Evercore ISI Issues Positive Forecast for Sherwin-Williams (NYSE:SHW) Stock Price

by · The Cerbat Gem

Sherwin-Williams (NYSE:SHW – Free Report) had its target price upped by Evercore ISI from $400.00 to $420.00 in a report released on Thursday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the specialty chemicals company’s stock.

Other research analysts have also recently issued research reports about the stock. Citigroup decreased their price target on shares of Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their target price on shares of Sherwin-Williams from $360.00 to $370.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Redburn Atlantic raised shares of Sherwin-Williams to a “strong-buy” rating in a report on Thursday, July 18th. Wells Fargo & Company raised their target price on shares of Sherwin-Williams from $350.00 to $400.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, KeyCorp restated a “sector weight” rating on shares of Sherwin-Williams in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $396.47.

Get Our Latest Analysis on SHW

Sherwin-Williams Price Performance

NYSE SHW opened at $386.67 on Thursday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83. The firm’s 50 day moving average price is $374.21 and its 200-day moving average price is $339.14. Sherwin-Williams has a 52-week low of $251.69 and a 52-week high of $392.57. The company has a market cap of $97.38 billion, a PE ratio of 38.51, a P/E/G ratio of 3.12 and a beta of 1.17.

Sherwin-Williams (NYSE:SHW – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.19). Sherwin-Williams had a net margin of 11.09% and a return on equity of 74.45%. The firm had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same period in the previous year, the company earned $3.20 EPS. The company’s revenue was up .7% on a year-over-year basis. Sell-side analysts forecast that Sherwin-Williams will post 11.32 EPS for the current fiscal year.

Sherwin-Williams Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Friday, November 15th. Sherwin-Williams’s payout ratio is 28.49%.

Insider Activity

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the completion of the sale, the chief financial officer now owns 63,520 shares in the company, valued at $23,301,041.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Sherwin-Williams

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Sherwin-Williams by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 21,620,939 shares of the specialty chemicals company’s stock valued at $7,509,601,000 after acquiring an additional 184,979 shares during the last quarter. Capital International Investors grew its holdings in shares of Sherwin-Williams by 10.5% during the first quarter. Capital International Investors now owns 2,302,120 shares of the specialty chemicals company’s stock worth $799,595,000 after buying an additional 219,149 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Sherwin-Williams by 2.9% during the second quarter. Legal & General Group Plc now owns 1,921,846 shares of the specialty chemicals company’s stock worth $573,538,000 after buying an additional 53,487 shares in the last quarter. PineStone Asset Management Inc. grew its holdings in shares of Sherwin-Williams by 132.8% during the second quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock worth $480,291,000 after buying an additional 917,979 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of Sherwin-Williams by 18.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,524,367 shares of the specialty chemicals company’s stock worth $454,917,000 after buying an additional 238,031 shares in the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Company Profile

(Get Free Report)

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.

Featured Stories