Sherwin-Williams (NYSE:SHW) Price Target Cut to $385.00 by Analysts at Morgan Stanley

Sherwin-Williams (NYSE:SHW) had its price objective reduced by investment analysts at Morgan Stanley from $405.00 to $385.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the specialty chemicals company’s stock. Morgan Stanley’s price objective points to a potential upside of 17.17% from the company’s current price.

Other analysts have also issued reports about the company. Mizuho set a $395.00 target price on Sherwin-Williams in a research note on Tuesday, April 15th. Zelman & Associates raised shares of Sherwin-Williams to a “strong-buy” rating in a report on Friday, January 17th. JPMorgan Chase & Co. upped their price objective on shares of Sherwin-Williams from $370.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada dropped their price target on Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, Wells Fargo & Company cut their price objective on shares of Sherwin-Williams from $380.00 to $350.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Sherwin-Williams has an average rating of “Moderate Buy” and an average price target of $391.25.

Sherwin-Williams Stock Up 2.0 %

Sherwin-Williams stock opened at $328.60 on Tuesday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.46 and a current ratio of 0.79. Sherwin-Williams has a 52-week low of $282.09 and a 52-week high of $400.42. The firm has a 50 day moving average price of $344.13 and a two-hundred day moving average price of $358.32. The firm has a market cap of $82.64 billion, a price-to-earnings ratio of 31.15, a PEG ratio of 2.98 and a beta of 1.26.

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

Insider Buying and Selling

In related news, insider Colin M. Davie sold 2,799 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were 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 owns 5,365 shares of the company’s stock, valued at $1,933,009.50. This trade represents a 34.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sherwin-Williams

Several institutional investors have recently modified their holdings of SHW. Norges Bank bought a new stake in Sherwin-Williams in the 4th quarter worth approximately $1,359,747,000. GAMMA Investing LLC grew its position in shares of Sherwin-Williams by 41,717.1% during the 1st quarter. GAMMA Investing LLC now owns 1,636,304 shares of the specialty chemicals company’s stock valued at $571,381,000 after acquiring an additional 1,632,391 shares during the period. Capital Research Global Investors increased its stake in shares of Sherwin-Williams by 47.1% in the 4th quarter. Capital Research Global Investors now owns 2,998,647 shares of the specialty chemicals company’s stock worth $1,019,329,000 after purchasing an additional 960,724 shares in the last quarter. Barclays PLC grew its holdings in Sherwin-Williams by 54.2% during the fourth quarter. Barclays PLC now owns 2,073,533 shares of the specialty chemicals company’s stock valued at $704,855,000 after purchasing an additional 728,798 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Sherwin-Williams in the 4th quarter worth approximately $230,829,000. 77.67% of the stock is owned by hedge funds and other institutional investors.

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.