Sherwin-Williams (NYSE:SHW) Given New $400.00 Price Target at Wells Fargo & Company

Sherwin-Williams (NYSE:SHW) had its price target boosted by Wells Fargo & Company from $350.00 to $400.00 in a report issued on Tuesday, Benzinga reports. They currently have an equal weight rating on the specialty chemicals company’s stock.

A number of other research analysts have also recently commented on the stock. UBS Group increased their target price on shares of Sherwin-Williams from $375.00 to $412.00 and gave the stock a buy rating in a report on Friday, August 30th. KeyCorp restated a sector weight rating on shares of Sherwin-Williams in a research report on Monday, October 7th. Jefferies Financial Group upped their price target on shares of Sherwin-Williams from $392.00 to $415.00 and gave the stock a buy rating in a report on Monday, August 26th. Royal Bank of Canada reissued an outperform rating and set a $418.00 price objective on shares of Sherwin-Williams in a report on Friday, August 30th. Finally, Robert W. Baird increased their target price on Sherwin-Williams from $310.00 to $325.00 and gave the company a neutral rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $373.17.

Sherwin-Williams Price Performance

Sherwin-Williams stock opened at $388.55 on Tuesday. The stock’s fifty day moving average price is $367.81 and its two-hundred day moving average price is $332.74. The firm has a market cap of $98.02 billion, a PE ratio of 39.61, a price-to-earnings-growth ratio of 2.95 and a beta of 1.17. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.50. Sherwin-Williams has a one year low of $232.06 and a one year high of $392.57.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The business had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.33 billion. During the same period last year, the firm posted $3.29 earnings per share. The firm’s quarterly revenue was up .5% compared to the same quarter last year. As a group, research analysts expect that Sherwin-Williams will post 11.5 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the sale, the chief financial officer now owns 63,520 shares in the company, valued at $23,301,041.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Sherwin-Williams

Institutional investors and hedge funds have recently modified their holdings of the business. CFM Wealth Partners LLC lifted its position in shares of Sherwin-Williams by 0.5% during the 3rd quarter. CFM Wealth Partners LLC now owns 16,607 shares of the specialty chemicals company’s stock valued at $5,768,000 after acquiring an additional 79 shares during the period. Lynch & Associates IN raised its holdings in shares of Sherwin-Williams by 5.1% during the third quarter. Lynch & Associates IN now owns 5,419 shares of the specialty chemicals company’s stock valued at $2,068,000 after purchasing an additional 265 shares during the period. PFG Advisors boosted its position in shares of Sherwin-Williams by 0.6% during the 3rd quarter. PFG Advisors now owns 5,822 shares of the specialty chemicals company’s stock worth $2,222,000 after purchasing an additional 32 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC acquired a new stake in shares of Sherwin-Williams in the 3rd quarter valued at about $201,000. Finally, Cabot Wealth Management Inc. increased its position in Sherwin-Williams by 78.0% in the 3rd quarter. Cabot Wealth Management Inc. now owns 8,536 shares of the specialty chemicals company’s stock valued at $3,258,000 after buying an additional 3,741 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors.

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.