Royal Bank of Canada Lowers Sherwin-Williams (NYSE:SHW) Price Target to $370.00

Sherwin-Williams (NYSE:SHW) had its price objective lowered by Royal Bank of Canada from $380.00 to $370.00 in a report released on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 20.60% from the stock’s previous close.

SHW has been the topic of several other research reports. Robert W. Baird increased their price target on shares of Sherwin-Williams from $300.00 to $310.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wells Fargo & Company increased their price objective on shares of Sherwin-Williams from $310.00 to $320.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. StockNews.com raised shares of Sherwin-Williams from a “hold” rating to a “buy” rating in a research note on Friday, March 8th. Seaport Res Ptn downgraded shares of Sherwin-Williams from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Finally, Loop Capital dropped their price target on shares of Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $338.42.

Sherwin-Williams Stock Performance

Shares of NYSE:SHW traded up $3.08 on Thursday, reaching $306.81. 885,013 shares of the company’s stock were exchanged, compared to its average volume of 1,447,149. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $78.07 billion, a price-to-earnings ratio of 32.69, a PEG ratio of 2.39 and a beta of 1.15. The company has a fifty day moving average of $328.26 and a 200-day moving average of $298.77. Sherwin-Williams has a twelve month low of $221.76 and a twelve month high of $348.37.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.05). The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.50 billion. Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.04 EPS. On average, research analysts predict that Sherwin-Williams will post 11.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total value of $767,859.46. Following the completion of the sale, the insider now directly owns 9,329 shares in the company, valued at $2,925,014.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total value of $767,859.46. Following the completion of the sale, the insider now directly owns 9,329 shares in the company, valued at $2,925,014.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Justin T. Binns sold 1,563 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $338.87, for a total transaction of $529,653.81. Following the completion of the sale, the insider now owns 14,564 shares of the company’s stock, valued at $4,935,302.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,050 shares of company stock worth $10,340,237. 0.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. OFI Invest Asset Management acquired a new position in shares of Sherwin-Williams during the third quarter valued at about $25,000. Union Savings Bank bought a new position in shares of Sherwin-Williams during the third quarter valued at about $28,000. First United Bank & Trust bought a new position in shares of Sherwin-Williams during the fourth quarter valued at about $31,000. Lee Financial Co bought a new position in shares of Sherwin-Williams during the third quarter valued at about $32,000. Finally, BluePath Capital Management LLC bought a new position in shares of Sherwin-Williams during the third quarter valued at about $33,000. 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.