Latest news with #GMS
Yahoo
3 days ago
- Business
- Yahoo
Raymond James downgrades GMS Inc. stock amid possible takeover speculation
- A surge in GMS shares following recent speculation around a potential bidding war has left the risk-to-reward profile of the stock more "balanced," analysts at Raymond James said in a note downgrading their rating of the building-products distributor. Last week, the Wall Street Journal reported that DIY chain Home Depot (NYSE:HD) was making an offer for GMS, citing people familiar with the matter. However, the exact price or timing of Home Depot's bid could not be determined, the WSJ noted. Home Depot also declined to comment on the rumors. The report came one day after serial dealmaker Brad Jacobs' QXO announced it had submitted its own unsolicited proposal to purchase GMS for roughly $5 billion, or $95.20 a share in cash. Georgia-based GMS, which supplies tools and building materials for consumers and contractors, confirmed that it had received QXO's offer and would review it. GMS has been at the center of recent speculation over a potential takeover, as firms look to take advantage of a recent need for more housing in spite of tariff-related economic uncertainty. Last year, Home Depot notched a deal to snap up SRS Distribution, a seller of professional roofing goods, for $18.25 billion, including debt, betting on increased spending by contractors and construction businesses. Shares in GMS, which had already spiked in recent weeks, soared by more than 30% over the five trading days ending on Tuesday, when the stock price finished at $99.69. Its market capitalization now stands at nearly $3.8 billion. Lowering their rating of GMS to "market perform" from "outperform," the strategists said that, with the firm's shares now trading at a level higher than QXO's offer price, there is "limited incentive for another buyer to put forth a bid well above" where the stock currently stands. They added that, given "the unlikelihood of QXO to raise its offer even in the event of an over-the-top bid, we now view the risk/reward as more balanced." "While there are other potential buyers who could have interest in GMS, we view buyer involvement outside of QXO [or] Home Depot to be unlikely," the analysts wrote. Related articles Raymond James downgrades GMS Inc. stock amid possible takeover speculation Coinbase target raised to 'Street High' at Bernstein, calling it 'misunderstood' Loop Capital lifts Nvidia target to street high of $250 on AI chip spending Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
Metals Company upgraded, CoreWeave initiated: Wall Street's top analyst calls
The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The 5 Upgrades: JPMorgan upgraded Yum! Brands (YUM) to Overweight from Neutral with a price target of $162, down from $170. The firm cites the company's "sustained" 4% unit growth, "strong" free cash flow generation, and pulled back valuation for the upgrade. Jefferies upgraded Stellantis (STLA) to Buy from Hold with a price target of $13.20, up from $10.25. Data suggests the company's "earnings slide is about to turn," the analyst tells investors in a research note. Goldman Sachs upgraded Kraft Heinz (KHC) to Neutral from Sell with a price target of $27, up from $25. The firm now sees a more balanced risk/reward, saying the company's previously announced review of strategic alternatives could result in upside risk. Wedbush upgraded Metals Company (TMC) to Outperform from Neutral with a price target of $11, up from $6, citing "significantly increased confidence" in the long-term growth story following the executive order signed by President Trump at the end of April. Goldman Sachs upgraded Duke Energy (DUK) to Buy from Neutral with a price target of $132, up from $125. The firm has become more constructive on the company's outlook from a load growth, generation capex, regulatory and balance sheet 5 Downgrades: BNP Paribas Exane downgraded Graphic Packaging (GPK) to Neutral from Outperform. BTIG downgraded NuScale Power (SMR) to Neutral from Buy without a price target. The firm continues to like the stock longer term, but says some catalysts have already played out, including the Nuclear Regulatory Commission awarding standard design approval at the end of May, Congress continuing to support U.S. nuclear power development tied to the Inflation Reduction Act, and positive election results in Romania. Raymond James downgraded GMS Inc. (GMS) to Market Perform from Outperform without a price target. With the shares trading well above the only publicly quantified offer price from QXO (QXO), limited incentive for another buyer to put forth a bid well above where shares currently trade, and the unlikelihood of QXO to raise its offer even in the event of an over-the-top bid, GMS's risk/reward is more balanced, the analyst tells investors in a research note. Goldman Sachs downgraded WEC Energy (WEC) to Sell from Neutral with a price target of $100, down from $106. The firm cites the stock's outperformance over the past 12 months and on a year to date basis for the downgrade. Barclays downgraded Omnicom (OMC) to Equal Weight from Overweight with a price target of $80, down from $105. The firm came away from the Cannes ad festival last week more bearish than before on the advertising agencies. Top 5 Initiations: Argus initiated coverage of Duolingo (DUOL) with a Buy rating and $575 price target. The firm is positive on the company's "impressive" record of growth and profitability while noting that its recent results are "trending positively." B. Riley last night initiated coverage of Nextdoor (KIND) with a Neutral rating and $2 price target. With 100M signed-up neighbors globally and coverage of approximately one-third of U.S. households, Nextdoor's platform connects people to their local neighborhoods and offers a unique play on the advertising opportunity associated with its hyper-local social platform, the analyst tells investors in a research note. Canaccord initiated coverage of Flutter Entertainment (FLUT) with a Buy rating and $330 price target. The company has developed a portfolio of brands that maintain a leading or "podium position" in many of the largest and fastest growing betting markets around the world through a series of acquisitions, the analyst says. H.C. Wainwright initiated coverage of CoreWeave (CRWV) with a Neutral rating and no price target. The firm believes the stock "may need a minute to breathe after a five-fold breakout versus a period-comp 25% Nasdaq rise." DA Davidson initiated coverage of ServiceNow (NOW) with a Buy rating and $1,150 price target. ServiceNow has been a market leading business automation provider for "over two decades" and is now in the early stages of disrupting the CRM market, which is undergoing "a once in a generation shift due to AI," the analyst tells investors.
Business Insider
3 days ago
- Business
- Business Insider
GMS (GMS) Receives a Hold from Truist Financial
In a report released yesterday, Keith Hughes from Truist Financial maintained a Hold rating on GMS (GMS – Research Report), with a price target of $105.00. The company's shares closed yesterday at $99.69. Confident Investing Starts Here: Hughes covers the Industrials sector, focusing on stocks such as Ferguson PLC, Armstrong World, and Beacon Roofing Supply. According to TipRanks, Hughes has an average return of 17.8% and a 60.57% success rate on recommended stocks. In addition to Truist Financial, GMS also received a Hold from Robert W. Baird's David Manthey in a report issued on June 23. However, on June 20, Stephens reiterated a Buy rating on GMS (NYSE: GMS). Based on GMS' latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $1.26 billion and a GAAP net loss of $21.41 million. In comparison, last year the company earned a revenue of $1.26 billion and had a net profit of $51.91 million Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is neutral on the stock. Most recently, in April 2025, John C. Turner, the President & CEO of GMS bought 3,650.00 shares for a total of $255,500.00.
Yahoo
6 days ago
- Business
- Yahoo
QXO Inc.(QXO) Soars 21% W/W on GMS Bid
QXO, Inc. (NYSE:QXO) is one of the . QXO saw its share prices jump by 21 percent to end Friday's trading at $23.79 versus the $19.66 a week earlier, with investor sentiment bolstered by its proposed acquisition of building products distributor GMS Inc. (NYSE:GMS) for $5 billion. In a statement late last week, QXO, Inc. (NYSE:QXO) said it sent a proposal to GMS Inc.'s (NYSE:GMS) president and CEO to acquire all of the latter's outstanding shares at a price of $95.20 for a total of $5 billion. The amount represents a 27-percent premium over GMS Inc.'s (NYSE:GMS) 60-day volume-weighted average price of $74.82. Brad Jacob, chairman and CEO of QXO, Inc. (NYSE:QXO), said that its all-cash proposal will deliver immediate and certain value to GMS shareholders at a meaningful premium. 'We believe this is a compelling opportunity for GMS investors to realize the full value of their shares in a single, decisive transaction,' he noted. A Home improvement store aisle with multiple types of building products on display. QXO, Inc. (NYSE:QXO) tapped Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC as its financial advisors, while Paul, Weiss, Rifkind, Wharton & Garrison LLP will act as its legal counsel. While we acknowledge the potential of QXO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
6 days ago
- Business
- Yahoo
QXO Inc.(QXO) Soars 21% W/W on GMS Bid
QXO, Inc. (NYSE:QXO) is one of the . QXO saw its share prices jump by 21 percent to end Friday's trading at $23.79 versus the $19.66 a week earlier, with investor sentiment bolstered by its proposed acquisition of building products distributor GMS Inc. (NYSE:GMS) for $5 billion. In a statement late last week, QXO, Inc. (NYSE:QXO) said it sent a proposal to GMS Inc.'s (NYSE:GMS) president and CEO to acquire all of the latter's outstanding shares at a price of $95.20 for a total of $5 billion. The amount represents a 27-percent premium over GMS Inc.'s (NYSE:GMS) 60-day volume-weighted average price of $74.82. Brad Jacob, chairman and CEO of QXO, Inc. (NYSE:QXO), said that its all-cash proposal will deliver immediate and certain value to GMS shareholders at a meaningful premium. 'We believe this is a compelling opportunity for GMS investors to realize the full value of their shares in a single, decisive transaction,' he noted. A Home improvement store aisle with multiple types of building products on display. QXO, Inc. (NYSE:QXO) tapped Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC as its financial advisors, while Paul, Weiss, Rifkind, Wharton & Garrison LLP will act as its legal counsel. While we acknowledge the potential of QXO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
