Sherwin-Williams (NYSE:SHW) Price Target Cut to $420.00

Sherwin-Williams (NYSE:SHW) had its price objective decreased by investment analysts at Citigroup from $430.00 to $420.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the specialty chemicals company’s stock. Citigroup’s price objective suggests a potential upside of 16.98% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Robert W. Baird raised their price target on shares of Sherwin-Williams from $350.00 to $360.00 and gave the company a “neutral” rating in a research note on Wednesday. Barclays boosted their price objective on Sherwin-Williams from $355.00 to $370.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Jefferies Financial Group raised their target price on Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Finally, UBS Group reaffirmed an “underperform” rating on shares of Sherwin-Williams in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Sherwin-Williams presently has a consensus rating of “Moderate Buy” and a consensus price target of $395.29.

Sherwin-Williams Stock Performance

Shares of SHW stock opened at $359.04 on Thursday. The company has a market cap of $91.03 billion, a P/E ratio of 38.28, a PEG ratio of 2.87 and a beta of 1.17. The business has a 50 day moving average of $371.91 and a two-hundred day moving average of $334.83. Sherwin-Williams has a 52 week low of $232.06 and a 52 week high of $392.57. The company has a quick ratio of 0.50, a current ratio of 0.83 and a debt-to-equity ratio of 1.97.

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

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction that occurred 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 owns 63,520 shares in the company, valued at approximately $23,301,041.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Sherwin-Williams

A number of hedge funds have recently modified their holdings of SHW. GHP Investment Advisors Inc. boosted its position in shares of Sherwin-Williams by 47.5% in the 3rd quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 28 shares during the period. HHM Wealth Advisors LLC lifted its stake in Sherwin-Williams by 102.3% during the second quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 45 shares in the last quarter. Semmax Financial Advisors Inc. boosted its holdings in shares of Sherwin-Williams by 136.4% in the second quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 60 shares during the period. VitalStone Financial LLC increased its position in shares of Sherwin-Williams by 233.3% in the second quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 77 shares in the last quarter. Finally, Anfield Capital Management LLC acquired a new stake in shares of Sherwin-Williams during the second quarter valued at approximately $38,000. 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.