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

Sherwin-Williams (NYSE:SHW) had its price objective reduced by equities research 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 would indicate a potential upside of 16.16% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Robert W. Baird upped their price target on Sherwin-Williams from $350.00 to $360.00 and gave the company a “neutral” rating in a research report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $418.00 price target on shares of Sherwin-Williams in a research report on Friday, August 30th. BMO Capital Markets upped their price target on Sherwin-Williams from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Morgan Stanley increased their price objective on Sherwin-Williams from $375.00 to $450.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, KeyCorp reissued a “sector weight” rating on shares of Sherwin-Williams in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Sherwin-Williams Trading Down 0.3 %

SHW traded down $1.16 during trading on Thursday, hitting $361.56. The company’s stock had a trading volume of 81,681 shares, compared to its average volume of 1,538,418. The firm has a market capitalization of $91.67 billion, a P/E ratio of 38.53, a PEG ratio of 2.87 and a beta of 1.17. Sherwin-Williams has a twelve month low of $232.06 and a twelve month high of $392.57. The stock’s fifty day moving average price is $371.81 and its 200-day moving average price is $334.64. 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 data 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). The business had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $3.20 EPS. Analysts anticipate that Sherwin-Williams will post 11.31 EPS for the current year.

Insider Transactions at Sherwin-Williams

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the completion of the transaction, the chief financial officer now directly owns 63,520 shares in the company, valued at $23,301,041.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.60% of the company’s stock.

Institutional Trading of Sherwin-Williams

A number of institutional investors and hedge funds have recently modified their holdings of SHW. Griffin Asset Management Inc. boosted its holdings in Sherwin-Williams by 0.3% in the 3rd quarter. Griffin Asset Management Inc. now owns 9,296 shares of the specialty chemicals company’s stock valued at $3,548,000 after purchasing an additional 26 shares during the last quarter. Allworth Financial LP boosted its stake in Sherwin-Williams by 1.8% during the 3rd quarter. Allworth Financial LP now owns 1,560 shares of the specialty chemicals company’s stock worth $595,000 after purchasing an additional 28 shares during the period. Conning Inc. boosted its stake in Sherwin-Williams by 1.9% during the 2nd quarter. Conning Inc. now owns 1,606 shares of the specialty chemicals company’s stock worth $479,000 after purchasing an additional 30 shares during the period. Oxbow Advisors LLC lifted its stake in shares of Sherwin-Williams by 4.5% in the 2nd quarter. Oxbow Advisors LLC now owns 690 shares of the specialty chemicals company’s stock worth $206,000 after acquiring an additional 30 shares during the period. Finally, Global X Japan Co. Ltd. lifted its stake in shares of Sherwin-Williams by 2.2% in the 2nd quarter. Global X Japan Co. Ltd. now owns 1,403 shares of the specialty chemicals company’s stock worth $419,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 77.67% of the company’s stock.

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.