Sherwin-Williams (NYSE:SHW) Stock Rating Upgraded by Bank of America

Sherwin-Williams (NYSE:SHW) was upgraded by equities researchers at Bank of America from an “underperform” rating to a “neutral” rating in a note issued to investors on Thursday,Benzinga reports. The firm presently has a $375.00 price objective on the specialty chemicals company’s stock, up from their previous price objective of $296.00. Bank of America‘s price objective would indicate a potential upside of 1.53% from the stock’s current price.

Several other equities analysts have also weighed in on the company. Royal Bank Of Canada raised their target price on Sherwin-Williams from $410.00 to $420.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Wells Fargo & Company cut their target price on Sherwin-Williams from $420.00 to $400.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. BMO Capital Markets cut their target price on Sherwin-Williams from $405.00 to $391.00 and set an “outperform” rating on the stock in a report on Wednesday, July 23rd. Morgan Stanley cut their target price on Sherwin-Williams from $405.00 to $385.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, UBS Group cut their target price on Sherwin-Williams from $410.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $388.60.

Sherwin-Williams Price Performance

Shares of NYSE:SHW opened at $369.35 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.78. Sherwin-Williams has a 1 year low of $308.84 and a 1 year high of $400.42. The business has a fifty day simple moving average of $345.71 and a 200 day simple moving average of $347.99. The firm has a market cap of $92.09 billion, a price-to-earnings ratio of 36.64, a P/E/G ratio of 3.38 and a beta of 1.16.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings data on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.76 by ($0.38). Sherwin-Williams had a return on equity of 66.91% and a net margin of 11.03%. The firm had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.31 billion. During the same quarter in the prior year, the business posted $3.70 earnings per share. Sherwin-Williams’s revenue was up .6% on a year-over-year basis. As a group, sell-side analysts predict that Sherwin-Williams will post 12 earnings per share for the current fiscal year.

Insider Transactions at Sherwin-Williams

In related news, CAO James P. Lang sold 860 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $350.35, for a total transaction of $301,301.00. Following the transaction, the chief accounting officer directly owned 377 shares in the company, valued at $132,081.95. The trade was a 69.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sherwin-Williams

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. WINTON GROUP Ltd increased its stake in Sherwin-Williams by 185.4% during the second quarter. WINTON GROUP Ltd now owns 7,084 shares of the specialty chemicals company’s stock valued at $2,432,000 after acquiring an additional 4,602 shares during the period. Natixis acquired a new stake in Sherwin-Williams during the second quarter valued at approximately $6,503,000. Ossiam boosted its holdings in Sherwin-Williams by 103.7% during the second quarter. Ossiam now owns 12,475 shares of the specialty chemicals company’s stock valued at $4,283,000 after purchasing an additional 6,350 shares in the last quarter. Cary Street Partners Financial LLC boosted its holdings in Sherwin-Williams by 25.2% during the second quarter. Cary Street Partners Financial LLC now owns 964 shares of the specialty chemicals company’s stock valued at $331,000 after purchasing an additional 194 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in Sherwin-Williams by 8.0% during the second quarter. Cerity Partners LLC now owns 84,366 shares of the specialty chemicals company’s stock valued at $28,968,000 after purchasing an additional 6,250 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors.

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.