addition, GMS announced that Peter Browning will not stand for reelection to the GMS board at the 2024 Annual Meeting of Stockholders. Since 2017, Mr. Southern has held the position of Chief Executive Officer and member of the Board at Louisiana-Pacific Corp
DA Davidson downgraded GMS from Buy to Neutral and set a new price target of $97.00
DA Davidson initiated coverage of GMS with a rating of Buy and set a new price target of $82.00
Loop Capital downgraded GMS from Buy to Hold and set a new price target of $60.00 from $52.00 previously
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Resilient Pricing Despite Challenging and Uncertain End Market Conditions; Additional Structural Cost Reductions Realized GMS Inc. (NYSE:GMS), a leading North American specialty building products distributor, today reported financial results for the fourth quarter and fiscal year 2025 ended April 30, 2025. Fourth Quarter Fiscal 2025 Highlights (Comparisons are to the fourth quarter of fiscal 2024 unless otherwise noted) Net sales of $1,333.8 million decreased 5.6%; organic net sales decreased 9.7%. On a per day basis, net sales were down 4.1% and organic net sales decreased 8.3%. Net income of $26.1 million decreased 53.7% from $56.4 million. Net income per diluted share of $0.6
GMS Inc. (NYSE:GMS) (the "Company"), a leading North American specialty distributor of building products, announced today that it will release its financial results for the fiscal quarter and fiscal year ended April 30, 2025 before the market opens on the New York Stock Exchange on Wednesday, June 18, 2025. A conference call will be held that same day at 8:30 a.m. eastern time to review financial results, discuss recent events and conduct a question-and-answer session. Webcast The conference call and accompanying slide presentation will be available under "News & Events" in the "Investors" section of the Company's website at www.gms.com. To listen to the live broadcast, go to the site a
Pricing Resilience Despite Declining End Market Demand GMS Inc. (NYSE:GMS), a leading North American specialty building products distributor, today reported financial results for the fiscal third quarter ended January 31, 2025. Third Quarter Fiscal 2025 Highlights (Comparisons are to the third quarter of fiscal 2024) Net sales of $1.3 billion increased 0.2%; organic net sales decreased 6.7%. Net loss of $21.4 million, or $0.55 per diluted share, including a $42.5 million non-cash goodwill impairment charge, decreased from net income of $51.9 million, or $1.28 per diluted share. Adjusted net income of $36.2 million, or $0.92 per diluted share, decreased from $68.8 million, or $1.70