RPM International Stock Rating Reaffirmed by Morgan Stanley (RPM)
RPM International (NYSE:RPM)‘s stock had its “overweight” rating restated by equities researchers at Morgan Stanley in a research report issued on Thursday, AnalystRatingsNetwork.com reports. They currently have a $42.00 price objective on the stock, up from their previous price objective of $41.00. Morgan Stanley’s price objective points to a potential downside of 1.55% from the company’s current price.
The analysts wrote, “RPM reported better-than-expected results yesterday, largely driven by continued strength in the company’s exposure to US home improvement in the Consumer segment,” the report noted. “Better-than-expected margins in the Industrial segment also helped. Peers will be reporting their quarterly results over the next 2-6 weeks, and we expect to see that RPM’s organic growth remains above-average.” The key value drivers included: -”Global non-residential maintenance, US home improvement, and US non-residential construction are top end markets.”-”Falling raw materials will help gross margin expansion.”-”SG&A leverage from strong organic growth and acquisitions.”-”68% sales in North America – limited downside from EM macro.”
Several other analysts have also recently commented on the stock. Analysts at Robert W. Baird raised their price target on shares of RPM International from $40.00 to $45.00 in a research note to investors on Thursday. Analysts at Zacks upgraded shares of RPM International from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, December 26th. They now have a $44.60 price target on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. RPM International currently has a consensus rating of “Buy” and a consensus target price of $42.72.
RPM International (NYSE:RPM) traded down 1.24% during mid-day trading on Thursday, hitting $42.13. The stock had a trading volume of 1,148,181 shares. RPM International has a 52 week low of $29.11 and a 52 week high of $43.00. The stock’s 50-day moving average is $40.30 and its 200-day moving average is $36.87. The company has a market cap of $5.601 billion and a P/E ratio of 33.78.
RPM International (NYSE:RPM) last announced its earnings results on Wednesday, January 8th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.45 by $0.03. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts expect that RPM International will post $2.10 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, January 31st. Shareholders of record on Monday, January 13th will be paid a dividend of 0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Thursday, January 9th.
RPM International Inc (NYSE:RPM), through its subsidiaries manufactures, markets and sells various specialty chemical product lines, including specialty paints, protective coatings, roofing systems, sealants and adhesives.
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