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.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio