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

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

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company decreased their target price on shares of Sherwin-Williams from $380.00 to $350.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Jefferies Financial Group restated a “hold” rating and issued a $380.00 price objective (down previously from $423.00) on shares of Sherwin-Williams in a report on Monday, March 10th. UBS Group dropped their price target 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, April 7th. JPMorgan Chase & Co. lifted their price objective on shares of Sherwin-Williams from $370.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada dropped their price target on Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Six investment 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $391.25.

Sherwin-Williams Stock Performance

Sherwin-Williams stock opened at $328.60 on Tuesday. Sherwin-Williams has a 52 week low of $282.09 and a 52 week high of $400.42. The company has a current ratio of 0.79, a quick ratio of 0.46 and a debt-to-equity ratio of 2.02. The stock has a market cap of $82.64 billion, a P/E ratio of 31.15, a price-to-earnings-growth ratio of 2.98 and a beta of 1.26. The stock has a 50 day moving average of $344.13 and a 200-day moving average of $358.32.

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

Insider Activity

In other news, insider Colin M. Davie sold 2,799 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $360.30, for a total value 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 trade represents a 34.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Sherwin-Williams

Hedge funds have recently made changes to their positions in the stock. Midwest Capital Advisors LLC bought a new position in shares of Sherwin-Williams during the 4th quarter worth about $26,000. Park Square Financial Group LLC bought a new stake in shares of Sherwin-Williams during the fourth quarter worth $27,000. Perkins Coie Trust Co bought a new position in shares of Sherwin-Williams in the first quarter worth about $27,000. Lee Danner & Bass Inc. bought a new position in Sherwin-Williams in the 4th quarter worth approximately $28,000. Finally, Sierra Ocean LLC bought a new stake in shares of Sherwin-Williams during the fourth quarter worth $36,000. Institutional investors own 77.67% of the company’s stock.

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.