Sherwin-Williams (NYSE:SHW) Price Target Cut to $405.00 by Analysts at Morgan Stanley

Sherwin-Williams (NYSE:SHW) had its target price reduced by research analysts at Morgan Stanley from $450.00 to $405.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the specialty chemicals company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 11.18% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Citigroup cut their price objective on shares of Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Berenberg Bank raised Sherwin-Williams from a “hold” rating to a “buy” rating and raised their price target for the stock from $321.00 to $420.00 in a report on Friday. StockNews.com lowered Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Mizuho cut their target price on Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company upped their price target on Sherwin-Williams from $350.00 to $400.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $400.65.

Sherwin-Williams Price Performance

NYSE SHW opened at $364.28 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 1.97. The company has a market cap of $91.74 billion, a PE ratio of 36.28, a price-to-earnings-growth ratio of 2.78 and a beta of 1.22. Sherwin-Williams has a 52 week low of $282.09 and a 52 week high of $400.42. The firm’s 50-day simple moving average is $361.22 and its two-hundred day simple moving average is $362.38.

Insider Transactions at Sherwin-Williams

In other news, SVP Gregory P. Sofish sold 2,565 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $378.63, for a total value of $971,185.95. Following the completion of the sale, the senior vice president now owns 6,329 shares of the company’s stock, valued at approximately $2,396,349.27. This represents a 28.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mary L. Garceau sold 15,770 shares of Sherwin-Williams stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $397.92, for a total transaction of $6,275,198.40. Following the completion of the transaction, the senior vice president now owns 29,205 shares in the company, valued at approximately $11,621,253.60. The trade was a 35.06 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Quarry LP increased its stake in Sherwin-Williams by 436.9% in the 2nd quarter. Quarry LP now owns 451 shares of the specialty chemicals company’s stock worth $135,000 after purchasing an additional 367 shares during the period. Regal Investment Advisors LLC increased its stake in shares of Sherwin-Williams by 5.0% in the second quarter. Regal Investment Advisors LLC now owns 2,714 shares of the specialty chemicals company’s stock worth $810,000 after buying an additional 130 shares during the period. EP Wealth Advisors LLC raised its holdings in Sherwin-Williams by 4.5% during the 2nd quarter. EP Wealth Advisors LLC now owns 3,896 shares of the specialty chemicals company’s stock valued at $1,163,000 after buying an additional 166 shares during the last quarter. Truist Financial Corp boosted its position in Sherwin-Williams by 0.9% during the 2nd quarter. Truist Financial Corp now owns 52,204 shares of the specialty chemicals company’s stock valued at $15,579,000 after buying an additional 446 shares during the period. Finally, Advisory Alpha LLC boosted its position in Sherwin-Williams by 0.6% during the 2nd quarter. Advisory Alpha LLC now owns 5,585 shares of the specialty chemicals company’s stock valued at $1,667,000 after buying an additional 36 shares during the period. Hedge funds and other institutional investors own 77.67% of the company’s stock.

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.