Bank of America Corporation Trims RPM International Inc. (NYSE:RPM) Target Price to $56.00
RPM International Inc. (NYSE:RPM) had its target price lowered by Bank of America Corporation from $58.00 to $56.00 in a note issued to investors on Tuesday. The firm presently has a “neutral” rating on the specialty chemicals company’s stock. Bank of America Corporation’s target price suggests a potential upside of 6.63% from the stock’s current price.
Other research analysts also recently issued research reports about the company. Zacks Investment Research raised RPM International from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Wednesday, June 7th. Seaport Global Securities upgraded shares of RPM International from a “neutral” rating to a “buy” rating and upped their price objective for the company from $55.00 to $60.00 in a research report on Tuesday, May 16th. Royal Bank Of Canada restated a “hold” rating and issued a $49.00 price objective on shares of RPM International in a research report on Tuesday, June 13th. Finally, BidaskClub cut RPM International from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. RPM International has a consensus rating of “Hold” and an average target price of $58.00.
Shares of RPM International (NYSE RPM) traded up 3.24% during mid-day trading on Tuesday, hitting $52.52. The company had a trading volume of 2,605,812 shares. The firm has a market cap of $7.02 billion, a PE ratio of 33.62 and a beta of 1.55. RPM International has a 12-month low of $46.25 and a 12-month high of $56.48. The firm’s 50 day moving average is $55.16 and its 200-day moving average is $53.56.
RPM International (NYSE:RPM) last released its quarterly earnings results on Monday, July 24th. The specialty chemicals company reported $1.02 EPS for the quarter, missing the Zacks’ consensus estimate of $1.17 by $0.15. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. RPM International had a return on equity of 26.36% and a net margin of 4.22%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $1.13 earnings per share. On average, equities analysts expect that RPM International will post $3.00 EPS for the current year.
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Hedge funds have recently bought and sold shares of the company. Ferguson Wellman Capital Management Inc. boosted its stake in RPM International by 0.5% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 238,242 shares of the specialty chemicals company’s stock worth $13,110,000 after buying an additional 1,197 shares during the last quarter. Nationwide Fund Advisors raised its position in shares of RPM International by 0.6% in the first quarter. Nationwide Fund Advisors now owns 298,018 shares of the specialty chemicals company’s stock worth $16,400,000 after buying an additional 1,739 shares during the period. Huntington National Bank raised its position in shares of RPM International by 1.1% in the first quarter. Huntington National Bank now owns 17,621 shares of the specialty chemicals company’s stock worth $970,000 after buying an additional 200 shares during the period. Anderson Hoagland & Co. raised its position in shares of RPM International by 1.2% in the first quarter. Anderson Hoagland & Co. now owns 35,449 shares of the specialty chemicals company’s stock worth $1,951,000 after buying an additional 434 shares during the period. Finally, Capstone Asset Management Co. raised its position in shares of RPM International by 388.0% in the first quarter. Capstone Asset Management Co. now owns 75,038 shares of the specialty chemicals company’s stock worth $4,129,000 after buying an additional 59,660 shares during the period. 72.58% of the stock is currently owned by hedge funds and other institutional investors.
RPM International Company Profile
RPM International Inc, through its subsidiaries, manufactures, markets and sells various specialty chemical product lines, including specialty paints, protective coatings, roofing systems, sealants and adhesives, focusing on the maintenance of industrial, specialty and consumer markets. The Company operates through three segments: the industrial reportable segment (industrial segment), the specialty reportable segment (specialty segment) and the consumer reportable segment (consumer segment).
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