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

Sherwin-Williams (NYSE:SHW) had its price target cut by research analysts at Bank of America from $370.00 to $365.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the specialty chemicals company’s stock. Bank of America‘s price objective suggests a potential upside of 7.50% from the company’s previous close.

Several other research firms also recently weighed in on SHW. Royal Bank Of Canada reduced their target price on Sherwin-Williams from $390.00 to $376.00 and set an “outperform” rating for the company in a report on Thursday, March 19th. UBS Group reduced their target price on Sherwin-Williams from $420.00 to $380.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Vertical Research raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 target price for the company in a report on Wednesday, January 7th. Wells Fargo & Company downgraded Sherwin-Williams from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $410.00 to $365.00 in a report on Friday, April 10th. Finally, Deutsche Bank Aktiengesellschaft downgraded Sherwin-Williams from a “buy” rating to a “hold” rating and set a $380.00 target price for the company. in a report on Thursday, January 22nd. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $379.54.

Sherwin-Williams Stock Down 1.3%

NYSE SHW traded down $4.38 during trading on Tuesday, reaching $339.55. 222,911 shares of the company’s stock were exchanged, compared to its average volume of 1,764,515. Sherwin-Williams has a 1 year low of $301.58 and a 1 year 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 stock has a market cap of $83.99 billion, a P/E ratio of 33.07, a price-to-earnings-growth ratio of 3.00 and a beta of 1.27. The company has a 50 day moving average price of $337.04 and a two-hundred day moving average price of $338.43.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Thursday, January 29th. The specialty chemicals company reported $2.23 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $5.57 billion. During the same period in the previous year, the business earned $2.09 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities research analysts anticipate that Sherwin-Williams will post 11.89 EPS for the current fiscal year.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, insider Colin M. Davie sold 2,976 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $359.50, for a total transaction of $1,069,872.00. Following the completion of the sale, the insider directly owned 5,365 shares of the company’s stock, valued at $1,928,717.50. This represents a 35.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Bryan J. Young sold 2,513 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $364.47, for a total value of $915,913.11. Following the sale, the senior vice president directly owned 10,045 shares of the company’s stock, valued at approximately $3,661,101.15. This represents a 20.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.23% of the stock is owned by corporate insiders.

Institutional Trading of Sherwin-Williams

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Modera Wealth Management LLC raised its stake 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 valued at $435,000 after acquiring an additional 29 shares during the last quarter. CoreCap Advisors LLC increased its position 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 purchasing an additional 29 shares during the period. Sowell Financial Services LLC increased its position 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 purchasing an additional 29 shares during the period. Mather Group LLC. increased its position 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 purchasing an additional 30 shares during the period. Finally, Sapient Capital LLC increased its position 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 purchasing an additional 30 shares during the period. 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.