Citigroup Issues Pessimistic Forecast for Sherwin-Williams (NYSE:SHW) Stock Price

Sherwin-Williams (NYSE:SHW) had its price target decreased by stock analysts at Citigroup from $423.00 to $375.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the specialty chemicals company’s stock. Citigroup’s price target indicates a potential upside of 19.64% from the company’s current price.

Several other research analysts have also recently issued reports on the company. Mizuho dropped their price target on Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Wells Fargo & Company dropped their price objective on shares of Sherwin-Williams from $400.00 to $380.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 3rd. Royal Bank of Canada cut their price target on Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. UBS Group decreased their price objective on shares of Sherwin-Williams from $430.00 to $400.00 and set a “buy” rating for the company in a report on Monday. Finally, Morgan Stanley lowered their price objective on Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $395.19.

Sherwin-Williams Stock Performance

NYSE:SHW traded down $9.37 during mid-day trading on Tuesday, hitting $313.44. The stock had a trading volume of 2,976,923 shares, compared to its average volume of 1,762,454. Sherwin-Williams has a 52 week low of $282.09 and a 52 week high of $400.42. The stock has a market capitalization of $78.83 billion, a price-to-earnings ratio of 29.71, a P/E/G ratio of 2.98 and a beta of 1.26. The company has a 50 day simple moving average of $351.42 and a 200-day simple moving average of $362.31. The company has a current ratio of 0.79, a quick ratio of 0.46 and a debt-to-equity ratio of 2.02.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.02. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. During the same period last year, the firm posted $1.81 earnings per share. On average, research analysts expect that Sherwin-Williams will post 12 earnings per share for the current fiscal year.

Insider Transactions at Sherwin-Williams

In related news, insider Colin M. Davie sold 2,799 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $360.30, for a total transaction of $1,008,479.70. Following the completion of the sale, the insider now directly owns 5,365 shares of the company’s stock, valued at $1,933,009.50. This trade represents a 34.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by insiders.

Institutional Trading of Sherwin-Williams

Large investors have recently made changes to their positions in the business. Legacy Capital Wealth Partners LLC lifted its stake in shares of Sherwin-Williams by 2.9% during the fourth quarter. Legacy Capital Wealth Partners LLC now owns 1,028 shares of the specialty chemicals company’s stock valued at $350,000 after acquiring an additional 29 shares during the period. Apella Capital LLC boosted its holdings in shares of Sherwin-Williams by 2.1% in the fourth quarter. Apella Capital LLC now owns 1,465 shares of the specialty chemicals company’s stock valued at $498,000 after buying an additional 30 shares during the period. Atlantic Edge Private Wealth Management LLC increased its holdings in Sherwin-Williams by 0.8% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 3,742 shares of the specialty chemicals company’s stock worth $1,272,000 after purchasing an additional 30 shares in the last quarter. IMS Capital Management raised its position in Sherwin-Williams by 2.4% in the 4th quarter. IMS Capital Management now owns 1,287 shares of the specialty chemicals company’s stock valued at $437,000 after buying an additional 30 shares during the last quarter. Finally, Coppell Advisory Solutions LLC raised its holdings in shares of Sherwin-Williams by 2.7% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,146 shares of the specialty chemicals company’s stock valued at $388,000 after purchasing an additional 30 shares during the last quarter. 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.