GMS Inc. price target lowered to $80 from $93 at Loop Capital

Loop Capital lowered the firm’s price target on GMS Inc. (GMS) to $80 from $93 and keeps a Hold rating on the shares. The firm cites the company’s sizable earnings miss and Q4 guidance which came in well below consensus expectations on softer than anticipated end market demand fundamentals, the analyst tells investors in a research note. The miss was driven in part by lighter than expected gross margin due to continued steel framing pricing declines and ongoing wallboard price/cost headwinds, the firm added.