RPM International Receives a Buy from Seaport Global

By Austin Angelo

In a report released today, Michael Harrison from Seaport Global reiterated a Buy rating on RPM International (NYSE: RPM), with a price target of $58. The company’s shares opened today at $48.27.

According to TipRanks.com, Harrison is a 4-star analyst with an average return of 11.9% and a 68.1% success rate. Harrison covers the Consumer Goods sector, focusing on stocks such as Cabot Microelectronics Corporation, Air Products and Chemicals, and Sherwin-Williams Company.

Currently, the analyst consensus on RPM International is Moderate Buy and the average price target is $53.33, representing a 10.5% upside.

In a report issued on March 27, BMO Capital also initiated coverage with a Buy rating on the stock with a $60 price target.

Based on RPM International’s latest earnings report for the quarter ending February 28, the company posted quarterly revenue of $1.1 billion and quarterly net profit of $40.23 million. In comparison, last year the company earned revenue of $1.02 billion and had a net profit of $11.7 million.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RPM in relation to earlier this year.

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RPM International, Inc. engages in the manufacture, marketing, and sale of coatings, sealants, building materials, and related services. It operates through the following segments: Industrial, Specialty and Consumer.