Evercore ISI Lowers Sherwin-Williams (NYSE:SHW) Price Target to $400.00

Sherwin-Williams (NYSE:SHW) had its target price reduced by investment analysts at Evercore ISI from $410.00 to $400.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the specialty chemicals company’s stock. Evercore ISI’s price objective would indicate a potential upside of 10.62% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company lifted their price target on Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Morgan Stanley lifted their target price on shares of Sherwin-Williams from $375.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. The Goldman Sachs Group increased their price target on shares of Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. KeyCorp restated a “sector weight” rating on shares of Sherwin-Williams in a research report on Monday, October 7th. Finally, Jefferies Financial Group increased their target price on Sherwin-Williams from $392.00 to $415.00 and gave the company a “buy” rating in a report on Monday, August 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $395.29.

Sherwin-Williams Stock Performance

Shares of SHW opened at $361.59 on Wednesday. The company has a quick ratio of 0.50, a current ratio of 0.83 and a debt-to-equity ratio of 1.97. Sherwin-Williams has a 52-week low of $232.06 and a 52-week high of $392.57. The company has a 50-day simple moving average of $371.81 and a 200-day simple moving average of $334.64. The company has a market capitalization of $91.68 billion, a PE ratio of 38.55, a P/E/G ratio of 2.87 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW) last posted its quarterly 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). Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the previous year, the business posted $3.20 earnings per share. Sherwin-Williams’s revenue was up .7% on a year-over-year basis. Equities research analysts predict that Sherwin-Williams will post 11.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sherwin-Williams news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 63,520 shares in the company, valued at $23,301,041.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Sherwin-Williams

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Tamar Securities LLC grew its stake in Sherwin-Williams by 3.4% during the third quarter. Tamar Securities LLC now owns 48,753 shares of the specialty chemicals company’s stock worth $18,608,000 after buying an additional 1,604 shares during the period. Valeo Financial Advisors LLC increased its holdings in Sherwin-Williams by 7.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,636 shares of the specialty chemicals company’s stock valued at $787,000 after purchasing an additional 193 shares in the last quarter. Transcend Capital Advisors LLC raised its position in Sherwin-Williams by 24.1% in the second quarter. Transcend Capital Advisors LLC now owns 7,805 shares of the specialty chemicals company’s stock valued at $2,329,000 after purchasing an additional 1,514 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of Sherwin-Williams by 4.3% during the third quarter. Handelsbanken Fonder AB now owns 98,118 shares of the specialty chemicals company’s stock worth $37,449,000 after purchasing an additional 4,074 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Sherwin-Williams by 17.3% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 20,592 shares of the specialty chemicals company’s stock worth $7,152,000 after buying an additional 3,031 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.