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RPM

RPM

$50.74

-3.93 (-7.19%)

10:42
07/24/17
07/24
10:42
07/24/17
10:42

RPM: Q4 underperformance driven by gross margin contraction, raw material costs

RPM on its earnings conference call said that 100% of the company's underperformance in Q4 was driven by gross margin contraction and higher raw material costs. The company noted that there had been shortages on items like MDI andd MMA resins, a "critical" resin for a number of its specialty flooring products in Europe, as well as "tightness" in a number of other markets. RPM said it is committed to executing better in 2018 and "communicating better." RPM said it "communicated poorly" this year around Q3 items and did not appreciate the 12c y/y hit that was coming in Q4 from a tax perspective. RPM is down about 8% in morning trading to $50.42.

  • 24

    Jul

RPM RPM
$50.74

-3.93 (-7.19%)

08/10/16
GHSC
08/10/16
DOWNGRADE
GHSC
Neutral
RPM downgraded to Neutral from Accumulate at Seaport Global
02/13/17
EVER
02/13/17
INITIATION
Target $59
EVER
Buy
RPM initiated with a Buy at Evercore ISI
Evercore ISI analyst Laurent Favre initiated coverage of the chemicals sector, starting RPM with a Buy rating and $59 target.
02/17/17
NRCS
02/17/17
UPGRADE
Target $62
NRCS
Buy
RPM upgraded to Buy from Neutral at Northcoast
Northcoast analyst Kevin Hocevar upgraded RPM to Buy with a $62 price target.
05/16/17
GHSC
05/16/17
UPGRADE
Target $60
GHSC
Buy
RPM upgraded to Buy from Neutral at Seaport Global
Seaport Global analyst Michael Harrison initiated RPM with a Buy and a $60 price target following investor meetings saying he came away more confident in the growth outlook. The analyst said markets are beginning to show more positive signs, indicating improved momentum in Europe, a potential recovery in mining and energy-related applications, and decent trends in North American residential and non-residential construction.

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