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

Sherwin-Williams (NYSE:SHW - Get Free Report) had its price target reduced by stock analysts at Citigroup from $390.00 to $370.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a "buy" rating on the specialty chemicals company's stock. Citigroup's price objective would suggest a potential upside of 21.39% from the stock's previous close.

Several other research firms have also recently issued reports on SHW. Wells Fargo & Company lifted their price objective on shares of Sherwin-Williams from $310.00 to $320.00 and gave the stock an "equal weight" rating in a research report on Friday, January 26th. Wolfe Research assumed coverage on shares of Sherwin-Williams in a research note on Friday, March 1st. They set a "peer perform" rating on the stock. KeyCorp upgraded shares of Sherwin-Williams from a "sector weight" rating to an "overweight" rating and set a $400.00 price target on the stock in a research note on Thursday. Robert W. Baird upped their target price on shares of Sherwin-Williams from $300.00 to $310.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Royal Bank of Canada reduced their price target on shares of Sherwin-Williams from $380.00 to $370.00 and set an "outperform" rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $337.37.

Sherwin-Williams Price Performance

Sherwin-Williams stock traded up $1.07 during midday trading on Thursday, reaching $304.80. The company had a trading volume of 2,004,847 shares, compared to its average volume of 1,461,671. The company has a market capitalization of $77.56 billion, a P/E ratio of 32.49, a P/E/G ratio of 2.39 and a beta of 1.15. Sherwin-Williams has a 12-month low of $221.76 and a 12-month high of $348.37. The firm's fifty day simple moving average is $328.26 and its 200-day simple moving average is $298.77. 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 - Get Free Report) 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). Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same quarter in the prior year, the business earned $2.04 EPS. The firm's quarterly revenue was down 1.4% on a year-over-year basis. As a group, equities analysts anticipate that Sherwin-Williams will post 11.46 EPS for the current year.

Insider Buying and Selling at Sherwin-Williams

In other 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 transaction of $7,588,317.88. Following the completion of the sale, the senior vice president now owns 28,475 shares in the company, valued at approximately $9,187,743.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related 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 directly owns 28,475 shares of the company's stock, valued at approximately $9,187,743.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Todd D. Rea sold 2,449 shares of the firm's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total transaction of $767,859.46. Following the completion of the transaction, the insider now directly owns 9,329 shares of the company's stock, valued at $2,925,014.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,050 shares of company stock worth $10,340,237. Insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Sherwin-Williams

A number of large investors have recently added to or reduced their stakes in the business. First Hawaiian Bank raised its position in Sherwin-Williams by 0.5% in the 4th quarter. First Hawaiian Bank now owns 7,559 shares of the specialty chemicals company's stock worth $2,358,000 after purchasing an additional 34 shares during the period. Tsfg LLC boosted its stake in shares of Sherwin-Williams by 4.7% during the 4th quarter. Tsfg LLC now owns 754 shares of the specialty chemicals company's stock valued at $235,000 after purchasing an additional 34 shares in the last quarter. Manchester Capital Management LLC boosted its stake in Sherwin-Williams by 5.5% during the fourth quarter. Manchester Capital Management LLC now owns 666 shares of the specialty chemicals company's stock worth $208,000 after acquiring an additional 35 shares in the last quarter. Tealwood Asset Management Inc. boosted its stake in Sherwin-Williams by 0.7% during the first quarter. Tealwood Asset Management Inc. now owns 4,913 shares of the specialty chemicals company's stock worth $1,706,000 after acquiring an additional 35 shares in the last quarter. Finally, Ellsworth Advisors LLC lifted its stake in shares of Sherwin-Williams by 0.9% in the fourth quarter. Ellsworth Advisors LLC now owns 4,108 shares of the specialty chemicals company's stock worth $1,281,000 after buying an additional 36 shares in the last quarter. 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.

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