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

Sherwin-Williams (NYSE:SHW) had its price objective reduced by stock analysts at Wells Fargo & Company from $380.00 to $350.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the specialty chemicals company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 3.97% from the stock’s current price.

Several other equities research analysts have also recently weighed in on SHW. Citigroup decreased their target price on Sherwin-Williams from $423.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday. Robert W. Baird set a $370.00 target price on Sherwin-Williams in a research note on Friday, January 31st. Jefferies Financial Group reissued a “hold” rating and set a $380.00 price target (down from $423.00) on shares of Sherwin-Williams in a report on Monday, March 10th. UBS Group decreased their target price on shares of Sherwin-Williams from $430.00 to $400.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Barclays cut their price target on shares of Sherwin-Williams from $385.00 to $355.00 and set an “equal weight” rating for the company in a report on Tuesday, April 1st. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $393.31.

Sherwin-Williams Trading Up 7.4 %

Shares of NYSE:SHW traded up $23.13 during mid-day trading on Wednesday, reaching $336.64. 1,468,047 shares of the company were exchanged, compared to its average volume of 1,765,154. Sherwin-Williams has a 1 year low of $282.09 and a 1 year high of $400.42. 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 firm’s 50-day simple moving average is $349.46 and its 200 day simple moving average is $361.52. The firm has a market cap of $84.67 billion, a price-to-earnings ratio of 31.74, a P/E/G ratio of 2.98 and a beta of 1.26.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share 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 in the previous year, the firm earned $1.81 earnings per share. Equities research analysts forecast that Sherwin-Williams will post 12 EPS for the current year.

Insider Buying and Selling at Sherwin-Williams

In related news, insider Colin M. Davie sold 2,799 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 5,365 shares of the company’s stock, valued at approximately $1,933,009.50. This represents a 34.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Sherwin-Williams

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

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.