Sherwin-Williams (NYSE:SHW) Price Target Lowered to $376.00 at Royal Bank Of Canada
by Kim Johansen · The Markets DailySherwin-Williams (NYSE:SHW – Get Free Report) had its price objective dropped by stock analysts at Royal Bank Of Canada from $390.00 to $376.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 23.24% from the stock’s previous close.
SHW has been the subject of several other research reports. Mizuho upped their price target on shares of Sherwin-Williams from $400.00 to $410.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Sherwin-Williams in a research report on Monday, December 29th. UBS Group set a $420.00 target price on shares of Sherwin-Williams in a report on Friday, January 30th. Deutsche Bank Aktiengesellschaft downgraded shares of Sherwin-Williams from a “buy” rating to a “hold” rating and set a $380.00 target price for the company. in a research note on Thursday, January 22nd. Finally, Vertical Research raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 price target on the stock in a report on Wednesday, January 7th. Eleven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Sherwin-Williams presently has an average rating of “Moderate Buy” and an average target price of $387.21.
Read Our Latest Stock Analysis on SHW
Sherwin-Williams Stock Performance
SHW traded down $7.02 during trading on Thursday, hitting $305.10. 566,399 shares of the stock were exchanged, compared to its average volume of 1,775,719. The firm has a market capitalization of $75.47 billion, a P/E ratio of 29.71, a PEG ratio of 2.78 and a beta of 1.25. Sherwin-Williams has a 1-year low of $303.42 and a 1-year high of $379.65. The stock has a fifty day moving average price of $351.13 and a two-hundred day moving average price of $343.37. The company has a quick ratio of 0.53, a current ratio of 0.87 and a debt-to-equity ratio of 2.03.
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. The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Sherwin-Williams had a return on equity of 65.26% and a net margin of 10.90%.The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.09 earnings per share. As a group, sell-side analysts predict that Sherwin-Williams will post 12 earnings per share for the current year.
Insider Transactions at Sherwin-Williams
In related news, insider Colin M. Davie sold 2,976 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $359.50, for a total value of $1,069,872.00. Following the completion of the sale, the insider owned 5,365 shares in the company, valued at $1,928,717.50. This trade represents a 35.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Bryan J. Young sold 2,513 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $364.47, for a total value of $915,913.11. Following the transaction, the senior vice president owned 10,045 shares in the company, valued at $3,661,101.15. The trade was a 20.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is owned by company insiders.
Institutional Investors Weigh In On Sherwin-Williams
Several institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC grew its position in Sherwin-Williams by 73.6% during the fourth quarter. Brighton Jones LLC now owns 1,545 shares of the specialty chemicals company’s stock worth $525,000 after buying an additional 655 shares during the period. Empowered Funds LLC increased its stake in Sherwin-Williams by 11.2% in the 1st quarter. Empowered Funds LLC now owns 6,236 shares of the specialty chemicals company’s stock valued at $2,178,000 after purchasing an additional 626 shares in the last quarter. Wealthspire Advisors LLC raised its holdings in Sherwin-Williams by 9.1% during the second quarter. Wealthspire Advisors LLC now owns 11,030 shares of the specialty chemicals company’s stock worth $3,787,000 after purchasing an additional 920 shares during the last quarter. Empirical Finance LLC grew its holdings in Sherwin-Williams by 0.7% in the second quarter. Empirical Finance LLC now owns 8,273 shares of the specialty chemicals company’s stock valued at $2,841,000 after purchasing an additional 54 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its position in shares of Sherwin-Williams by 0.8% in the second quarter. Ensign Peak Advisors Inc now owns 531,472 shares of the specialty chemicals company’s stock valued at $182,486,000 after buying an additional 4,151 shares in the last quarter. 77.67% of the stock is currently 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.