A. Schulman, Inc. (SHLM) Upgraded to Hold at Zacks Investment Research
A. Schulman, Inc. (NASDAQ:SHLM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Saturday.
According to Zacks, “Schulman Inc. operates in one industry segment which is the sale of plastic resins to customers who use the products as raw materials in their manufacturing operations. The Company purchases plastic resins and other materials which either can be sold directly to customers or used by the Company in the manufacture of other products for sale to customers. All of the products which the Company sells are used for the same purpose–as raw material to be molded or extruded by the Company’s customers. “
Several other brokerages also recently weighed in on SHLM. BidaskClub raised shares of A. Schulman from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 11th. ValuEngine downgraded shares of A. Schulman from a “buy” rating to a “hold” rating in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $33.00.
Shares of A. Schulman (NASDAQ:SHLM) opened at 26.75 on Friday. A. Schulman has a 12 month low of $19.58 and a 12 month high of $37.70. The company has a 50 day moving average price of $28.96 and a 200-day moving average price of $30.92. The stock’s market cap is $786.99 million.
A. Schulman (NASDAQ:SHLM) last issued its earnings results on Wednesday, June 28th. The basic materials company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.65 by $0.02. The firm had revenue of $645.80 million during the quarter, compared to the consensus estimate of $619.54 million. A. Schulman had a positive return on equity of 35.64% and a negative net margin of 14.86%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 EPS. On average, equities research analysts predict that A. Schulman will post $1.65 earnings per share for the current year.
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A number of hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its stake in shares of A. Schulman by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 3,250 shares of the basic materials company’s stock valued at $102,000 after buying an additional 90 shares during the last quarter. US Bancorp DE boosted its stake in shares of A. Schulman by 23.4% in the second quarter. US Bancorp DE now owns 3,486 shares of the basic materials company’s stock valued at $111,000 after buying an additional 661 shares during the last quarter. Dubuque Bank & Trust Co. bought a new stake in shares of A. Schulman during the first quarter valued at approximately $209,000. Mason Street Advisors LLC boosted its stake in shares of A. Schulman by 7.3% in the first quarter. Mason Street Advisors LLC now owns 6,882 shares of the basic materials company’s stock valued at $216,000 after buying an additional 471 shares during the last quarter. Finally, Miles Capital Inc. boosted its stake in shares of A. Schulman by 0.3% in the first quarter. Miles Capital Inc. now owns 7,094 shares of the basic materials company’s stock valued at $223,000 after buying an additional 22 shares during the last quarter. Institutional investors and hedge funds own 88.27% of the company’s stock.
A. Schulman Company Profile
A. Schulman, Inc is an international supplier of plastic formulations, resins and services, and provides solutions to its customers’ requirements through custom-formulated products. The Company’s customers span a range of markets, such as packaging, mobility, building and construction, electronics and electrical, agriculture, personal care and hygiene, custom services, and sports, home and leisure.
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