GMS Inc. price target lowered to $94 from $97 at DA Davidson

DA Davidson analyst Kurt Yinger lowered the firm’s price target on GMS Inc. (GMS) to $94 from $97 and keeps a Neutral rating on the shares. The company reported weaker than expected Q2 results with guidance for Q3 EBITDA also below estimates, the analyst tells investors in a research note. While certain hurricane-related pressures that impacted the quarter are expected to prove transitory, and its sequentially improving steel framing price/mix is encouraging, the price/cost margin headwinds within wallboard appear likely to persist at least over the near- term and the bottom from a demand standpoint still looks multiple quarters out, the firm added.