Sherwin-Williams (SHW) Upgraded to Buy at Zacks Investment Research

Sherwin-Williams (NYSE:SHW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, April 3rd. The brokerage currently has a $428.00 target price on the specialty chemicals company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.04% from the company’s previous close.

According to Zacks, “Sherwin-Williams has outperformed the industry it belongs to over a year. The buyout of Valspar has positioned the company as a leading paints and coatings provider globally. Sherwin-Williams should gain from significant synergies of the Valspar acquisition. The company is also benefiting from its actions to cut operating costs. It also remains focused on growth through expansion of operations.”

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SHW has been the topic of a number of other reports. KeyCorp reiterated a “buy” rating and issued a $500.00 price objective (up from $465.00) on shares of Sherwin-Williams in a research report on Monday, January 29th. They noted that the move was a valuation call. Royal Bank of Canada reiterated a “buy” rating on shares of Sherwin-Williams in a research report on Sunday, January 28th. Bank of America lifted their price objective on Sherwin-Williams from $435.00 to $470.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Citigroup raised their target price on Sherwin-Williams to $486.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Finally, Moffett Nathanson initiated coverage on Sherwin-Williams in a research note on Monday, December 4th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Sherwin-Williams presently has a consensus rating of “Buy” and a consensus price target of $435.33.

Shares of NYSE SHW opened at $385.43 on Tuesday. The stock has a market cap of $36,342.70, a P/E ratio of 26.68, a PEG ratio of 1.73 and a beta of 1.17. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.67 and a current ratio of 1.12. Sherwin-Williams has a 1-year low of $309.03 and a 1-year high of $435.15.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Thursday, January 25th. The specialty chemicals company reported $2.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.18 by ($0.23). Sherwin-Williams had a return on equity of 50.59% and a net margin of 11.83%. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the previous year, the business earned $2.15 earnings per share. Sherwin-Williams’s revenue was up 43.0% compared to the same quarter last year. equities analysts expect that Sherwin-Williams will post 19.09 earnings per share for the current year.

In other news, insider Peter J. Ippolito sold 750 shares of the company’s stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $409.26, for a total value of $306,945.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.78% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC lifted its position in shares of Sherwin-Williams by 28.2% in the third quarter. Janney Montgomery Scott LLC now owns 22,929 shares of the specialty chemicals company’s stock worth $8,209,000 after buying an additional 5,041 shares in the last quarter. Janus Henderson Group PLC raised its position in Sherwin-Williams by 27.6% during the third quarter. Janus Henderson Group PLC now owns 1,332,394 shares of the specialty chemicals company’s stock valued at $477,049,000 after purchasing an additional 288,492 shares during the period. Carderock Capital Management Inc. raised its position in Sherwin-Williams by 4.3% during the third quarter. Carderock Capital Management Inc. now owns 6,495 shares of the specialty chemicals company’s stock valued at $2,325,000 after purchasing an additional 270 shares during the period. Atlantic Trust Group LLC purchased a new stake in Sherwin-Williams during the third quarter valued at approximately $87,798,000. Finally, Geode Capital Management LLC raised its position in Sherwin-Williams by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 914,472 shares of the specialty chemicals company’s stock valued at $374,223,000 after purchasing an additional 26,623 shares during the period. Institutional investors own 75.46% of the company’s stock.

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About Sherwin-Williams

The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers primarily in North and South America, the Caribbean, Europe, Asia, and Australia. The company operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group.

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