Upgrade Alert for Schulman (SHLM)
Schulman (NASDAQ:SHLM) was upgraded from Hold to Buy at Gabelli & Co today. The stock closed yesterday at $28.62 on volume of 384,000 shares, above average daily volume of 235,000.
Potential upside of 45.8% exists for Schulman, based on a current level of $28.57 and analysts' average consensus price target of $41.67. The stock should hit resistance at its 200-day moving average (MA) of $30.33, as well as support at its 50-day MA of $26.51.
A. Schulman, Inc. supplies plastic compounds and resins which are used as raw materials by its customers. The Company combines basic resins purchased from basic resin producers and enhances them with additives. Schulman generally produces compounds to meet customer requirements and on the basis of customer commitments, but also buys and then resells prime and off-grade plastic resins.
In the past 52 weeks, Schulman share prices have been bracketed by a low of $19.58 and a high of $46.40 and closed yesterday at $28.57, 46% above that low price. The 200-day and 50-day moving averages have moved 0.77% lower and 0.78% higher over the past week, respectively.
SmarTrend is tracking the current trend status for Schulman and will alert subscribers who have SHLM in their portfolio or watchlist when shares have changed trend direction.
Keywords: analyst upgrades/downgrades schulman