H. B. Fuller (NYSE:FUL) Price Target Cut to $63.00 by Analysts at Citigroup

Key Points

• Citigroup cut H. B. Fuller’s price target from $75 to $63 while maintaining a “buy” rating, implying approximately 29% upside from the stock’s prior close.
• Analysts remain broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $66.
• H. B. Fuller shares fell 2.4% to $48.84. The company recently beat quarterly EPS estimates, reporting $1.52 versus the $1.47 consensus, while revenue increased 5.2% year over year but came in slightly below expectations.

H. B. Fuller (NYSE:FUL - Get Free Report) had its price objective lowered by research analysts at Citigroup from $75.00 to $63.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the specialty chemicals company's stock. Citigroup's price target suggests a potential upside of 29.00% from the stock's previous close.

A number of other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group set a $67.00 price objective on shares of H. B. Fuller in a research note on Friday, June 26th. UBS Group set a $69.00 target price on shares of H. B. Fuller in a research report on Friday, June 26th. JPMorgan Chase & Co. raised H. B. Fuller from a "neutral" rating to an "overweight" rating and increased their price target for the company from $58.00 to $67.00 in a research note on Friday, June 26th. Raymond James Financial set a $67.00 price target on H. B. Fuller in a research report on Friday, June 26th. Finally, Robert W. Baird decreased their price objective on H. B. Fuller from $75.00 to $65.00 and set an "outperform" rating for the company in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, H. B. Fuller currently has an average rating of "Moderate Buy" and a consensus price target of $66.00.

H. B. Fuller Trading Down 2.4%

H. B. Fuller stock traded down $1.22 during trading hours on Monday, reaching $48.84. 114,455 shares of the company's stock traded hands, compared to its average volume of 662,683. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.10 and a current ratio of 1.82. H. B. Fuller has a fifty-two week low of $46.70 and a fifty-two week high of $68.63. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 0.55 and a beta of 0.97. The firm's 50 day moving average is $55.71 and its 200-day moving average is $58.37.

H. B. Fuller (NYSE:FUL - Get Free Report) last issued its earnings results on Thursday, September 24th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.05. H. B. Fuller had a net margin of 5.56% and a return on equity of 12.65%. The company had revenue of $938.17 million for the quarter, compared to analyst estimates of $945.59 million. During the same quarter last year, the firm earned $1.26 EPS. The company's revenue for the quarter was up 5.2% on a year-over-year basis. On average, analysts predict that H. B. Fuller will post 4.78 earnings per share for the current year.

Insider Activity

In other news, VP Nathan Weaver sold 9,561 shares of the business's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $62.06, for a total value of $593,355.66. Following the completion of the transaction, the vice president owned 11,739 shares of the company's stock, valued at $728,522.34. The trade was a 44.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.83% of the stock is owned by company insiders.

Institutional Trading of H. B. Fuller

Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in shares of H. B. Fuller by 5.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,608,006 shares of the specialty chemicals company's stock valued at $160,854,000 after purchasing an additional 132,558 shares in the last quarter. Norges Bank bought a new stake in H. B. Fuller during the 4th quarter worth approximately $44,203,000. Royal Bank of Canada increased its stake in H. B. Fuller by 2,694.7% during the 1st quarter. Royal Bank of Canada now owns 675,765 shares of the specialty chemicals company's stock worth $41,681,000 after purchasing an additional 651,585 shares in the last quarter. Kennedy Capital Management LLC raised its holdings in H. B. Fuller by 43.4% during the 4th quarter. Kennedy Capital Management LLC now owns 630,194 shares of the specialty chemicals company's stock worth $37,471,000 after buying an additional 190,750 shares during the period. Finally, Bank of America Corp DE raised its holdings in H. B. Fuller by 36.3% during the 1st quarter. Bank of America Corp DE now owns 513,163 shares of the specialty chemicals company's stock worth $31,652,000 after buying an additional 136,666 shares during the period. Institutional investors and hedge funds own 95.93% of the company's stock.

About H. B. Fuller

H.B. Fuller Company NYSE: FUL develops and manufactures specialty adhesives, sealants and other chemical-based products used in industrial and commercial applications. Its solutions help customers bond, seal, coat and assemble materials across a range of products and manufacturing processes.

The company serves markets including packaging, hygiene and disposable products, construction, transportation, electronics, durable assembly, woodworking, flooring, composites and renewable energy.

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