BMO Capital Markets Reiterates “Outperform” Rating for Sherwin-Williams (NYSE:SHW)

Sherwin-Williams (NYSE:SHW)‘s stock had its “outperform” rating reissued by investment analysts at BMO Capital Markets in a note issued to investors on Wednesday, Benzinga reports. They currently have a $377.00 target price on the specialty chemicals company’s stock, down from their previous target price of $385.00. BMO Capital Markets’ target price suggests a potential upside of 23.69% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Citigroup increased their target price on shares of Sherwin-Williams from $360.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Mizuho lowered their price objective on shares of Sherwin-Williams from $340.00 to $334.00 and set a “buy” rating for the company in a research report on Wednesday. UBS Group upgraded shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and raised their price objective for the company from $312.00 to $402.00 in a research report on Thursday, March 7th. Barclays raised their price objective on shares of Sherwin-Williams from $285.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Sherwin-Williams from $317.00 to $315.00 and set an “overweight” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Sherwin-Williams presently has an average rating of “Moderate Buy” and a consensus target price of $337.37.

Sherwin-Williams Trading Up 0.4 %

Shares of Sherwin-Williams stock opened at $304.80 on Wednesday. The stock has a market capitalization of $77.56 billion, a P/E ratio of 32.49, a price-to-earnings-growth ratio of 2.41 and a beta of 1.15. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 2.32. The company has a 50-day simple moving average of $328.10 and a 200 day simple moving average of $298.81. Sherwin-Williams has a 12-month low of $221.76 and a 12-month high of $348.37.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.50 billion. Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.04 EPS. Research analysts expect that Sherwin-Williams will post 11.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Gregory P. Sofish sold 1,830 shares of Sherwin-Williams stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $320.70, for a total transaction of $586,881.00. Following the transaction, the senior vice president now owns 6,329 shares of the company’s stock, valued at approximately $2,029,710.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Gregory P. Sofish sold 1,830 shares of Sherwin-Williams stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $320.70, for a total transaction of $586,881.00. Following the transaction, the senior vice president now owns 6,329 shares of the company’s stock, valued at approximately $2,029,710.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Todd D. Rea sold 2,449 shares of Sherwin-Williams stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total transaction of $767,859.46. Following the transaction, the insider now directly owns 9,329 shares in the company, valued at approximately $2,925,014.66. The disclosure for this sale can be found here. Insiders have sold 32,050 shares of company stock valued at $10,340,237 in the last 90 days. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Sherwin-Williams

Several large investors have recently made changes to their positions in SHW. First United Bank & Trust acquired a new position in Sherwin-Williams in the 4th quarter worth $31,000. OFI Invest Asset Management acquired a new position in shares of Sherwin-Williams during the third quarter worth about $25,000. Tortoise Investment Management LLC grew its holdings in shares of Sherwin-Williams by 158.5% during the fourth quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 65 shares in the last quarter. Union Savings Bank acquired a new stake in Sherwin-Williams in the 3rd quarter valued at approximately $28,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in Sherwin-Williams in the 4th quarter valued at approximately $35,000. Institutional investors own 77.67% of the company’s stock.

About Sherwin-Williams

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.