Sherwin-Williams (NYSE:SHW) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Sherwin-Williams (NYSE:SHW) had its price objective increased by stock analysts at Royal Bank of Canada from $410.00 to $420.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 16.75% from the stock’s previous close.

A number of other brokerages have also weighed in on SHW. Barclays decreased their price objective on shares of Sherwin-Williams from $385.00 to $355.00 and set an “equal weight” rating for the company in a report on Tuesday, April 1st. Mizuho set a $395.00 price objective on Sherwin-Williams in a research report on Tuesday, April 15th. JPMorgan Chase & Co. boosted their target price on Sherwin-Williams from $370.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $380.00 price target (down previously from $423.00) on shares of Sherwin-Williams in a report on Monday, March 10th. Finally, Morgan Stanley decreased their price objective on shares of Sherwin-Williams from $405.00 to $385.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $397.00.

Sherwin-Williams Stock Up 1.7 %

Shares of NYSE:SHW opened at $359.74 on Thursday. Sherwin-Williams has a 12-month low of $282.09 and a 12-month high of $400.42. The stock has a market capitalization of $90.48 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 2.98 and a beta of 1.26. The stock has a fifty day simple moving average of $342.22 and a two-hundred day simple moving average of $356.33. The company has a current ratio of 0.79, a quick ratio of 0.46 and a debt-to-equity ratio of 2.02.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.02. The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.42 billion. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. Sherwin-Williams’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.17 EPS. On average, research analysts anticipate that Sherwin-Williams will post 12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sherwin-Williams news, insider Colin M. Davie sold 2,799 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $360.30, for a total value of $1,008,479.70. Following the completion of the sale, the insider now owns 5,365 shares in the company, valued at approximately $1,933,009.50. This represents a 34.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.60% of the stock is currently owned by insiders.

Institutional Trading of Sherwin-Williams

Institutional investors have recently made changes to their positions in the business. Voleon Capital Management LP bought a new position in Sherwin-Williams in the 4th quarter worth approximately $2,011,000. Merit Financial Group LLC grew its stake in Sherwin-Williams by 80.0% during the fourth quarter. Merit Financial Group LLC now owns 1,177 shares of the specialty chemicals company’s stock valued at $400,000 after acquiring an additional 523 shares in the last quarter. Park Avenue Securities LLC increased its holdings in Sherwin-Williams by 52.6% in the 4th quarter. Park Avenue Securities LLC now owns 6,680 shares of the specialty chemicals company’s stock valued at $2,271,000 after acquiring an additional 2,303 shares during the last quarter. Burney Co. lifted its stake in Sherwin-Williams by 4.6% in the 4th quarter. Burney Co. now owns 17,272 shares of the specialty chemicals company’s stock worth $5,871,000 after purchasing an additional 766 shares in the last quarter. Finally, Kerusso Capital Management LLC boosted its holdings in shares of Sherwin-Williams by 75.9% during the 4th quarter. Kerusso Capital Management LLC now owns 10,290 shares of the specialty chemicals company’s stock valued at $3,498,000 after purchasing an additional 4,439 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.

Sherwin-Williams Company Profile

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.