Sherwin-Williams’ (SHW) “Outperform” Rating Reaffirmed at BMO Capital Markets

Sherwin-Williams (NYSE:SHW)‘s stock had its “outperform” rating reiterated by analysts at BMO Capital Markets in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $377.00 price objective on the specialty chemicals company’s stock, down from their prior price objective of $385.00. BMO Capital Markets’ price objective would suggest a potential upside of 24.93% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Sherwin-Williams from $310.00 to $320.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Evercore ISI cut their target price on shares of Sherwin-Williams from $385.00 to $380.00 and set an “outperform” rating for the company in a research report on Tuesday, April 16th. UBS Group raised shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $312.00 to $402.00 in a research report on Thursday, March 7th. Barclays boosted their target price on shares of Sherwin-Williams from $285.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Finally, Seaport Res Ptn lowered shares of Sherwin-Williams from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $333.39.

Sherwin-Williams Price Performance

NYSE:SHW traded down $0.58 during midday trading on Wednesday, hitting $301.78. 781,270 shares of the stock were exchanged, compared to its average volume of 1,435,254. The company has a market capitalization of $76.79 billion, a price-to-earnings ratio of 32.66, a P/E/G ratio of 2.45 and a beta of 1.15. Sherwin-Williams has a one year low of $221.76 and a one year high of $348.37. The business has a 50-day moving average price of $328.40 and a two-hundred day moving average price of $298.73. The company has a current ratio of 0.83, a quick ratio of 0.48 and a debt-to-equity ratio of 2.25.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.05). Sherwin-Williams had a net margin of 10.36% and a return on equity of 74.72%. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the prior year, the company posted $2.04 EPS. Sherwin-Williams’s quarterly revenue was down 1.4% on a year-over-year basis. Sell-side analysts predict that Sherwin-Williams will post 11.46 EPS for the current year.

Insiders Place Their Bets

In related news, insider Justin T. Binns sold 1,563 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total value of $529,653.81. Following the sale, the insider now directly owns 14,564 shares of the company’s stock, valued at approximately $4,935,302.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Justin T. Binns sold 1,563 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $338.87, for a total value of $529,653.81. Following the sale, the insider now directly owns 14,564 shares of the company’s stock, valued at approximately $4,935,302.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Todd D. Rea sold 2,449 shares of Sherwin-Williams stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction of $767,859.46. Following the completion of the sale, the insider now owns 9,329 shares in the company, valued at $2,925,014.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,050 shares of company stock worth $10,340,237. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SHW. First United Bank & Trust acquired a new position in Sherwin-Williams in the 4th quarter valued at about $31,000. OFI Invest Asset Management bought a new stake in Sherwin-Williams in the 3rd quarter valued at about $25,000. Tortoise Investment Management LLC boosted its holdings in Sherwin-Williams by 158.5% in the 4th quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 65 shares during the period. Union Savings Bank bought a new stake in Sherwin-Williams in the 3rd quarter valued at about $28,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in Sherwin-Williams in the 4th quarter valued at about $35,000. 77.67% of the stock is currently owned by institutional investors and hedge funds.

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.