Sherwin-Williams Co (SHW) is Downgraded by Seaport Global Securities to Neutral, Price Target at $320

Sherwin-Williams Co (SHW) was Downgraded by Seaport Global Securities to ” Neutral” and the brokerage firm has set the Price Target at $320. Earlier the firm had a rating of “Accumulate ” on the company shares. Seaport Global Securities advised their investors in a research report released on Jul 11, 2016.

Many Wall Street Analysts have commented on Sherwin-Williams Co. Company shares were Reiterated by RBC Capital Mkts on Apr 22, 2016 to “Outperform”, Firm has raised the Price Target to $ 340 from a previous price target of $337 .Company shares were Reiterated by UBS on Apr 22, 2016 to “Neutral”, Firm has raised the Price Target to $ 305 from a previous price target of $290 .

On the company’s financial health, Sherwin-Williams Co reported $1.81 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $1.62. The company had revenue of $2574.00 million for the quarter, compared to analysts expectations of $2480.02 million. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.38 EPS.

Sherwin-Williams Co opened for trading at $304.18 and hit $307.96 on the upside on Friday, eventually ending the session at $306.52, with a gain of 1.46% or 4.42 points. The heightened volatility saw the trading volume jump to 6,25,202 shares. Company has a market cap of $28,352 M.

In a different news, on May 17, 2016, David B Sewell (President, Global Finishes Grp) sold 4,598 shares at $297.39 per share price. According to the SEC, on May 17, 2016, Sean P Hennessy (SVP-Finance & CFO) sold 20,353 shares at $294.88 per share price. On May 11, 2016, Allen J Mistysyn (SVP-Corporate Controller) sold 3,353 shares at $291.58 per share price, according to the Form-4 filing with the securities and exchange commission.

The Sherwin-Williams Company is engaged in the development manufacture distribution and sale of paint coatings and related products. The Company’s segments include Paint Stores Group Consumer Group Global Finishes Group and Latin America Coatings Group. The Paint Stores Group markets and sells architectural paint and coatings protective and marine products original equipment manufacturer (OEM) product finishes and related items. The Consumer Group develops manufactures and distributes a range of paint coatings and related products to third party customers. The Global Finishes Group develops licenses manufactures distributes and sells a range of protective and marine products automotive finishes and refinished products and OEM product finishes among others. The Latin America Coatings Group develops licenses manufactures distributes and sells a range of architectural paint and coatings protective and marine products and OEM product finishes among others.

Sherwin-Williams Co

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