Sherwin-Williams (NYSE:SHW) Price Target Cut to $370.00

Sherwin-Williams (NYSE:SHW) had its target price lowered by stock analysts at Royal Bank of Canada from $380.00 to $370.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 20.74% from the company’s previous close.

Other analysts have also issued research reports about the company. StockNews.com raised Sherwin-Williams from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. Wolfe Research began coverage on Sherwin-Williams in a research report on Friday, March 1st. They set a “peer perform” rating on the stock. Citigroup upped their price objective on Sherwin-Williams from $360.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. BMO Capital Markets reaffirmed an “outperform” rating and set a $377.00 price objective (down previously from $385.00) on shares of Sherwin-Williams in a research report on Wednesday. Finally, Northcoast Research raised Sherwin-Williams from a “neutral” rating to a “buy” rating and set a $360.00 price objective on the stock in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $337.37.

Sherwin-Williams Stock Up 0.5 %

Shares of NYSE SHW opened at $306.45 on Thursday. The firm has a market cap of $77.98 billion, a price-to-earnings ratio of 32.67, a PEG ratio of 2.41 and a beta of 1.15. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 2.32. Sherwin-Williams has a 52-week low of $221.76 and a 52-week high of $348.37. The business’s 50 day moving average is $328.05 and its two-hundred day moving average is $299.19.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Sherwin-Williams had a net margin of 10.52% and a return on equity of 73.74%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.04 EPS. Research analysts predict that Sherwin-Williams will post 11.44 EPS for the current year.

Insider Buying and Selling at Sherwin-Williams

In other Sherwin-Williams news, SVP Gregory P. Sofish sold 1,830 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were 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 owns 6,329 shares in the company, valued at $2,029,710.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Todd D. Rea sold 2,449 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction of $767,859.46. Following the completion of the sale, the insider now owns 9,329 shares in the company, valued at $2,925,014.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Gregory P. Sofish sold 1,830 shares of the 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 owns 6,329 shares of the company’s stock, valued at approximately $2,029,710.30. The disclosure for this sale can be found here. Insiders sold 32,050 shares of company stock worth $10,340,237 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SHW. Exchange Traded Concepts LLC raised its holdings in Sherwin-Williams by 9,310.0% during the third quarter. Exchange Traded Concepts LLC now owns 941 shares of the specialty chemicals company’s stock worth $240,000 after purchasing an additional 931 shares in the last quarter. Caprock Group LLC increased its holdings 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 buying an additional 201 shares in the last quarter. UMB Bank n.a. increased its holdings in Sherwin-Williams by 3.0% in the third quarter. UMB Bank n.a. now owns 11,393 shares of the specialty chemicals company’s stock valued at $2,906,000 after buying an additional 336 shares in the last quarter. Oak Thistle LLC purchased a new position in Sherwin-Williams in the third quarter valued at about $353,000. Finally, Czech National Bank increased its holdings in Sherwin-Williams by 48.8% in the third quarter. Czech National Bank now owns 41,348 shares of the specialty chemicals company’s stock valued at $10,546,000 after buying an additional 13,558 shares in the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.

About Sherwin-Williams

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.