Sherwin-Williams (NYSE:SHW) Price Target Cut to $380.00

Sherwin-Williams (NYSE:SHW) had its price objective reduced by investment analysts at Loop Capital from $395.00 to $380.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the specialty chemicals company’s stock. Loop Capital’s price target suggests a potential upside of 24.67% from the company’s previous close.

A number of other brokerages have also recently commented on SHW. StockNews.com upgraded Sherwin-Williams from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. Citigroup raised their price target on Sherwin-Williams from $360.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Wells Fargo & Company raised their price target on Sherwin-Williams from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. Evercore ISI decreased their price target on Sherwin-Williams from $385.00 to $380.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 16th. Finally, Robert W. Baird lifted their target price on Sherwin-Williams from $300.00 to $310.00 and gave the company a “neutral” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $337.37.

Sherwin-Williams Stock Up 0.4 %

SHW stock opened at $304.80 on Wednesday. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.78 and a quick ratio of 0.48. The stock has a market capitalization of $77.56 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 2.39 and a beta of 1.15. The business’s fifty day moving average price is $328.10 and its two-hundred day moving average price is $298.81. 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 the consensus estimate of $2.22 by ($0.05). The firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.50 billion. Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.04 EPS. On average, equities analysts anticipate that Sherwin-Williams will post 11.46 earnings per share for the current year.

Insider Activity

In other news, SVP Gregory P. Sofish sold 1,830 shares of Sherwin-Williams stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $320.70, for a total transaction of $586,881.00. Following the sale, the senior vice president now directly owns 6,329 shares of the company’s stock, valued at $2,029,710.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Justin T. Binns sold 1,563 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total value of $529,653.81. Following the transaction, the insider now directly owns 14,564 shares of the company’s stock, valued at $4,935,302.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Gregory P. Sofish sold 1,830 shares of Sherwin-Williams stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $320.70, for a total value of $586,881.00. Following the completion of the transaction, the senior vice president now directly owns 6,329 shares in the company, valued at $2,029,710.30. The disclosure for this sale can be found here. Over the last three months, 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.

Hedge Funds Weigh In On Sherwin-Williams

Hedge funds and other institutional investors have recently made changes to their positions in the stock. OFI Invest Asset Management acquired a new position in shares of Sherwin-Williams in the third quarter worth approximately $25,000. Union Savings Bank acquired a new position in Sherwin-Williams in the third quarter valued at approximately $28,000. First United Bank & Trust acquired a new position in Sherwin-Williams in the fourth quarter valued at approximately $31,000. Lee Financial Co acquired a new position in Sherwin-Williams in the third quarter valued at approximately $32,000. Finally, BluePath Capital Management LLC acquired a new position in Sherwin-Williams in the third quarter valued at approximately $33,000. 77.67% of the stock is owned by institutional investors and hedge funds.

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.