Sherwin-Williams Co. (NYSE:SHW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The firm presently has a $317.00 target price on the stock. Zacks Investment Research’s target price suggests a potential upside of 12.26% from the stock’s previous close.
According to Zacks, “Estimates for Sherwin-Williams have been stable of late. Sherwin-Williams is focusing on growth through acquisitions and cost control initiatives. The company should gain from its planned acquisition of Valspar. The buyout will allow Sherwin-Williams to strengthen its position as a leading paints and coatings provider globally, leveraging highly complementary offerings, strong brands and technologies. Valspar is a strategic fit and the merger will extend Sherwin-Williams’ brand portfolio and customer relationships in North America, and bolster its global finishes business. Further, the company's consumer as well as paint segments are recovering. The company also remains committed to increasing shareholder returns. “
A number of other equities analysts also recently issued reports on the company. Credit Agricole SA restated a “buy” rating and set a $350.00 price objective on shares of Sherwin-Williams in a research report on Wednesday, September 14th. Sterne Agee CRT upgraded Sherwin-Williams from a “neutral” rating to a “buy” rating in a report on Thursday, August 25th. RBC Capital Markets reiterated an “outperform” rating and issued a $335.00 target price on shares of Sherwin-Williams in a report on Saturday, August 13th. Robert W. Baird reiterated an “outperform” rating and issued a $330.00 target price on shares of Sherwin-Williams in a report on Monday, July 25th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $322.00 target price on shares of Sherwin-Williams in a report on Wednesday, July 20th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $324.31.
Shares of Sherwin-Williams (NYSE:SHW) opened at 282.38 on Monday. Sherwin-Williams has a 52 week low of $220.43 and a 52 week high of $312.48. The company has a market cap of $25.92 billion, a PE ratio of 23.81 and a beta of 0.87. The stock’s 50 day moving average price is $284.69 and its 200-day moving average price is $291.11.
Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Thursday, July 21st. The company reported $4.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.16 by $0.10. Sherwin-Williams had a return on equity of 110.16% and a net margin of 9.50%. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter last year, the business earned $3.70 earnings per share. Sherwin-Williams’s revenue was up 2.8% compared to the same quarter last year. Analysts expect that Sherwin-Williams will post $12.64 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 19th were given a dividend of $0.84 per share. The ex-dividend date was Wednesday, August 17th. This represents a $3.36 annualized dividend and a dividend yield of 1.19%. Sherwin-Williams’s payout ratio is 28.84%.
In other Sherwin-Williams news, insider Joel D. Baxter sold 3,853 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $300.16, for a total value of $1,156,516.48. Following the transaction, the insider now owns 8,347 shares of the company’s stock, valued at $2,505,435.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO John G. Morikis sold 30,353 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $298.75, for a total value of $9,067,958.75. Following the completion of the transaction, the chief executive officer now directly owns 119,804 shares in the company, valued at approximately $35,791,445. The disclosure for this sale can be found here. Corporate insiders own 1.89% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Williams Jones & Associates LLC acquired a new position in Sherwin-Williams during the second quarter valued at $410,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Sherwin-Williams during the second quarter valued at $932,000. Kentucky Retirement Systems acquired a new position in Sherwin-Williams during the second quarter valued at $1,963,000. Mason Street Advisors LLC acquired a new position in Sherwin-Williams during the second quarter valued at $3,110,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Sherwin-Williams by 119.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 17,856 shares of the company’s stock valued at $5,244,000 after buying an additional 9,717 shares in the last quarter. 74.62% of the stock is currently owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sherwin-Williams Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sherwin-Williams Co. and related companies with MarketBeat.com's FREE daily email newsletter.