Citigroup Boosts HB Fuller (NYSE:FUL) Price Target to $46.00

HB Fuller (NYSE:FUL) had its price objective raised by Citigroup from $30.00 to $46.00 in a research note released on Monday, The Fly reports. They currently have a neutral rating on the specialty chemicals company’s stock.

Other equities research analysts also recently issued research reports about the stock. ValuEngine upgraded shares of HB Fuller from a sell rating to a hold rating in a research report on Friday, May 1st. Zacks Investment Research downgraded shares of HB Fuller from a hold rating to a sell rating in a research note on Wednesday, June 24th. Robert W. Baird lifted their price objective on HB Fuller from $35.00 to $45.00 and gave the company a neutral rating in a research report on Friday, June 26th. Deutsche Bank upped their target price on HB Fuller from $31.00 to $45.00 and gave the stock a hold rating in a research report on Friday, June 26th. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $54.00 price target on shares of HB Fuller in a research note on Friday, June 26th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. HB Fuller has an average rating of Buy and an average price target of $47.71.

Shares of HB Fuller stock opened at $44.06 on Monday. HB Fuller has a 1 year low of $23.68 and a 1 year high of $52.40. The company has a market cap of $2.26 billion, a P/E ratio of 18.51, a P/E/G ratio of 2.18 and a beta of 1.83. The company has a current ratio of 2.05, a quick ratio of 1.19 and a debt-to-equity ratio of 1.57. The stock has a 50-day moving average price of $39.46 and a 200 day moving average price of $40.50.

HB Fuller (NYSE:FUL) last issued its earnings results on Wednesday, June 24th. The specialty chemicals company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. The company had revenue of $675.00 million for the quarter, compared to the consensus estimate of $664.28 million. HB Fuller had a return on equity of 11.86% and a net margin of 4.43%. The firm’s quarterly revenue was down 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. On average, equities analysts forecast that HB Fuller will post 2.58 earnings per share for the current fiscal year.

In other news, VP Nathan D. Weaver sold 6,041 shares of HB Fuller stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $44.86, for a total value of $270,999.26. Following the transaction, the vice president now owns 11,990 shares of the company’s stock, valued at $537,871.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO James Owens sold 5,000 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $44.28, for a total transaction of $221,400.00. Following the completion of the sale, the chief executive officer now owns 256,812 shares of the company’s stock, valued at $11,371,635.36. The disclosure for this sale can be found here. Insiders sold 16,041 shares of company stock valued at $705,099 over the last quarter. 3.46% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of HB Fuller during the fourth quarter worth approximately $46,919,000. P2 Capital Partners LLC increased its position in HB Fuller by 18.4% during the first quarter. P2 Capital Partners LLC now owns 1,661,031 shares of the specialty chemicals company’s stock worth $46,393,000 after acquiring an additional 257,699 shares during the period. Goldman Sachs Group Inc. raised its stake in HB Fuller by 28.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 917,509 shares of the specialty chemicals company’s stock valued at $47,316,000 after purchasing an additional 203,776 shares during the last quarter. Morgan Stanley boosted its holdings in HB Fuller by 41.1% in the 1st quarter. Morgan Stanley now owns 548,168 shares of the specialty chemicals company’s stock valued at $15,310,000 after purchasing an additional 159,540 shares during the period. Finally, Macquarie Group Ltd. grew its position in HB Fuller by 10.2% in the 4th quarter. Macquarie Group Ltd. now owns 1,586,042 shares of the specialty chemicals company’s stock worth $81,792,000 after purchasing an additional 147,000 shares during the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

HB Fuller Company Profile

H.B. Fuller Company, together with its subsidiaries, formulates, manufactures, and markets adhesives, sealants, coatings, polymers, tapes, encapsulants, and other specialty chemical products worldwide. The company operates through five segments: Americas Adhesives, EIMEA, Asia Pacific, Construction Adhesives, and Engineering Adhesives.

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