Evercore ISI Cuts Sherwin-Williams (NYSE:SHW) Price Target to $380.00

Sherwin-Williams (NYSE:SHW) had its target price cut by analysts at Evercore ISI from $385.00 to $380.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the specialty chemicals company’s stock. Evercore ISI’s price target would indicate a potential upside of 22.41% from the stock’s previous close.

SHW has been the topic of a number of other research reports. Wolfe Research began coverage on Sherwin-Williams in a report on Friday, March 1st. They issued a “peer perform” rating on the stock. Robert W. Baird reaffirmed a “neutral” rating and set a $300.00 price objective (up previously from $270.00) on shares of Sherwin-Williams in a report on Wednesday, January 3rd. Seaport Res Ptn cut Sherwin-Williams from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. StockNews.com upgraded shares of Sherwin-Williams from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. Finally, Argus upped their price target on shares of Sherwin-Williams from $330.00 to $378.00 and gave the stock a “buy” rating in a research note on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Sherwin-Williams has a consensus rating of “Moderate Buy” and an average price target of $325.94.

Sherwin-Williams Stock Performance

SHW traded down $3.55 on Tuesday, hitting $310.42. 422,559 shares of the company traded hands, compared to its average volume of 1,387,572. Sherwin-Williams has a 12-month low of $221.76 and a 12-month high of $348.37. The company has a 50 day moving average of $328.68 and a 200-day moving average of $296.45. The company has a quick ratio of 0.48, a current ratio of 0.83 and a debt-to-equity ratio of 2.25. The stock has a market capitalization of $78.99 billion, a PE ratio of 33.46, a PEG ratio of 2.52 and a beta of 1.15.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings results on Thursday, January 25th. The specialty chemicals company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.80 by $0.01. Sherwin-Williams had a return on equity of 74.72% and a net margin of 10.36%. The business had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.23 billion. During the same quarter in the prior year, the business earned $1.89 earnings per share. The company’s quarterly revenue was up .4% compared to the same quarter last year. Sell-side analysts anticipate that Sherwin-Williams will post 11.44 earnings per share for the current year.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total transaction of $529,653.81. Following the completion of the transaction, the insider now owns 14,564 shares of the company’s stock, valued at $4,935,302.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Sherwin-Williams news, insider Justin T. Binns sold 1,563 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total transaction of $529,653.81. Following the sale, the insider now directly owns 14,564 shares of the company’s stock, valued at approximately $4,935,302.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mary L. Garceau sold 23,518 shares of the business’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 transaction, the senior vice president now directly owns 28,475 shares of the company’s stock, valued at approximately $9,187,743.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,050 shares of company stock valued at $10,340,237. 0.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Register Financial Advisors LLC acquired a new position in Sherwin-Williams in the first quarter valued at $120,000. Fifth Third Wealth Advisors LLC grew its holdings in Sherwin-Williams by 6.3% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,210 shares of the specialty chemicals company’s stock valued at $420,000 after buying an additional 72 shares during the period. Procyon Advisors LLC increased its stake in shares of Sherwin-Williams by 4.4% during the 1st quarter. Procyon Advisors LLC now owns 3,007 shares of the specialty chemicals company’s stock valued at $1,044,000 after acquiring an additional 128 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new position in shares of Sherwin-Williams during the 1st quarter worth about $231,000. Finally, SMI Advisory Services LLC purchased a new position in shares of Sherwin-Williams during the 1st quarter worth about $4,106,000. 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.