BMO Capital Markets Boosts Sherwin-Williams (NYSE:SHW) Price Target to $674.00

Sherwin-Williams (NYSE:SHW) had its price objective lifted by BMO Capital Markets from $590.00 to $674.00 in a report released on Wednesday morning, The Fly reports. They currently have a market perform rating on the specialty chemicals company’s stock.

A number of other research analysts also recently issued reports on SHW. Credit Suisse Group boosted their price objective on shares of Sherwin-Williams from $625.00 to $734.00 and gave the company an outperform rating in a research report on Wednesday. Loop Capital upped their target price on shares of Sherwin-Williams from $625.00 to $695.00 and gave the stock a buy rating in a research report on Wednesday. Robert W. Baird upped their target price on shares of Sherwin-Williams from $550.00 to $650.00 and gave the stock an outperform rating in a research report on Wednesday, June 24th. Citigroup upped their target price on shares of Sherwin-Williams from $555.00 to $625.00 and gave the stock a buy rating in a research report on Thursday, April 30th. Finally, Deutsche Bank upped their target price on shares of Sherwin-Williams from $675.00 to $700.00 and gave the stock a buy rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $641.95.

Shares of Sherwin-Williams stock opened at $647.92 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.57 and a debt-to-equity ratio of 2.50. The company’s fifty day simple moving average is $588.73 and its two-hundred day simple moving average is $550.00. The company has a market cap of $58.99 billion, a P/E ratio of 34.54, a PEG ratio of 3.10 and a beta of 1.22. Sherwin-Williams has a 12-month low of $325.43 and a 12-month high of $659.87.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $7.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.69 by $1.41. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.55 billion. Sherwin-Williams had a net margin of 9.83% and a return on equity of 53.67%. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.57 EPS. Analysts predict that Sherwin-Williams will post 22.66 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be issued a $1.34 dividend. The ex-dividend date is Thursday, August 20th. This represents a $5.36 annualized dividend and a dividend yield of 0.83%. Sherwin-Williams’s payout ratio is currently 25.38%.

In other Sherwin-Williams news, insider Joel D. Baxter sold 6,830 shares of Sherwin-Williams stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $580.00, for a total value of $3,961,400.00. Following the transaction, the insider now owns 8,894 shares in the company, valued at $5,158,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Aaron M. Erter sold 935 shares of Sherwin-Williams stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $534.70, for a total value of $499,944.50. The disclosure for this sale can be found here. Insiders sold 19,481 shares of company stock valued at $11,529,647 over the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quadrant Capital Group LLC lifted its holdings in Sherwin-Williams by 16.5% in the fourth quarter. Quadrant Capital Group LLC now owns 452 shares of the specialty chemicals company’s stock valued at $251,000 after acquiring an additional 64 shares during the period. Guggenheim Capital LLC grew its holdings in Sherwin-Williams by 15.5% in the 4th quarter. Guggenheim Capital LLC now owns 58,576 shares of the specialty chemicals company’s stock valued at $34,181,000 after buying an additional 7,869 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in Sherwin-Williams by 22.5% in the 4th quarter. Sunbelt Securities Inc. now owns 2,785 shares of the specialty chemicals company’s stock valued at $1,344,000 after buying an additional 512 shares in the last quarter. Institute for Wealth Management LLC. grew its holdings in shares of Sherwin-Williams by 24.5% during the 4th quarter. Institute for Wealth Management LLC. now owns 782 shares of the specialty chemicals company’s stock worth $456,000 after purchasing an additional 154 shares during the period. Finally, Wealth Quarterback LLC purchased a new position in shares of Sherwin-Williams during the 4th quarter worth $55,000. Institutional investors own 76.25% of the company’s stock.

Sherwin-Williams Company Profile

The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors and do-it-yourself homeowners.

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Analyst Recommendations for Sherwin-Williams (NYSE:SHW)

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