RPM International (NYSE:RPM) Stock Price Target Lowered at Morgan Stanley

Key Points

• Morgan Stanley lowered RPM International’s price target from $117 to $114 while maintaining an “equal weight” rating, implying approximately 14.8% potential upside from the current price.
• RPM shares fell 1.1% to $99.28, trading below their 50-day and 200-day moving averages. The stock’s analyst consensus remains “Moderate Buy,” with an average price target of $125.50.
• The company exceeded quarterly expectations, reporting $1.89 in earnings per share versus $1.83 expected and $2.23 billion in revenue, up 7.2% year over year. Institutional investors own approximately 80.95% of RPM’s shares.

RPM International (NYSE:RPM - Get Free Report) had its price objective reduced by equities researchers at Morgan Stanley from $117.00 to $114.00 in a report released on Monday, Benzinga reports. The firm currently has an "equal weight" rating on the specialty chemicals company's stock. Morgan Stanley's price objective points to a potential upside of 14.82% from the company's current price.

A number of other equities analysts also recently weighed in on RPM. Royal Bank Of Canada boosted their price target on shares of RPM International from $126.00 to $128.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Wall Street Zen lowered shares of RPM International from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. KeyCorp initiated coverage on shares of RPM International in a research report on Friday, September 11th. They set an "overweight" rating and a $123.00 target price for the company. BMO Capital Markets raised their price target on shares of RPM International from $143.00 to $151.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of RPM International in a research note on Friday, July 24th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, RPM International has an average rating of "Moderate Buy" and an average price target of $125.50.

RPM International Stock Down 1.1%

NYSE:RPM traded down $1.16 on Monday, hitting $99.28. The stock had a trading volume of 24,773 shares, compared to its average volume of 1,051,907. RPM International has a 1 year low of $92.92 and a 1 year high of $121.93. The firm's fifty day simple moving average is $106.53 and its two-hundred day simple moving average is $104.69. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.68. The stock has a market cap of $12.67 billion, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 2.05 and a beta of 1.05.

RPM International (NYSE:RPM - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The specialty chemicals company reported $1.89 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.06. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.18 billion. RPM International had a return on equity of 22.45% and a net margin of 8.41%.The company's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.72 EPS. Analysts predict that RPM International will post 5.99 earnings per share for the current year.

Institutional Investors Weigh In On RPM International

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Operose Advisors LLC bought a new position in shares of RPM International in the second quarter worth $26,000. Saudi Central Bank grew its position in shares of RPM International by 89.0% in the second quarter. Saudi Central Bank now owns 8,934 shares of the specialty chemicals company's stock valued at $993,000 after purchasing an additional 4,207 shares in the last quarter. Syon Capital LLC raised its stake in shares of RPM International by 10.4% during the 2nd quarter. Syon Capital LLC now owns 4,688 shares of the specialty chemicals company's stock valued at $521,000 after purchasing an additional 442 shares during the period. Ferguson Wellman Capital Management Inc. purchased a new stake in RPM International during the 2nd quarter worth about $201,000. Finally, Dearborn Partners LLC bought a new position in RPM International in the 2nd quarter worth about $9,282,000. Institutional investors own 80.95% of the company's stock.

RPM International Company Profile

RPM International Inc NYSE: RPM is a multinational manufacturer of specialty coatings, sealants, adhesives, and related products. The company serves the construction, industrial, automotive, marine, consumer, and specialty markets through a portfolio of businesses that develop products for protecting, repairing, and enhancing residential, commercial, and industrial surfaces.

Its brands include Rust-Oleum, which provides consumer and professional paints and coatings; DAP, which produces caulks, sealants, and related products; Tremco, which serves the building and construction markets; and Carboline, which specializes in protective coatings and fireproofing products.

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