Sherwin-Williams (NYSE:SHW) Given New $350.00 Price Target at Wells Fargo & Company

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

Several other equities research analysts also recently weighed in on the stock. Citigroup lowered their target price on shares of Sherwin-Williams from $423.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday. Jefferies Financial Group reaffirmed a “hold” rating and set a $380.00 target price (down from $423.00) on shares of Sherwin-Williams in a research report on Monday, March 10th. Robert W. Baird set a $370.00 target price on shares of Sherwin-Williams in a research note on Friday, January 31st. Berenberg Bank upgraded shares of Sherwin-Williams from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $321.00 to $420.00 in a research note on Friday, January 24th. Finally, Morgan Stanley reduced their target price on Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $393.31.

Sherwin-Williams Stock Up 7.4 %

Sherwin-Williams stock traded up $23.13 during midday trading on Wednesday, hitting $336.64. 1,468,047 shares of the company’s stock were exchanged, compared to its average volume of 1,765,154. The firm has a 50-day moving average of $349.46 and a two-hundred day moving average of $361.52. Sherwin-Williams has a 12 month low of $282.09 and a 12 month high of $400.42. The company has a market cap of $84.67 billion, a PE ratio of 31.74, a P/E/G ratio of 2.98 and a beta of 1.26. 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 (NYSE:SHW) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share for the quarter, topping 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 quarter last year, the company earned $1.81 earnings per share. As a group, analysts expect that Sherwin-Williams will post 12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Colin M. Davie sold 2,799 shares of Sherwin-Williams stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $360.30, for a total value of $1,008,479.70. Following the sale, the insider now directly owns 5,365 shares of the company’s stock, valued at $1,933,009.50. The trade was a 34.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sherwin-Williams

Institutional investors and hedge funds have recently bought and sold shares of the business. Midwest Capital Advisors LLC purchased a new stake in shares of Sherwin-Williams in the fourth quarter valued at approximately $26,000. Park Square Financial Group LLC purchased a new position in shares of Sherwin-Williams during the 4th quarter worth $27,000. Lee Danner & Bass Inc. purchased a new stake in shares of Sherwin-Williams in the fourth quarter valued at about $28,000. Sierra Ocean LLC acquired a new stake in Sherwin-Williams during the fourth quarter worth about $36,000. Finally, WR Wealth Planners LLC raised its stake in Sherwin-Williams by 41.7% during 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 currently 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.