GMS Inc. price target lowered to $65 from $82 at RBC Capital

RBC Capital lowered the firm’s price target on GMS Inc. (GMS) to $65 from $82 and keeps a Sector Perform rating on the shares. The company’s Q3 earnings were “sharp miss” and its Q4 guidance was “weak”, with the firm’s FY26 EBITDA projections also declining 20% to reflect multi-family home business declines and weaker single-family volumes, the analyst tells investors in a research note. The resiliency in wallboard pricing is encouraging but risks have increased and margins remain under pressure, the firm added.