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Fly News Breaks for December 11, 2018
GMS
Dec 11, 2018 | 08:11 EDT
Baird analyst David Manthey maintained a Neutral rating on GMS Inc but lowered his price target to $21 from $31. In a research note to investors, Manthey contends that GMS has underperformed since reporting Q2 results last week that were slightly below estimates, and that with wallboard volumes declining for a fourth straight quarter, he believes investor concerns around the competitive environment will likely linger, with continuing questions around GMS' ability to achieve both price and volume growth. Despite a seemingly attractive valuation, Manthey believes caution remains warranted.
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