RPM International Inc. (NYSE:RPM) reported worse-than-expected third-quarter financial results on Tuesday.

Sales declined 3% year over year to $1.48 billion, missing the consensus of $1.51 billion. Adjusted EPS was 35 cents, missing the consensus of 49 cents.

Frank C. Sullivan, RPM chairman and CEO said, "Unseasonably cold weather in the southern U.S. and wildfires in the west reduced demand in geographies that typically have more construction and outdoor project activity in winter months."

"As we look toward the fourth quarter, macroeconomic conditions are challenging, but we are seeing pockets of positive momentum and are leveraging our focus on repair and maintenance in both construction and consumer end markets. As demonstrated in prior economic cycles, the ability of our products and services to extend asset life becomes even more attractive to end users when budgets are tight."

For the fourth quarter, RPM expects consolidated sales to remain flat compared to prior-year records.

RPM shares dipped 9.1% to close at $96.97 on Tuesday.

These analysts made changes to their price targets on RPM International following earnings announcement.

• Baird analyst Ghansham Panjabi maintained RPM Intl with a Neutral and lowered the price target from $125 to $110.
• BMO Capital analyst John McNulty maintained the stock with an Outperform rating and lowered the price target from $154 to $126.
• Morgan Stanley analyst Vincent Sinisi maintained RPM with an Equal-Weight rating and cut the price target from $125 to $113.

Considering buying RPM stock? Here’s what analysts think:

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