A. Schulman (SHLM) Downgraded by Zacks Investment Research
A. Schulman (NASDAQ:SHLM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday, December 12th.
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. “
Other research analysts also recently issued reports about the stock. BidaskClub upgraded shares of A. Schulman from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 17th. SunTrust Banks restated a “hold” rating on shares of A. Schulman in a research report on Friday, October 27th. ValuEngine downgraded shares of A. Schulman from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. TheStreet upgraded shares of A. Schulman from a “c-” rating to a “b-” rating in a research report on Tuesday, November 7th. Finally, Longbow Research upgraded shares of A. Schulman from a “neutral” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Friday, August 25th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $39.00.
A. Schulman (NASDAQ:SHLM) last posted its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.07. A. Schulman had a net margin of 1.35% and a return on equity of 31.20%. The company had revenue of $646.65 million for the quarter, compared to the consensus estimate of $624.91 million. During the same period last year, the firm posted $0.47 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. equities research analysts predict that A. Schulman will post 2.07 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of SHLM. Teachers Advisors LLC lifted its position in A. Schulman by 4.9% in the 1st quarter. Teachers Advisors LLC now owns 52,344 shares of the basic materials company’s stock valued at $1,646,000 after purchasing an additional 2,468 shares during the last quarter. US Bancorp DE raised its position in shares of A. Schulman by 23.4% during the 2nd quarter. US Bancorp DE now owns 3,486 shares of the basic materials company’s stock worth $111,000 after buying an additional 661 shares in the last quarter. Strs Ohio raised its position in shares of A. Schulman by 6.5% during the 2nd quarter. Strs Ohio now owns 27,900 shares of the basic materials company’s stock worth $892,000 after buying an additional 1,700 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of A. Schulman by 4.2% during the 2nd quarter. Great West Life Assurance Co. Can now owns 43,842 shares of the basic materials company’s stock worth $1,401,000 after buying an additional 1,786 shares in the last quarter. Finally, Texas Permanent School Fund raised its position in shares of A. Schulman by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 21,486 shares of the basic materials company’s stock worth $688,000 after buying an additional 179 shares in the last quarter. Hedge funds and other institutional investors own 78.94% of the company’s stock.
About A. Schulman
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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