Sherwin-Williams (NYSE:SHW) Price Target Cut to $400.00

Sherwin-Williams (NYSE:SHW) had its price objective decreased by analysts at Evercore ISI from $410.00 to $400.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Evercore ISI’s price target would suggest a potential upside of 10.62% from the stock’s previous close.

Several other research firms also recently weighed in on SHW. Barclays lifted their target price on Sherwin-Williams from $355.00 to $370.00 and gave the company an “equal weight” rating in a research report on Wednesday. The Goldman Sachs Group upped their target price on shares of Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. BMO Capital Markets boosted their price target on shares of Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Jefferies Financial Group increased their price objective on Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Finally, Morgan Stanley boosted their target price on Sherwin-Williams from $375.00 to $450.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sherwin-Williams currently has an average rating of “Moderate Buy” and a consensus price target of $395.29.

Sherwin-Williams Price Performance

Sherwin-Williams stock opened at $361.59 on Wednesday. The company’s 50 day simple moving average is $371.81 and its 200-day simple moving average is $334.64. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.50 and a current ratio of 0.83. Sherwin-Williams has a 1 year low of $232.06 and a 1 year high of $392.57. The company has a market capitalization of $91.68 billion, a price-to-earnings ratio of 38.55, a price-to-earnings-growth ratio of 2.87 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The firm had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.20 billion. During the same period in the previous year, the firm earned $3.20 EPS. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, equities research analysts expect that Sherwin-Williams will post 11.31 earnings per share for the current year.

Insider Buying and Selling at Sherwin-Williams

In other news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction on 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 transaction, the chief financial officer now directly owns 63,520 shares of the company’s stock, valued at $23,301,041.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.60% of the stock is owned by company insiders.

Institutional Trading of Sherwin-Williams

A number of hedge funds have recently added to or reduced their stakes in SHW. Nisa Investment Advisors LLC raised its stake in shares of Sherwin-Williams by 0.4% during the third quarter. Nisa Investment Advisors LLC now owns 97,401 shares of the specialty chemicals company’s stock worth $37,175,000 after purchasing an additional 385 shares during the last quarter. Welch Group LLC increased its stake in Sherwin-Williams by 4.5% in the 3rd quarter. Welch Group LLC now owns 20,353 shares of the specialty chemicals company’s stock valued at $7,768,000 after buying an additional 881 shares during the period. Smithbridge Asset Management Inc. DE raised its position in Sherwin-Williams by 75.9% during the 3rd quarter. Smithbridge Asset Management Inc. DE now owns 20,194 shares of the specialty chemicals company’s stock worth $7,707,000 after buying an additional 8,712 shares during the last quarter. West Bancorporation Inc. acquired a new stake in shares of Sherwin-Williams in the 3rd quarter worth $235,000. Finally, J.W. Cole Advisors Inc. boosted its holdings in shares of Sherwin-Williams by 19.9% in the third quarter. J.W. Cole Advisors Inc. now owns 1,116 shares of the specialty chemicals company’s stock valued at $426,000 after acquiring an additional 185 shares in the last quarter. 77.67% of the stock is owned by institutional investors and hedge funds.

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.