GMS Inc. price target lowered to $97 from $105 at DA Davidson

DA Davidson lowered the firm’s price target on GMS Inc. to $97 from $105 but keeps a Buy rating on the shares. The stock is down about 10% since reporting in-line Q4 results but a weaker than expected Q1 outlook, the analyst tells investors in a research note. The firm added however that while the market environment is “choppy” with certain factors weighing on GMS’s near-term gross margins, the wallboard pricing environment remains stable and healthy, with single-family demand strength starting to materialize in a larger way.