GMS Inc. (GMS) PT Lowered to $90 at Truist Securities

Truist Securities analyst Keith Hughes lowered the price target on GMS Inc. (NYSE: GMS) to $90.00 (from $95.00) while maintaining a Hold rating.

The analyst comments "EBITDA results were below Street expectations with FY2Q25 guide below views as all end markets were weaker than management expected, particularly in July. Commercial and MF volume is expected to decelerate the rest of the fiscal year. Steel framing price deflation continues to drag down results and margins, as was seen all last fiscal year with no bottom in sight. Wallboard pricing has been flat to up, but we do believe has lagged manufacturer increases. Regardless, rate cuts should start to help demand and this view is a prime reason the stock moved down only modestly on the news. Maintain Hold, but lowering our PT to $90 from $95."

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