Citigroup Cuts CSW Industrials (NYSE:CSW) Price Target to $261.00

Key Points

• Citigroup reduced its target price for CSW Industrials from $269.00 to $261.00, anticipating a 7.81% upside from the company's previous close while maintaining a "neutral" rating.
• Other analysts have varied opinions, with Zacks upgrading the stock to "strong-buy," while Wells Fargo and JPMorgan cut their price targets to $285.00 and $290.00 respectively.
• CSW Industrials experienced a decline in stock price, closing at $242.09, and reported earnings of $2.85 per share for the last quarter, beating estimates but adjusting revenues below expectations.

CSW Industrials (NYSE:CSW - Get Free Report) had its target price lowered by stock analysts at Citigroup from $269.00 to $261.00 in a report released on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the basic materials company's stock. Citigroup's target price points to a potential upside of 7.81% from the company's previous close.

Other equities analysts have also issued research reports about the stock. Zacks Research upgraded shares of CSW Industrials from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 2nd. Wells Fargo & Company dropped their price objective on shares of CSW Industrials from $305.00 to $285.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. JPMorgan Chase & Co. dropped their price objective on shares of CSW Industrials from $320.00 to $290.00 and set a "neutral" rating on the stock in a report on Friday, October 3rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of CSW Industrials in a report on Saturday, September 27th. Finally, Truist Financial upped their price objective on shares of CSW Industrials from $273.00 to $276.00 and gave the company a "hold" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, CSW Industrials presently has an average rating of "Hold" and an average target price of $302.40.

CSW Industrials Stock Performance

CSW traded down $7.41 during trading on Thursday, hitting $242.09. 64,580 shares of the company traded hands, compared to its average volume of 131,873. The firm has a market cap of $4.07 billion, a P/E ratio of 28.92 and a beta of 0.92. The stock's fifty day moving average is $257.83 and its 200 day moving average is $286.43. The company has a quick ratio of 1.48, a current ratio of 2.86 and a debt-to-equity ratio of 0.09. CSW Industrials has a one year low of $238.49 and a one year high of $436.50.

CSW Industrials (NYSE:CSW - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.23. The company had revenue of $263.65 million during the quarter, compared to analyst estimates of $278.27 million. CSW Industrials had a net margin of 15.18% and a return on equity of 13.78%. As a group, equities analysts predict that CSW Industrials will post 8.49 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert M. Swartz sold 200 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $250.37, for a total transaction of $50,074.00. Following the sale, the director directly owned 12,319 shares in the company, valued at $3,084,308.03. This represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP James E. Perry sold 145 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $275.05, for a total value of $39,882.25. Following the sale, the executive vice president owned 25,178 shares in the company, valued at approximately $6,925,208.90. This represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,412 shares of company stock valued at $1,497,397. Corporate insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Bailard Inc. increased its position in shares of CSW Industrials by 2.0% in the first quarter. Bailard Inc. now owns 1,705 shares of the basic materials company's stock worth $497,000 after purchasing an additional 33 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in CSW Industrials by 1.1% in the first quarter. Sequoia Financial Advisors LLC now owns 3,122 shares of the basic materials company's stock worth $910,000 after buying an additional 34 shares in the last quarter. Fifth Third Bancorp boosted its stake in CSW Industrials by 9.3% in the first quarter. Fifth Third Bancorp now owns 401 shares of the basic materials company's stock worth $117,000 after buying an additional 34 shares in the last quarter. TCTC Holdings LLC boosted its stake in CSW Industrials by 2.2% in the first quarter. TCTC Holdings LLC now owns 1,882 shares of the basic materials company's stock worth $549,000 after buying an additional 41 shares in the last quarter. Finally, Matrix Trust Co boosted its stake in CSW Industrials by 91.1% in the second quarter. Matrix Trust Co now owns 86 shares of the basic materials company's stock worth $25,000 after buying an additional 41 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors.

About CSW Industrials

CSW Industrials, Inc operates as a diversified industrial company in the United States and internationally. It operates through three segments: Contractor Solutions, Engineered Building Solutions, and Specialized Reliability Solutions. The Contractor Solutions segment provides condensate pads, pans, pumps, switches, and traps; cements, diffusers, grilles, registers, solvents, thread sealants, and vents; line set covers; refrigerant caps; wire pulling head tools; electrical protection, chemical maintenance, and installation supplies for HVAC; ductless mini-split systems installation support tools and accessories; and drain waste and vent system products for use in HVAC/R, plumbing, general industrial, architecturally specified building products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.