Citigroup Cuts Sherwin-Williams (NYSE:SHW) Price Target to $420.00

Sherwin-Williams (NYSE:SHW) had its price objective dropped by research analysts at Citigroup from $430.00 to $420.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the specialty chemicals company’s stock. Citigroup’s price objective points to a potential upside of 16.16% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group upped their target price on shares of Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Barclays increased their price objective on shares of Sherwin-Williams from $355.00 to $370.00 and gave the company an “equal weight” rating in a research note on Wednesday. Morgan Stanley increased their target price on shares of Sherwin-Williams from $375.00 to $450.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. BMO Capital Markets increased their target price on shares of Sherwin-Williams from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Finally, Wells Fargo & Company increased their target price on shares of Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Sherwin-Williams Price Performance

NYSE:SHW traded down $1.16 during mid-day trading on Thursday, hitting $361.56. 81,681 shares of the company’s stock traded hands, compared to its average volume of 1,538,418. The company has a market cap of $91.67 billion, a PE ratio of 38.53, a price-to-earnings-growth ratio of 2.87 and a beta of 1.17. Sherwin-Williams has a 1 year low of $232.06 and a 1 year high of $392.57. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.50 and a current ratio of 0.83. The firm’s 50 day simple moving average is $371.81 and its 200 day simple moving average is $334.64.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). The company had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.20 billion. Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. Sherwin-Williams’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.20 earnings per share. Sell-side analysts expect that Sherwin-Williams will post 11.31 EPS for the current year.

Insider Transactions at Sherwin-Williams

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the transaction, the chief financial officer now owns 63,520 shares in the company, valued at $23,301,041.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Sherwin-Williams

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Sherwin-Williams by 0.9% during the first quarter. Vanguard Group Inc. now owns 21,620,939 shares of the specialty chemicals company’s stock worth $7,509,601,000 after buying an additional 184,979 shares in the last quarter. Capital International Investors boosted its position in Sherwin-Williams by 10.5% during the 1st quarter. Capital International Investors now owns 2,302,120 shares of the specialty chemicals company’s stock worth $799,595,000 after acquiring an additional 219,149 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Sherwin-Williams by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 1,921,846 shares of the specialty chemicals company’s stock worth $573,538,000 after purchasing an additional 53,487 shares in the last quarter. PineStone Asset Management Inc. raised its stake in shares of Sherwin-Williams by 132.8% during the 2nd quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock worth $480,291,000 after purchasing an additional 917,979 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in Sherwin-Williams by 18.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,524,367 shares of the specialty chemicals company’s stock valued at $454,917,000 after acquiring an additional 238,031 shares during the period. 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.