As previously reported, Longbow analyst Garik Shmois downgraded Eagle Materials to Neutral from Buy, stating that his checks reveal an incrementally more competitive landscape and downward revisions for 2019 pricing expectations for wallboard. His checks indicate distributor and manufacturers volumes are flat to up low-single digits while large distributors are reporting that manufacturers are offering price concessions of 5-10%, Shmois tells investors. He believes upward earnings catalysts from cement are more than offset by weaker wallboard fundamentals, the analyst added.