Evercore ISI Lowers Sherwin-Williams (NYSE:SHW) Price Target to $400.00

Sherwin-Williams (NYSE:SHW) had its price target lowered by Evercore ISI from $410.00 to $400.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Evercore ISI’s price target would indicate a potential upside of 9.60% from the company’s previous close.

SHW has been the subject of several other research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $418.00 price objective on shares of Sherwin-Williams in a research note on Friday, August 30th. Robert W. Baird increased their price objective on shares of Sherwin-Williams from $350.00 to $360.00 and gave the company a “neutral” rating in a research note on Wednesday. UBS Group reiterated an “underperform” rating on shares of Sherwin-Williams in a research note on Friday, October 18th. The Goldman Sachs Group increased their price objective on shares of Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, BMO Capital Markets increased their price objective on shares of Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Sherwin-Williams currently has an average rating of “Moderate Buy” and a consensus target price of $387.47.

Sherwin-Williams Trading Up 1.0 %

SHW traded up $3.57 during trading on Wednesday, reaching $364.95. 349,891 shares of the stock traded hands, compared to its average volume of 1,538,410. The company has a quick ratio of 0.50, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. The stock has a market capitalization of $92.06 billion, a PE ratio of 37.13, a P/E/G ratio of 3.04 and a beta of 1.17. The stock’s 50-day moving average is $371.59 and its 200 day moving average is $334.45. Sherwin-Williams has a 12 month low of $232.06 and a 12 month high of $392.57.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The business had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the prior year, the company earned $3.20 EPS. The company’s revenue was up .7% on a year-over-year basis. Equities analysts anticipate that Sherwin-Williams will post 11.49 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the completion of the transaction, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at $23,301,041.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Sherwin-Williams

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tamar Securities LLC grew its holdings in shares of Sherwin-Williams by 3.4% during the third quarter. Tamar Securities LLC now owns 48,753 shares of the specialty chemicals company’s stock valued at $18,608,000 after buying an additional 1,604 shares during the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Sherwin-Williams by 7.9% during the second quarter. Valeo Financial Advisors LLC now owns 2,636 shares of the specialty chemicals company’s stock valued at $787,000 after buying an additional 193 shares during the last quarter. Transcend Capital Advisors LLC grew its holdings in shares of Sherwin-Williams by 24.1% during the second quarter. Transcend Capital Advisors LLC now owns 7,805 shares of the specialty chemicals company’s stock valued at $2,329,000 after buying an additional 1,514 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Sherwin-Williams by 4.3% during the third quarter. Handelsbanken Fonder AB now owns 98,118 shares of the specialty chemicals company’s stock valued at $37,449,000 after buying an additional 4,074 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Sherwin-Williams by 17.3% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 20,592 shares of the specialty chemicals company’s stock valued at $7,152,000 after buying an additional 3,031 shares during the last quarter. Hedge funds and other institutional investors 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.