Wells Fargo & Company Issues Pessimistic Forecast for CSW Industrials (NASDAQ:CSWI) Stock Price

CSW Industrials (NASDAQ:CSWI) had its target price dropped by stock analysts at Wells Fargo & Company from $350.00 to $295.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 0.90% from the stock’s previous close.

CSWI has been the topic of a number of other research reports. StockNews.com lowered CSW Industrials from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Truist Financial initiated coverage on CSW Industrials in a research note on Friday, February 14th. They issued a “hold” rating and a $362.00 price target on the stock. Citigroup dropped their price target on CSW Industrials from $466.00 to $404.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Finally, The Goldman Sachs Group lowered their price target on shares of CSW Industrials from $450.00 to $400.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $342.50.

CSW Industrials Stock Performance

CSW Industrials stock opened at $297.68 on Monday. The company has a 50 day moving average price of $297.43 and a 200 day moving average price of $351.32. CSW Industrials has a 52 week low of $229.49 and a 52 week high of $436.50. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 35.57 and a beta of 0.88.

CSW Industrials (NASDAQ:CSWI) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.37 by $0.11. CSW Industrials had a net margin of 15.53% and a return on equity of 15.72%. Equities analysts forecast that CSW Industrials will post 8.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CSW Industrials news, CEO Joseph B. Armes sold 1,000 shares of CSW Industrials stock in a transaction on Friday, March 14th. The shares were sold at an average price of $289.97, for a total value of $289,970.00. Following the sale, the chief executive officer now directly owns 46,848 shares in the company, valued at approximately $13,584,514.56. The trade was a 2.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James E. Perry sold 145 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $289.10, for a total value of $41,919.50. Following the completion of the sale, the executive vice president now directly owns 23,137 shares of the company’s stock, valued at approximately $6,688,906.70. The trade was a 0.62 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,212 shares of company stock worth $1,530,557. Company insiders own 1.40% of the company’s stock.

Institutional Trading of CSW Industrials

A number of hedge funds have recently made changes to their positions in the business. Proficio Capital Partners LLC increased its holdings in shares of CSW Industrials by 35,553.3% during the fourth quarter. Proficio Capital Partners LLC now owns 202,154 shares of the basic materials company’s stock worth $71,320,000 after purchasing an additional 201,587 shares during the period. Norges Bank bought a new position in shares of CSW Industrials in the 4th quarter worth about $59,250,000. Riverbridge Partners LLC acquired a new position in shares of CSW Industrials during the fourth quarter valued at about $42,202,000. GAMMA Investing LLC grew its position in CSW Industrials by 63,348.5% in the 1st quarter. GAMMA Investing LLC now owns 86,290 shares of the basic materials company’s stock valued at $25,155,000 after purchasing an additional 86,154 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in CSW Industrials by 1,046.2% during the 3rd quarter. Principal Financial Group Inc. now owns 84,991 shares of the basic materials company’s stock valued at $31,140,000 after purchasing an additional 77,576 shares during the last quarter. 82.79% of the stock is owned by institutional investors and hedge funds.

CSW Industrials Company Profile

CSW Industrials, Inc operates as a diversified industrial company in the United States and internationally. It operates through three segments: Contractor Solutions, Engineered Building Solutions, and Specialized Reliability Solutions. The Contractor Solutions segment provides condensate pads, pans, pumps, switches, and traps; cements, diffusers, grilles, registers, solvents, thread sealants, and vents; line set covers; refrigerant caps; wire pulling head tools; electrical protection, chemical maintenance, and installation supplies for HVAC; ductless mini-split systems installation support tools and accessories; and drain waste and vent system products for use in HVAC/R, plumbing, general industrial, architecturally specified building products.