Wells Fargo & Company Has Lowered Expectations for Sherwin-Williams (NYSE:SHW) Stock Price

Sherwin-Williams (NYSE:SHW) had its target price decreased by stock analysts at Wells Fargo & Company from $400.00 to $380.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the specialty chemicals company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 14.49% from the stock’s current price.

Several other research firms have also recently commented on SHW. Citigroup reiterated a “buy” rating and set a $423.00 target price (up from $418.00) on shares of Sherwin-Williams in a research note on Wednesday, February 26th. Royal Bank of Canada reduced their target price on shares of Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Jefferies Financial Group restated a “hold” rating and set a $380.00 price target (down from $423.00) on shares of Sherwin-Williams in a research note on Monday, March 10th. Mizuho reduced their price objective on Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Finally, Berenberg Bank upgraded Sherwin-Williams from a “hold” rating to a “buy” rating and boosted their price objective for the company from $321.00 to $420.00 in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $398.94.

Sherwin-Williams Stock Down 2.6 %

SHW stock opened at $331.91 on Thursday. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.79 and a quick ratio of 0.46. The company has a 50-day moving average of $352.24 and a two-hundred day moving average of $362.90. The stock has a market capitalization of $83.48 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 2.98 and a beta of 1.23. Sherwin-Williams has a 52-week low of $282.09 and a 52-week high of $400.42.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.02. Sherwin-Williams had a return on equity of 74.50% and a net margin of 11.61%. During the same period last year, the company posted $1.81 EPS. As a group, equities research analysts anticipate that Sherwin-Williams will post 12 EPS for the current year.

Insider Transactions at Sherwin-Williams

In other news, insider Colin M. Davie sold 2,799 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $360.30, for a total transaction of $1,008,479.70. Following the sale, the insider now owns 5,365 shares in the company, valued at approximately $1,933,009.50. This represents a 34.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Midwest Capital Advisors LLC acquired a new position in Sherwin-Williams during the 4th quarter worth $26,000. Park Square Financial Group LLC bought a new stake in shares of Sherwin-Williams during the fourth quarter worth $27,000. Lee Danner & Bass Inc. acquired a new position in shares of Sherwin-Williams during the fourth quarter valued at $28,000. Sierra Ocean LLC bought a new position in Sherwin-Williams in the fourth quarter valued at about $36,000. Finally, WR Wealth Planners LLC increased its position in Sherwin-Williams by 41.7% in the fourth quarter. WR Wealth Planners LLC now owns 119 shares of the specialty chemicals company’s stock worth $40,000 after purchasing an additional 35 shares during the period. 77.67% of the stock is owned by institutional investors.

About Sherwin-Williams

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.