Citigroup Cuts RPM International (NYSE:RPM) Price Target to $127.00

RPM International (NYSE:RPM) had its target price dropped by investment analysts at Citigroup from $136.00 to $127.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. Citigroup’s price objective suggests a potential upside of 18.88% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on RPM. Mizuho dropped their price target on shares of RPM International from $138.00 to $128.00 and set an “outperform” rating for the company in a research note on Thursday. Bank of America raised shares of RPM International from a “neutral” rating to a “buy” rating and upped their target price for the company from $126.00 to $129.00 in a research note on Tuesday, October 14th. Evercore ISI dropped their price objective on RPM International from $145.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 11th. Royal Bank Of Canada raised RPM International from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $121.00 to $132.00 in a research note on Tuesday, December 9th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of RPM International in a research report on Monday. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $128.64.

RPM International Stock Down 1.2%

Shares of NYSE:RPM traded down $1.29 during midday trading on Thursday, hitting $106.83. 572,172 shares of the stock were exchanged, compared to its average volume of 794,904. The company has a market capitalization of $13.70 billion, a PE ratio of 19.99, a P/E/G ratio of 1.97 and a beta of 1.11. RPM International has a 52-week low of $95.28 and a 52-week high of $129.12. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.51 and a current ratio of 2.26. The business’s fifty day simple moving average is $107.89 and its two-hundred day simple moving average is $114.28.

RPM International (NYSE:RPM) last announced its quarterly earnings results on Wednesday, October 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.01. RPM International had a return on equity of 24.22% and a net margin of 9.16%.The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period in the previous year, the company earned $1.84 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. As a group, research analysts predict that RPM International will post 5.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Salvatore D. Fazzolari sold 375 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $107.67, for a total value of $40,376.25. Following the transaction, the director owned 21,578 shares of the company’s stock, valued at approximately $2,323,303.26. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RPM International

Several institutional investors and hedge funds have recently modified their holdings of RPM. Danske Bank A S bought a new position in shares of RPM International during the third quarter worth approximately $17,362,000. Boston Trust Walden Corp raised its stake in RPM International by 18.1% during the second quarter. Boston Trust Walden Corp now owns 601,564 shares of the specialty chemicals company’s stock worth $66,076,000 after buying an additional 92,358 shares during the last quarter. California State Teachers Retirement System lifted its holdings in RPM International by 21.7% in the second quarter. California State Teachers Retirement System now owns 355,934 shares of the specialty chemicals company’s stock valued at $39,096,000 after buying an additional 63,532 shares during the period. ABN Amro Investment Solutions acquired a new stake in RPM International during the 2nd quarter worth about $6,553,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of RPM International by 10.8% in the 1st quarter. Ameriprise Financial Inc. now owns 338,370 shares of the specialty chemicals company’s stock valued at $39,143,000 after purchasing an additional 33,016 shares during the period. 80.95% of the stock is currently owned by institutional investors and hedge funds.

About RPM International

RPM International Inc manufactures and sells specialty chemicals for the industrial, specialty, and consumer markets worldwide. It offers waterproofing, coating, and traditional roofing systems; sealants, air barriers, tapes, and foams; residential home weatherization systems; roofing and building maintenance services; sealing and bonding, subfloor preparation, flooring, and glazing solutions; resin flooring systems, polyurethane, MMA waterproof, epoxy floor paint and coatings, concrete repair, and protection products; fire stopping and intumescent steel coating, and manufacturing industry solutions; rolled asphalt roofing materials and chemical admixtures; concrete and masonry admixtures, concrete fibers, curing and sealing compounds, structural grouts and mortars, epoxy adhesives, injection resins, polyurethane foams, floor hardeners and toppings, joint fillers, industrial and architectural coatings, decorative color/stains/stamps, and restoration materials; insulated building cladding materials; and concrete form wall systems.