Sherwin-Williams (NYSE:SHW) Price Target Cut to $370.00 by Analysts at Citigroup

Sherwin-Williams (NYSE:SHW) had its price target dropped by equities research analysts at Citigroup from $390.00 to $370.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. Citigroup’s price target indicates a potential upside of 21.39% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada reduced their price target on Sherwin-Williams from $380.00 to $370.00 and set an “outperform” rating on the stock in a research report on Thursday. StockNews.com raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating in a report on Friday, March 8th. JPMorgan Chase & Co. lowered their price target on shares of Sherwin-Williams from $317.00 to $315.00 and set an “overweight” rating on the stock in a report on Wednesday. Robert W. Baird upped their price target on shares of Sherwin-Williams from $300.00 to $310.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Loop Capital reduced their price target on shares of Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $337.37.

Sherwin-Williams Trading Up 0.4 %

Shares of NYSE:SHW traded up $1.07 during trading hours on Thursday, hitting $304.80. 2,004,847 shares of the company’s stock traded hands, compared to its average volume of 1,461,671. Sherwin-Williams has a 1 year low of $221.76 and a 1 year high of $348.37. The business has a fifty day moving average price of $328.26 and a 200-day moving average price of $298.77. The firm has a market capitalization of $77.56 billion, a P/E ratio of 32.49, a price-to-earnings-growth ratio of 2.39 and a beta of 1.15. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.78 and a quick ratio of 0.48.

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

Insider Buying and Selling

In related news, SVP Gregory P. Sofish sold 1,830 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,029,710.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Sherwin-Williams news, SVP Mary L. Garceau sold 23,518 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $322.66, for a total value of $7,588,317.88. Following the completion of the transaction, the senior vice president now owns 28,475 shares of the company’s stock, valued at approximately $9,187,743.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Gregory P. Sofish sold 1,830 shares of the firm’s stock in a transaction that occurred on 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 directly owns 6,329 shares of the company’s stock, valued at approximately $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 valued at $10,340,237. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Sherwin-Williams

Several institutional investors have recently modified their holdings of the company. First United Bank & Trust acquired a new stake in Sherwin-Williams during the 4th quarter worth $31,000. OFI Invest Asset Management acquired a new stake in Sherwin-Williams during the 3rd quarter worth $25,000. Tortoise Investment Management LLC raised its stake in Sherwin-Williams by 158.5% during the 4th quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 65 shares in the last quarter. Union Savings Bank acquired a new stake in Sherwin-Williams during the 3rd quarter worth $28,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in Sherwin-Williams during the 4th quarter worth $35,000. 77.67% of the stock is owned by hedge funds and other institutional investors.

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.