Sherwin-Williams Co. (NYSE:SHW) was upgraded by stock analysts at Argus from a “hold” rating to a “buy” rating in a research note issued on Monday. The brokerage currently has a $300.00 price target on the stock. Argus’ target price points to a potential upside of 12.19% from the stock’s current price.
SHW has been the subject of a number of other research reports. Wells Fargo & Co. initiated coverage on Sherwin-Williams in a report on Wednesday, September 28th. They set a “market perform” rating for the company. Zacks Investment Research upgraded Sherwin-Williams from a “hold” rating to a “buy” rating and set a $317.00 target price for the company in a report on Monday, September 26th. Sterne Agee CRT upgraded Sherwin-Williams from a “neutral” rating to a “buy” rating in a report on Thursday, August 25th. Credit Agricole SA restated a “buy” rating and set a $350.00 target price on shares of Sherwin-Williams in a report on Wednesday, September 14th. Finally, Morgan Stanley restated a “buy” rating on shares of Sherwin-Williams in a report on Thursday, June 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Sherwin-Williams has a consensus rating of “Buy” and a consensus price target of $324.85.
Shares of Sherwin-Williams (NYSE:SHW) opened at 267.41 on Monday. The company has a market cap of $24.55 billion, a price-to-earnings ratio of 22.55 and a beta of 0.92. The company has a 50 day moving average price of $279.32 and a 200 day moving average price of $290.36. Sherwin-Williams has a one year low of $234.96 and a one year high of $312.48.
Sherwin-Williams (NYSE:SHW) last posted its earnings results on Thursday, July 21st. The company reported $4.06 earnings per share for the quarter, missing analysts’ consensus estimates of $4.16 by $0.10. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Sherwin-Williams had a return on equity of 110.16% and a net margin of 9.50%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.70 EPS. Equities analysts predict that Sherwin-Williams will post $12.64 EPS for the current year.
In other news, insider Joel D. Baxter sold 3,853 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $300.16, for a total transaction of $1,156,516.48. Following the completion of the sale, the insider now owns 8,347 shares in the company, valued at approximately $2,505,435.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John G. Morikis sold 30,353 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $298.75, for a total value of $9,067,958.75. Following the sale, the chief executive officer now owns 119,804 shares of the company’s stock, valued at approximately $35,791,445. The disclosure for this sale can be found here. Insiders own 1.89% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Strs Ohio raised its position in shares of Sherwin-Williams by 15.5% in the second quarter. Strs Ohio now owns 243,129 shares of the company’s stock worth $71,399,000 after buying an additional 32,679 shares during the period. Legal & General Group Plc raised its position in shares of Sherwin-Williams by 3.4% in the first quarter. Legal & General Group Plc now owns 326,858 shares of the company’s stock worth $93,044,000 after buying an additional 10,661 shares during the period. Boston Advisors LLC purchased a new position in shares of Sherwin-Williams during the second quarter worth about $20,017,000. HL Financial Services LLC raised its position in shares of Sherwin-Williams by 4.0% in the second quarter. HL Financial Services LLC now owns 58,196 shares of the company’s stock worth $17,092,000 after buying an additional 2,231 shares during the period. Finally, Wagner Bowman Management Corp purchased a new position in shares of Sherwin-Williams during the second quarter worth about $323,000. Hedge funds and other institutional investors own 74.62% of the company’s stock.
Sherwin-Williams Company Profile
The Sherwin-Williams Company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company has four operating segments: 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.
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