Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>RPM International Inc. reported its fiscal 2024 fourth quarter and full year earnings, reflecting sustained growth and positive transformations influenced by its Margin Acceleration Plan 2025 (MAP 2025) initiatives.</li><li>However, as the company navigates a competitive and changing market landscape, both strengths and challenges have emerged from its performance.</li><li>One significant highlight is RPM International Inc.’s continuing revenue growth, achieving a record sales year with substantial increases in adjusted Earnings Before Interest and Taxes (EBIT), which grew roughly 12%.</li></ul>

RPM International Inc. reported its fiscal 2024 fourth quarter and full year earnings, reflecting sustained growth and positive transformations influenced by its Margin Acceleration Plan 2025 (MAP 2025) initiatives.However, as the company navigates a competitive and changing market landscape, both strengths and challenges have emerged from its performance.One significant highlight is RPM International Inc.’s continuing revenue growth, achieving a record sales year with substantial increases in adjusted Earnings Before Interest and Taxes (EBIT), which grew roughly 12%.

RPM International: Will They Attain The Targeted Margin Enhancement via MAP '25 Initiative? - Major Drivers

<ul><li>RPM International's third-quarter fiscal 2024 results marked their ninth consecutive quarter of record sales and earnings before interest and taxes (EBIT) results, driven by the company's operational improvement initiatives - the MAP 2025.</li><li>This positive momentum was achieved, notwithstanding lower sales volumes in the Consumer and Specialty Products segments.</li><li>Performance Coatings Group and Construction Products Group led sales growth, benefiting from strong demand from infrastructure and building projects.</li></ul>

RPM International's third-quarter fiscal 2024 results marked their ninth consecutive quarter of record sales and earnings before interest and taxes (EBIT) results, driven by the company's operational improvement initiatives - the MAP 2025.This positive momentum was achieved, notwithstanding lower sales volumes in the Consumer and Specialty Products segments.Performance Coatings Group and Construction Products Group led sales growth, benefiting from strong demand from infrastructure and building projects.

RPM International: Investment In Asian Market & Economic Growth & 5 Fundamental Factors Driving Its Performance! - Financial Forecasts

<ul><li>RPM International Inc. delivered an all-around beat in the previous quarter, with a notable 4.1% surge in consolidated sales, reaching an unprecedented $2.01 billion.</li><li>This growth, propelled by pricing strategies and moderate volume expansion, resulted in a 3.9% increase in organic sales.</li><li>In contrast, the Specialty Products Group experienced a 10.7% decline in sales, reaching $181 million, primarily due to weak OEM demand and divestitures.</li></ul>

RPM International Inc. delivered an all-around beat in the previous quarter, with a notable 4.1% surge in consolidated sales, reaching an unprecedented $2.01 billion.This growth, propelled by pricing strategies and moderate volume expansion, resulted in a 3.9% increase in organic sales.In contrast, the Specialty Products Group experienced a 10.7% decline in sales, reaching $181 million, primarily due to weak OEM demand and divestitures.

RPM International Inc.: How Consumer Demands Propel Exceptional Sales Growth! - Major Drivers

<ul><li>RPM International Inc. delivered a positive result and managed an all-around beat in the last quarter.</li><li>Net sales for the Construction Products Group reached $748 million, a small increase over the same period the previous year.</li><li>The consumer group increased sales by 4.9% to $716.4 million in the quarter.</li></ul>

RPM International Inc. delivered a positive result and managed an all-around beat in the last quarter.Net sales for the Construction Products Group reached $748 million, a small increase over the same period the previous year.The consumer group increased sales by 4.9% to $716.4 million in the quarter.

RPM International Inc.: Strategies in the Booming Construction Sector! - Major Drivers

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

iShares Russell 2000 ETF / Technical Analysis

<ul>
<li>Since early-October we have discussed our expectation for a bear rally, targeting the 200-day MAs on the $IWM and $SPX; targets were hit (within 0.5% of hitting on SPX).</li>
<li>We are now seeing short-term uptrend breaks on the IWM and the DJIA; this is a good time to get defensive and/or take profits, as the 1.5-month rally appears over.</li>
<li>We expect more weakness in the weeks ahead, and we cannot rule out another test of the 2022 lows.</li>
</ul>


Since early-October we have discussed our expectation for a bear rally, targeting the 200-day MAs on the $IWM and $SPX; targets were hit (within 0.5% of hitting on SPX).
We are now seeing short-term uptrend breaks on the IWM and the DJIA; this is a good time to get defensive and/or take profits, as the 1.5-month rally appears over.
We expect more weakness in the weeks ahead, and we cannot rule out another test of the 2022 lows.


Time to Get Defensive After 1.5-Month Uptrend Breaks; High Yield Spreads Widening Much Like Mid-Aug.

United States

RPM International, Inc. manufactures, markets, and sells various specialty chemical product lines. The Company's product lines include specialty paints, protective coatings and roofing systems, sealants and adhesives, focusing on the maintenance needs of both the industrial and consumer markets.

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Rpm International (RPM US)

RPM International: Will They Attain The Targeted Margin Enhancement via MAP '25 Initiative? - Major Drivers

RPM International Inc. reported its fiscal 2024 fourth quarter and full year earnings, reflecting sustained growth and positive transformations...

Baptista Research

RPM International: Investment In Asian Market & Economic Growth & 5 Fundamental Factors Driving Its Performance! - Financial Forecasts

RPM International's third-quarter fiscal 2024 results marked their ninth consecutive quarter of record sales and earnings before interest and...

Baptista Research

RPM International Inc.: How Consumer Demands Propel Exceptional Sales Growth! - Major Drivers

RPM International Inc. delivered an all-around beat in the previous quarter, with a notable 4.1% surge in consolidated sales, reaching an...

Baptista Research

RPM International Inc.: Strategies in the Booming Construction Sector! - Major Drivers

RPM International Inc. delivered a positive result and managed an all-around beat in the last quarter. Net sales for the Construction Products...

Baptista Research

Time to Get Defensive After 1.5-Month Uptrend Breaks; High Yield Spreads Widening Much Like Mid-Aug.

Our targets for this bear rally have been hit, which were the 200-day MAs on $IWM and $SPX (within 0.5%). Now seeing short-term uptrend breaks on...

Vermilion Research

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