Sherwin-Williams (NYSE:SHW) Price Target Raised to $296.00

by · The Markets Daily

Sherwin-Williams (NYSE:SHW – Free Report) had its price target raised by Bank of America from $289.00 to $296.00 in a research note released on Monday morning,Benzinga reports. They currently have an underperform rating on the specialty chemicals company’s stock.

SHW has been the subject of a number of other reports. Wells Fargo & Company upgraded Sherwin-Williams from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $350.00 to $420.00 in a research note on Wednesday, April 30th. Royal Bank Of Canada raised their target price on shares of Sherwin-Williams from $410.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Citigroup lowered shares of Sherwin-Williams from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $405.00 to $385.00 in a research report on Friday, June 13th. Mizuho set a $395.00 price objective on shares of Sherwin-Williams in a research report on Tuesday, April 15th. Finally, Morgan Stanley lowered their price objective on shares of Sherwin-Williams from $405.00 to $385.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $391.31.

Check Out Our Latest Stock Analysis on Sherwin-Williams

Sherwin-Williams Stock Down 0.6%

Shares of Sherwin-Williams stock opened at $343.70 on Monday. Sherwin-Williams has a 52-week low of $292.33 and a 52-week high of $400.42. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.45 and a current ratio of 0.77. The business’s 50 day simple moving average is $348.78 and its 200 day simple moving average is $348.87. The firm has a market cap of $86.13 billion, a PE ratio of 32.49, a P/E/G ratio of 3.11 and a beta of 1.21.

Sherwin-Williams (NYSE:SHW – Get Free Report) last announced its earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.23 by $0.02. Sherwin-Williams had a net margin of 11.63% and a return on equity of 71.86%. The business had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter in the prior year, the company posted $2.17 earnings per share. The firm’s revenue was down 1.1% on a year-over-year basis. On average, analysts predict that Sherwin-Williams will post 12 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 16th were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.92%. The ex-dividend date was Friday, May 16th. Sherwin-Williams’s dividend payout ratio (DPR) is 29.87%.

Institutional Investors Weigh In On Sherwin-Williams

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Midwest Capital Advisors LLC bought a new position in Sherwin-Williams during the 4th quarter worth $26,000. Perkins Coie Trust Co bought a new position in shares of Sherwin-Williams in the first quarter worth $27,000. Park Square Financial Group LLC acquired a new position in Sherwin-Williams in the fourth quarter valued at about $27,000. Lee Danner & Bass Inc. bought a new stake in Sherwin-Williams during the fourth quarter worth about $28,000. Finally, Synergy Investment Management LLC grew its stake in Sherwin-Williams by 583.3% during the first quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 70 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.

About Sherwin-Williams

(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.

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