RBC Capital lowered the firm’s price target on RPM (RPM) to $116 from $126 and keeps a Sector Perform rating on the shares. The company posted a weaker Q3 amid unfavorable weather and slow end market growth, the analyst tells investors in a research note. RPM eliminated fixed costs through plant consolidation, has a robust backlog, and has limited tariff impacts, but the company still faces mid-single-digit raw material inflation and general end market choppiness, the firm adds.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RPM:
- RPM International’s Earnings Call: Mixed Results Amid Challenges
- RPM price target lowered to $140 from $150 at Seaport Research
- RPM price target lowered to $110 from $125 at Fermium Research
- RPM price target lowered to $94 from $117 at BofA
- Sell Rating for RPM International Amid Construction Slowdown and Financial Challenges