GMS Inc. price target lowered to $80 from $94 at DA Davidson

DA Davidson lowered the firm’s price target on GMS Inc. (GMS) to $80 from $94 and keeps a Neutral rating on the shares after its Q3 earnings miss. The company saw volatile performance and pressures in multiple areas, the analyst tells investors in a research note. The outlook for Q4 was similarly disappointing and well-below the firm’s forecasts, reflecting an expectation that broad-based market softness persists in the near term, DA Davidson added.