Sherwin-Williams (NYSE:SHW) Price Target Cut to $365.00 by Analysts at Bank of America

Key Points

• Bank of America cut its price target on Sherwin-Williams to $365 from $370 and kept a "neutral" rating, implying roughly a 7.5% upside from the current price.
• Several other major brokers have recently trimmed targets, but the consensus remains a "Moderate Buy" with an average target of about $379.54; shares traded at $339.55 (down 1.3%) with a market cap of about $84 billion and a P/E of 33.07.
• Sherwin‑Williams beat quarterly expectations, reporting $2.23 EPS versus $2.16 expected and revenue of $5.60 billion, up 5.6% year‑over‑year.

Sherwin-Williams (NYSE:SHW - Get Free Report) had its price objective decreased by analysts at Bank of America from $370.00 to $365.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the specialty chemicals company's stock. Bank of America's price target would suggest a potential upside of 7.50% from the company's current price.

A number of other equities research analysts have also recently weighed in on the company. Citigroup dropped their price objective on Sherwin-Williams from $410.00 to $385.00 and set a "buy" rating for the company in a research note on Wednesday, April 1st. Royal Bank Of Canada dropped their price objective on Sherwin-Williams from $390.00 to $376.00 and set an "outperform" rating for the company in a research note on Thursday, March 19th. Wells Fargo & Company cut Sherwin-Williams from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $410.00 to $365.00 in a research note on Friday, April 10th. UBS Group dropped their price objective on Sherwin-Williams from $420.00 to $380.00 and set a "buy" rating for the company in a research note on Thursday, April 2nd. Finally, Mizuho lowered their target price on Sherwin-Williams from $410.00 to $371.00 and set an "outperform" rating for the company in a research note on Monday, March 23rd. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $379.54.

Sherwin-Williams Trading Down 1.3%

Shares of NYSE SHW traded down $4.38 during trading on Tuesday, reaching $339.55. The stock had a trading volume of 222,911 shares, compared to its average volume of 1,764,515. Sherwin-Williams has a fifty-two week low of $301.58 and a fifty-two week high of $379.65. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.53 and a current ratio of 0.87. The business's 50-day moving average price is $337.04 and its 200-day moving average price is $338.43. The company has a market cap of $83.99 billion, a P/E ratio of 33.07, a PEG ratio of 3.00 and a beta of 1.27.

Sherwin-Williams (NYSE:SHW - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported $2.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.16 by $0.07. Sherwin-Williams had a return on equity of 65.26% and a net margin of 10.90%.The business had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.57 billion. During the same period in the previous year, the firm posted $2.09 earnings per share. The company's revenue was up 5.6% on a year-over-year basis. On average, equities research analysts predict that Sherwin-Williams will post 11.89 EPS for the current fiscal year.

Insider Buying and Selling at Sherwin-Williams

In related news, SVP Bryan J. Young sold 2,513 shares of the business's stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $364.47, for a total transaction of $915,913.11. Following the completion of the transaction, the senior vice president directly owned 10,045 shares of the company's stock, valued at $3,661,101.15. The trade was a 20.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Colin M. Davie sold 2,976 shares of the business's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $359.50, for a total value of $1,069,872.00. Following the transaction, the insider directly owned 5,365 shares of the company's stock, valued at $1,928,717.50. The trade was a 35.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.23% of the company's stock.

Institutional Trading of Sherwin-Williams

A number of institutional investors have recently bought and sold shares of the business. Modera Wealth Management LLC lifted its holdings in Sherwin-Williams by 2.4% during the 3rd quarter. Modera Wealth Management LLC now owns 1,257 shares of the specialty chemicals company's stock worth $435,000 after buying an additional 29 shares during the last quarter. CoreCap Advisors LLC lifted its holdings in Sherwin-Williams by 0.6% during the 4th quarter. CoreCap Advisors LLC now owns 5,102 shares of the specialty chemicals company's stock worth $1,653,000 after buying an additional 29 shares during the last quarter. Sowell Financial Services LLC lifted its holdings in Sherwin-Williams by 2.8% during the 4th quarter. Sowell Financial Services LLC now owns 1,057 shares of the specialty chemicals company's stock worth $343,000 after buying an additional 29 shares during the last quarter. Mather Group LLC. lifted its holdings in Sherwin-Williams by 1.4% during the 4th quarter. Mather Group LLC. now owns 2,118 shares of the specialty chemicals company's stock worth $686,000 after buying an additional 30 shares during the last quarter. Finally, Sapient Capital LLC lifted its holdings in Sherwin-Williams by 0.3% during the 4th quarter. Sapient Capital LLC now owns 9,176 shares of the specialty chemicals company's stock worth $2,993,000 after buying an additional 30 shares during the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.

About Sherwin-Williams

Sherwin-Williams NYSE: SHW is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.

The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.

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