Sherwin-Williams (NYSE:SHW) Price Target Cut to $380.00

Sherwin-Williams (NYSE:SHW) had its price objective cut by equities researchers at Loop Capital from $395.00 to $380.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the specialty chemicals company’s stock. Loop Capital’s price objective suggests a potential upside of 24.67% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. Evercore ISI dropped their price objective on shares of Sherwin-Williams from $385.00 to $380.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. Wolfe Research initiated coverage on shares of Sherwin-Williams in a report on Friday, March 1st. They issued a “peer perform” rating on the stock. Barclays increased their price objective on shares of Sherwin-Williams from $285.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Mizuho dropped their price objective on shares of Sherwin-Williams from $352.00 to $340.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Finally, Seaport Res Ptn cut shares of Sherwin-Williams from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $337.37.

Sherwin-Williams Stock Up 0.4 %

Shares of NYSE:SHW opened at $304.80 on Wednesday. The stock has a market capitalization of $77.56 billion, a price-to-earnings ratio of 32.49, a price-to-earnings-growth ratio of 2.39 and a beta of 1.15. Sherwin-Williams has a 1-year low of $221.76 and a 1-year high of $348.37. The company’s fifty day moving average is $328.10 and its two-hundred day moving average is $298.81. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.48 and a current ratio of 0.78.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.50 billion. Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the company posted $2.04 earnings per share. Equities analysts anticipate that Sherwin-Williams will post 11.46 EPS for the current year.

Insider Activity

In other news, SVP Gregory P. Sofish sold 1,830 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $320.70, for a total transaction of $586,881.00. Following the completion of the transaction, the senior vice president now owns 6,329 shares in the company, valued at approximately $2,029,710.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Justin T. Binns sold 1,563 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total transaction of $529,653.81. Following the completion of the transaction, the insider now owns 14,564 shares in the company, valued at approximately $4,935,302.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Gregory P. Sofish sold 1,830 shares of the firm’s 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 completion of the transaction, the senior vice president now owns 6,329 shares of the company’s stock, valued at $2,029,710.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,050 shares of company stock worth $10,340,237. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SHW. Exchange Traded Concepts LLC boosted its holdings in shares of Sherwin-Williams by 9,310.0% in the third quarter. Exchange Traded Concepts LLC now owns 941 shares of the specialty chemicals company’s stock worth $240,000 after buying an additional 931 shares during the period. Caprock Group LLC boosted its holdings in shares of Sherwin-Williams by 6.0% in the third quarter. Caprock Group LLC now owns 3,556 shares of the specialty chemicals company’s stock worth $907,000 after buying an additional 201 shares during the period. Proficio Capital Partners LLC boosted its holdings in shares of Sherwin-Williams by 6.8% in the third quarter. Proficio Capital Partners LLC now owns 1,068 shares of the specialty chemicals company’s stock worth $272,000 after buying an additional 68 shares during the period. SS&H Financial Advisors Inc. acquired a new position in shares of Sherwin-Williams in the third quarter worth about $4,443,000. Finally, UMB Bank n.a. lifted its position in shares of 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 worth $2,906,000 after purchasing an additional 336 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.

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.