RPM International (NYSE:RPM) Stock Rating Upgraded by Bank of America

Key Points

• Bank of America upgraded RPM International from a "neutral" rating to a "buy" rating, raising its price target from $126.00 to $129.00, suggesting a potential upside of 15.61% from the current price.
• A number of analysts have recently adjusted their price targets for RPM International, with Mizuho setting a target of $140.00 and Wells Fargo raising theirs to $145.00, reflecting a positive outlook on the stock.
• RPM International reported earnings per share of $1.88 for the quarter, surpassing estimates and indicating a 7.4% increase in revenue compared to the same quarter last year.

RPM International (NYSE:RPM - Get Free Report) was upgraded by research analysts at Bank of America from a "neutral" rating to a "buy" rating in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a $129.00 price target on the specialty chemicals company's stock, up from their prior price target of $126.00. Bank of America's price target indicates a potential upside of 15.61% from the company's current price.

Several other equities analysts have also recently issued reports on the company. Mizuho raised their price target on RPM International from $126.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Royal Bank Of Canada reduced their target price on RPM International from $125.00 to $121.00 and set a "sector perform" rating on the stock in a report on Monday, October 6th. Wells Fargo & Company raised their target price on RPM International from $131.00 to $145.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Weiss Ratings restated a "buy (b-)" rating on shares of RPM International in a report on Wednesday, October 8th. Finally, Morgan Stanley raised their target price on RPM International from $113.00 to $124.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $130.70.

RPM International Price Performance

RPM International stock opened at $111.58 on Tuesday. The business's 50-day simple moving average is $121.48 and its 200 day simple moving average is $114.71. The stock has a market cap of $14.31 billion, a price-to-earnings ratio of 20.86, a P/E/G ratio of 2.02 and a beta of 1.03. RPM International has a 12-month low of $95.28 and a 12-month high of $141.79. The company has a quick ratio of 1.51, a current ratio of 2.26 and a debt-to-equity ratio of 0.87.

RPM International (NYSE:RPM - Get Free Report) last posted 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. The business had revenue of $2.11 billion for the quarter, compared to analysts' expectations of $2.05 billion. RPM International had a return on equity of 24.22% and a net margin of 9.16%.The firm's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.84 earnings per share. As a group, research analysts anticipate that RPM International will post 5.5 earnings per share for the current year.

Insiders Place Their Bets

In other RPM International news, Director Frederick R. Nance sold 1,000 shares of RPM International stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $119.36, for a total value of $119,360.00. Following the transaction, the director owned 7,394 shares of the company's stock, valued at approximately $882,547.84. The trade was a 11.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On RPM International

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GW&K Investment Management LLC raised its position in RPM International by 0.3% in the 1st quarter. GW&K Investment Management LLC now owns 608,318 shares of the specialty chemicals company's stock valued at $70,370,000 after buying an additional 2,048 shares during the last quarter. Boston Trust Walden Corp raised its position in RPM International by 18.1% in the 2nd quarter. Boston Trust Walden Corp now owns 601,564 shares of the specialty chemicals company's stock valued at $66,076,000 after buying an additional 92,358 shares during the last quarter. California State Teachers Retirement System raised its position in RPM International by 21.7% in the 2nd 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 last quarter. Ameriprise Financial Inc. raised its position in RPM International by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 339,258 shares of the specialty chemicals company's stock valued at $37,260,000 after buying an additional 888 shares during the last quarter. Finally, Baird Financial Group Inc. raised its position in RPM International by 0.4% in the 2nd quarter. Baird Financial Group Inc. now owns 279,460 shares of the specialty chemicals company's stock valued at $30,696,000 after buying an additional 1,076 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company's stock.

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.

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