Robert W. Baird analyst Ghansham Panjabi maintained a Buy rating on HB Fuller (FUL – Research Report) on December 30 and set a price target of $77.00. The company’s shares closed last Monday at $78.61, close to its 52-week high of $80.13.
According to TipRanks.com, Panjabi is a 5-star analyst with an average return of 16.4% and a 76.7% success rate. Panjabi covers the Basic Materials sector, focusing on stocks such as Sherwin-Williams Company, Axalta Coating Systems, and Berry Global Group.
Currently, the analyst consensus on HB Fuller is a Moderate Buy with an average price target of $83.00.
Based on HB Fuller’s latest earnings release for the quarter ending August 31, the company reported a quarterly revenue of $827 million and net profit of $31.62 million. In comparison, last year the company earned revenue of $691 million and had a net profit of $41.61 million.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FUL in relation to earlier this year. Most recently, in November 2021, Timothy Keenan, the VP, Gen. Counsel & Corp. Sec. of FUL sold 5,291 shares for a total of $378,412.
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H.B. Fuller Co. engages in the formulation, manufactures, and markets the adhesives, sealants, and other specialty chemical products. It operates through six operating segments: Americas Adhesives, EIMEA, Asia Pacific, Construction Products, Engineering and Royal Adhesives. The Americas Adhesives, EIMEA and Asia Pacific segments include a full range of specialty adhesives such as thermoplastic, thermoset, reactive, and water-based and solvent-based products. The Construction Products segment provides floor preparation, grouts, and mortars for tile setting; as well as sealants and related products for heating, ventilation, and air conditioning and insulation applications. The Engineering Adhesives segment produces and supplies industrial adhesives to the transportation, electronics, medical, clean energy, appliance, and heavy machinery markets. The Royal Adhesives segment involves in producing adhesives, sealants, coatings, polymers, tapes, encapsulants, and additives for use in commercial, industrial, and institutional applications. The company was founded by Harvey Benjamin Fuller in 1887 and is headquartered in St. Paul, MN.
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