Sherwin-Williams (NYSE:SHW) Price Target Raised to $650.00 at Jefferies Financial Group

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Sherwin-Williams (NYSE:SHW) had its price target raised by Jefferies Financial Group from $570.00 to $650.00 in a research note published on Wednesday, BenzingaRatingsTable reports. Jefferies Financial Group currently has a hold rating on the specialty chemicals company’s stock. Jefferies Financial Group also issued estimates for Sherwin-Williams’ Q3 2020 earnings at $7.01 EPS, Q4 2020 earnings at $4.96 EPS, FY2020 earnings at $23.20 EPS, FY2021 earnings at $26.20 EPS, FY2022 earnings at $28.35 EPS and FY2023 earnings at $31.20 EPS.

Several other equities analysts have also issued reports on SHW. Deutsche Bank lifted their price target on shares of Sherwin-Williams from $675.00 to $700.00 and gave the stock a buy rating in a report on Wednesday. Stifel Nicolaus reaffirmed a hold rating on shares of Sherwin-Williams in a report on Thursday, April 30th. Wells Fargo & Co lifted their price target on shares of Sherwin-Williams from $640.00 to $675.00 and gave the stock an overweight rating in a report on Wednesday, July 22nd. Robert W. Baird lifted their price target on shares of Sherwin-Williams from $550.00 to $650.00 and gave the stock an outperform rating in a report on Wednesday, June 24th. Finally, Morgan Stanley lifted their price target on shares of Sherwin-Williams from $600.00 to $625.00 and gave the stock an overweight rating in a report on Thursday, June 25th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $641.95.

Shares of SHW stock opened at $647.92 on Wednesday. The firm has a market cap of $58.99 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 3.10 and a beta of 1.22. The company’s 50 day moving average is $588.73 and its 200 day moving average is $550.00. The company has a quick ratio of 0.57, a current ratio of 1.10 and a debt-to-equity ratio of 2.50. Sherwin-Williams has a 52-week low of $325.43 and a 52-week 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 Thomson Reuters’ consensus estimate of $5.69 by $1.41. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.55 billion. Sherwin-Williams had a net margin of 9.83% and a return on equity of 53.67%. Sherwin-Williams’s revenue was down 5.7% compared to the same quarter last year. During the same period last year, the company posted $6.57 earnings per share. Analysts anticipate that Sherwin-Williams will post 22.66 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a dividend of $1.34 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $5.36 dividend on an annualized basis and a yield of 0.83%. Sherwin-Williams’s dividend payout ratio is presently 25.38%.

In other Sherwin-Williams news, Director Susan J. Kropf sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $592.80, for a total value of $592,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Thomas P. Gilligan sold 4,964 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $642.70, for a total transaction of $3,190,362.80. Following the completion of the transaction, the senior vice president now owns 8,751 shares of the company’s stock, valued at approximately $5,624,267.70. The disclosure for this sale can be found here. Insiders have 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 insiders.

Institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. raised its position in shares of Sherwin-Williams by 3.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 34,549 shares of the specialty chemicals company’s stock worth $19,978,000 after acquiring an additional 993 shares during the period. Harvest Fund Management Co. Ltd raised its position in shares of Sherwin-Williams by 22.2% in the first quarter. Harvest Fund Management Co. Ltd now owns 413 shares of the specialty chemicals company’s stock worth $190,000 after acquiring an additional 75 shares during the period. State of Alaska Department of Revenue raised its position in shares of Sherwin-Williams by 48.2% in the second quarter. State of Alaska Department of Revenue now owns 20,943 shares of the specialty chemicals company’s stock worth $12,101,000 after acquiring an additional 6,815 shares during the period. M&G Investment Management Ltd. acquired a new position in shares of Sherwin-Williams in the second quarter worth about $209,000. Finally, Ipswich Investment Management Co. Inc. increased its stake in shares of Sherwin-Williams by 5.5% during the first quarter. Ipswich Investment Management Co. Inc. now owns 476 shares of the specialty chemicals company’s stock worth $219,000 after purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds own 76.25% of the company’s stock.

About Sherwin-Williams

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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