GMS Inc. downgraded to Neutral from Buy at DA Davidson

DA Davidson downgraded GMS Inc. (GMS) to Neutral from Buy with a $97 price target The firm is cautious heading into the fiscal Q2 release next week as it sees downside risk to the out quarter guidance, noting that its own estimates are at the low-end consensus. The firm is moving to the sidelines given a “still tepid” demand backdrop, concerns around wallboard price/cost and near-term gross margins, as well as what it views as “a full valuation,” the analyst tells investors.