Latest news with #GMSInc
Yahoo
a day ago
- Business
- Yahoo
TD Cowen Reaffirms Home Depot (HD) Rating, Target on the Possibility of GMS Acquisition
The Home Depot, Inc. (NYSE:HD) is one of the 12 stocks that will make you rich in 10 years. On June 23, TD Cowen reaffirmed its 'Buy' rating on Home Depot's stock. The firm also kept the $470.00 price target. This decision followed reports of the company's potential acquisition of GMS Inc. (NYSE:GMS), a specialty distributor of building products. ThreeRivers11 / Reports indicate that Home Depot submitted a competing offer to acquire GMS following an initial bid by QXO. According to TD Cowen, the potential GMS acquisition aligns with Home Depot's strategy to expand its presence in the professional contractor market. The firm noted that Home Depot has done well in previous acquisition attempts. For instance, while the market initially viewed the SRS acquisition skeptically, it has proven 'very successful,' demonstrating Home Depot's ability to integrate and grow acquired businesses. Nevertheless, TD Cowen expressed a neutral stance on the GMS bid, stating that it would move Home Depot further from its core single-family residential professional business. This could add operational complexity and dilute margins at a price described as 'not cheap.' The acquisition could also delay Home Depot's share buyback program. The Home Depot, Inc. (NYSE:HD) is the largest home improvement retailer in the U.S. It sells building materials, home improvement products, lawn and garden supplies, and offers installation and tool rental services. Its key product categories include building materials, décor, and hardlines like tools and appliances. While we acknowledge the potential of HD as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None.
Yahoo
4 days ago
- Business
- Yahoo
QXO (QXO) Falls 7.23% After $2-Billion Share Sale
We recently published . QXO, Inc. (NYSE:QXO) is one of the worst-performing stocks on Wednesday. QXO declined by 7.23 percent on Wednesday to close at $21.81 apiece as investors soured on its plans to raise $2 billion through a share sale program. In a statement on Tuesday, QXO, Inc. (NYSE:QXO) said that proceeds from the offer will be used for general corporate purposes, which may include funding future business acquisitions. While no deal has yet to be finalized, it can be recalled that QXO, Inc. (NYSE:QXO) late last week announced plans to acquire GMS Inc. for $5 billion. The proposed transaction will cover all outstanding shares at a price of $95.20 apiece. QXO, Inc. (NYSE:QXO) remains in a bidding war with Home Depot Inc. for the acquisition of GMS. In relation to the share sale, the company will grant its underwriters an option to purchase up to an additional $300 million of shares of common stock at the public offering price. Goldman Sachs & Co. LLC, Morgan Stanley, and Wells Fargo Securities are acting as underwriters for the Offering. 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
22-06-2025
- Business
- Yahoo
GMS Inc (GMS) Soars 31.88% W/W as 2 Building Giants Engage in Bidding War
GMS Inc. (NYSE:GMS) is one of the . GMS Inc. (NYSE:GMS) jumped by 31.88 percent week-on-week to finish at $100.27 versus the $76.03 on June 13, as investors snapped up shares following news that it was being targeted for acquisition by two home building giants. Last week, GMS Inc. (NYSE:GMS) confirmed receipt of QXO Inc.'s (NYSE:QXO) offer to acquire the company, saying that it will review the bid and make a decision that aligns with the best interests of the company and its shareholders. Meanwhile, The Wall Street Journal reported that Home Depot also offered to acquire GMS Inc. (NYSE:GMS), making it the second firm to bid for GMS Inc. (NYSE:GMS) and engage in a bidding war with QXO Inc. (NYSE:QXO). Home Depot, however, declined to comment on the acquisition reports. A construction worker using a drill while installing steel framing in a building. Founded in 1971, GMS operates a network of more than 320 distribution centers and operates nearly 100 tool sales, rental, and service centers across the United States and Canada. While we acknowledge the potential of GMS 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.
Bloomberg
20-06-2025
- Business
- Bloomberg
QXO Won't Raise Its Offer for GMS After Report of Home Depot Bid
QXO Inc. won't raise its $5 billion offer for building products distributor GMS Inc. after Home Depot Inc. reportedly made its own bid. A spokesman for QXO said Friday that $5 billion is the company's full offer. The Wall Street Journal reported Thursday that Home Depot had submitted a bid for an undetermined sum. Representatives for Home Depot and GMS declined to comment.
Yahoo
20-06-2025
- Business
- Yahoo
GMS says board will review QXO takeover proposal of $95.20 per share
GMS Inc. (GMS) 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,' the company said in a statement. GMS does not intend to comment further on QXO's proposal until the board has completed its review. GMS shareholders do not need to take any action at this time. Jefferies is acting as the company's financial advisor. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on GMS: Disclaimer & DisclosureReport an Issue GMS Inc. Reports Resilient Performance Amid Market Challenges GMS Inc. Earnings Call: Mixed Sentiment Amid Challenges Closing Bell Movers: GMS up 15% on takeover proposal from QXO QXO proposes to acquire GMS Inc. for $95.20 per share in cash GMS Inc. jumps 21% to $98 per share after takeover proposal from QXO Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
