GMS Inc. price target lowered to $110 from $115 at Baird

Baird analyst David Manthey lowered the firm’s price target on GMS Inc. (GMS) to $110 from $115 and keeps an Outperform rating on the shares. The firm said 2Q results mildly missed the mark but primarily due to hurricane disruptions. The 3Q guide was also short of expectations, as management anticipates further multi-family/commercial deceleration and gross margin to improve sequentially, but remain lower year-over-year.