Sherwin-Williams (NYSE:SHW) Price Target Cut to $315.00

Sherwin-Williams (NYSE:SHW) had its target price lowered by analysts at JPMorgan Chase & Co. from $317.00 to $315.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 3.35% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. Evercore ISI dropped their target price on shares of Sherwin-Williams from $385.00 to $380.00 and set an “outperform” rating for the company in a report on Tuesday, April 16th. Seaport Res Ptn lowered shares of Sherwin-Williams from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Loop Capital dropped their target price on shares of Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup upped their target price on shares of Sherwin-Williams from $360.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, Royal Bank of Canada dropped their price objective on shares of Sherwin-Williams from $346.00 to $341.00 and set an “outperform” rating for the company in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $337.37.

Sherwin-Williams Stock Performance

NYSE:SHW opened at $304.80 on Wednesday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.48 and a current ratio of 0.78. The company has a fifty day moving average of $328.10 and a two-hundred day moving average of $298.81. The stock has a market capitalization of $77.56 billion, a PE ratio of 32.49, a P/E/G ratio of 2.39 and a beta of 1.15. Sherwin-Williams has a fifty-two week low of $221.76 and a fifty-two week high of $348.37.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). The company had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.50 billion. Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.04 earnings per share. As a group, research analysts forecast that Sherwin-Williams will post 11.46 earnings per share for the current fiscal year.

Insider Transactions at Sherwin-Williams

In other news, SVP Gregory P. Sofish sold 1,830 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $320.70, for a total transaction of $586,881.00. Following the sale, the senior vice president now owns 6,329 shares of the company’s stock, valued at $2,029,710.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Justin T. Binns sold 1,563 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total value of $529,653.81. Following the sale, the insider now owns 14,564 shares of the company’s stock, valued at $4,935,302.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Gregory P. Sofish sold 1,830 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $320.70, for a total transaction of $586,881.00. Following the completion of the sale, the senior vice president now directly owns 6,329 shares in the company, valued at approximately $2,029,710.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,050 shares of company stock valued at $10,340,237. 0.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Sherwin-Williams

Several hedge funds have recently added to or reduced their stakes in SHW. Exchange Traded Concepts LLC increased its stake in Sherwin-Williams by 9,310.0% in the third quarter. Exchange Traded Concepts LLC now owns 941 shares of the specialty chemicals company’s stock valued at $240,000 after purchasing an additional 931 shares during the last quarter. Caprock Group LLC increased its stake in Sherwin-Williams by 6.0% in the third quarter. Caprock Group LLC now owns 3,556 shares of the specialty chemicals company’s stock valued at $907,000 after purchasing an additional 201 shares during the last quarter. Proficio Capital Partners LLC increased its stake in Sherwin-Williams by 6.8% in the third quarter. Proficio Capital Partners LLC now owns 1,068 shares of the specialty chemicals company’s stock valued at $272,000 after purchasing an additional 68 shares during the last quarter. SS&H Financial Advisors Inc. purchased a new position in Sherwin-Williams in the third quarter valued at approximately $4,443,000. Finally, UMB Bank n.a. grew its position in shares of Sherwin-Williams by 3.0% during the third quarter. UMB Bank n.a. now owns 11,393 shares of the specialty chemicals company’s stock worth $2,906,000 after acquiring an additional 336 shares during the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.

Sherwin-Williams Company Profile

The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.