Sherwin-Williams (NYSE:SHW – Get Free Report) had its price target reduced by analysts at Citigroup from $310.00 to $280.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the specialty chemicals company’s stock. Citigroup’s price objective suggests a potential upside of 18.64% from the stock’s previous close.
A number of other brokerages have also recently weighed in on SHW. Loop Capital increased their target price on shares of Sherwin-Williams from $295.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. BMO Capital Markets raised their target price on shares of Sherwin-Williams from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. Wells Fargo & Company lowered their target price on Sherwin-Williams from $300.00 to $290.00 and set an “equal weight” rating for the company in a report on Friday, August 25th. Evercore ISI raised their price target on Sherwin-Williams from $300.00 to $305.00 and gave the stock an “outperform” rating in a report on Friday, September 8th. Finally, StockNews.com assumed coverage on Sherwin-Williams in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $286.12.
Read Our Latest Analysis on Sherwin-Williams
Sherwin-Williams Stock Performance
Sherwin-Williams (NYSE:SHW – Get Free Report) last issued its earnings results on Tuesday, July 25th. The specialty chemicals company reported $3.29 EPS for the quarter, topping the consensus estimate of $2.71 by $0.58. Sherwin-Williams had a return on equity of 78.92% and a net margin of 10.50%. The company had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same quarter last year, the firm earned $2.41 EPS. The business’s revenue was up 6.3% on a year-over-year basis. Equities analysts forecast that Sherwin-Williams will post 10.26 earnings per share for the current fiscal year.
Insider Activity
In related news, CEO John G. Morikis bought 2,125 shares of the business’s stock in a transaction dated Wednesday, October 25th. The shares were bought at an average cost of $237.60 per share, with a total value of $504,900.00. Following the completion of the transaction, the chief executive officer now directly owns 317,270 shares of the company’s stock, valued at $75,383,352. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.55% of the company’s stock.
Institutional Trading of Sherwin-Williams
A number of hedge funds have recently bought and sold shares of the company. State Street Corp lifted its position in shares of Sherwin-Williams by 2.1% in the 2nd quarter. State Street Corp now owns 10,382,442 shares of the specialty chemicals company’s stock valued at $2,756,746,000 after acquiring an additional 211,790 shares in the last quarter. Morgan Stanley boosted its position in shares of Sherwin-Williams by 50.9% in the fourth quarter. Morgan Stanley now owns 5,180,068 shares of the specialty chemicals company’s stock worth $1,229,386,000 after buying an additional 1,747,586 shares during the period. Geode Capital Management LLC grew its holdings in shares of Sherwin-Williams by 2.3% during the second quarter. Geode Capital Management LLC now owns 4,275,332 shares of the specialty chemicals company’s stock valued at $1,131,647,000 after buying an additional 95,785 shares in the last quarter. Parnassus Investments LLC raised its position in Sherwin-Williams by 0.4% during the second quarter. Parnassus Investments LLC now owns 2,998,298 shares of the specialty chemicals company’s stock valued at $796,108,000 after buying an additional 13,212 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Sherwin-Williams by 13.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,795,775 shares of the specialty chemicals company’s stock worth $742,334,000 after acquiring an additional 321,529 shares in the last quarter. 75.87% of the stock is owned by hedge funds and other institutional investors.
About Sherwin-Williams
The Sherwin-Williams Company engages in the manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors, and do-it-yourself homeowners.
Read More
- Five stocks we like better than Sherwin-Williams
- How Investors Can Find the Best Cheap Dividend Stocks
- Can casino stocks win big if economy slows?
- How to Invest in Lithium and Lithium Stocks
- Amazon comes to a boil; complete price reversal in sight
- What is the Shanghai Stock Exchange Composite Index?
- Ford charts new path for EVs with focus on cost efficiency
Receive News & Ratings for Sherwin-Williams Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sherwin-Williams and related companies with MarketBeat.com's FREE daily email newsletter.
