Sherwin-Williams (NYSE:SHW) Price Target Cut to $380.00 by Analysts at Wells Fargo & Company

Sherwin-Williams (NYSE:SHW) had its price objective lowered by Wells Fargo & Company from $400.00 to $380.00 in a report released on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the specialty chemicals company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 9.76% from the company’s previous close.

A number of other analysts also recently issued reports on SHW. Royal Bank of Canada dropped their price objective on shares of Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Robert W. Baird set a $370.00 price objective on shares of Sherwin-Williams in a research note on Friday, January 31st. Morgan Stanley decreased their target price on Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Jefferies Financial Group reiterated a “hold” rating and issued a $380.00 price target (down previously from $423.00) on shares of Sherwin-Williams in a research note on Monday, March 10th. Finally, JPMorgan Chase & Co. increased their price target on shares of Sherwin-Williams from $370.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $398.94.

Sherwin-Williams Price Performance

Shares of SHW traded down $7.46 during trading hours on Thursday, reaching $346.20. The stock had a trading volume of 911,498 shares, compared to its average volume of 1,728,918. The stock has a market capitalization of $87.07 billion, a PE ratio of 32.82, a PEG ratio of 2.98 and a beta of 1.23. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.46 and a current ratio of 0.79. Sherwin-Williams has a 12 month low of $282.09 and a 12 month high of $400.42. The company’s 50-day moving average is $353.21 and its two-hundred day moving average is $363.39.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.02. Sherwin-Williams had a return on equity of 74.50% and a net margin of 11.61%. During the same period in the previous year, the company earned $1.81 EPS. Research analysts expect that Sherwin-Williams will post 12 EPS for the current year.

Insider Buying and Selling

In related news, insider Colin M. Davie sold 2,799 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $360.30, for a total value of $1,008,479.70. Following the completion of the sale, the insider now owns 5,365 shares of the company’s stock, valued at approximately $1,933,009.50. The trade was a 34.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sherwin-Williams

Several institutional investors and hedge funds have recently added to or reduced their stakes in SHW. Legacy Capital Wealth Partners LLC grew its position in shares of Sherwin-Williams by 2.9% in 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 purchasing an additional 29 shares in the last quarter. Apella Capital LLC increased its holdings in shares of Sherwin-Williams by 2.1% during the 4th quarter. Apella Capital LLC now owns 1,465 shares of the specialty chemicals company’s stock worth $498,000 after buying an additional 30 shares during the last quarter. Atlantic Edge Private Wealth Management LLC lifted its holdings in Sherwin-Williams by 0.8% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 3,742 shares of the specialty chemicals company’s stock valued at $1,272,000 after acquiring an additional 30 shares during the last quarter. IMS Capital Management lifted its stake in shares of 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 purchasing an additional 30 shares during the last quarter. Finally, Coppell Advisory Solutions LLC increased its position in shares of Sherwin-Williams by 2.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,146 shares of the specialty chemicals company’s stock worth $388,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds 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.