Sherwin-Williams (NYSE:SHW) Price Target Raised to $375.00

Sherwin-Williams (NYSE:SHW) had its target price hoisted by analysts at Morgan Stanley from $338.00 to $375.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the specialty chemicals company’s stock. Morgan Stanley’s price target would suggest a potential upside of 11.17% from the stock’s current price.

A number of other research firms have also commented on SHW. BMO Capital Markets boosted their price target on shares of Sherwin-Williams from $360.00 to $386.00 and gave the company an “outperform” rating in a research report on Wednesday. UBS Group reduced their target price on Sherwin-Williams from $385.00 to $355.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. KeyCorp raised their price target on Sherwin-Williams from $400.00 to $410.00 and gave the company an “overweight” rating in a report on Wednesday. The Goldman Sachs Group boosted their price objective on Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Evercore ISI lifted their price target on Sherwin-Williams from $360.00 to $365.00 and gave the company an “outperform” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $352.33.

Sherwin-Williams Price Performance

NYSE:SHW traded down $7.18 during mid-day trading on Wednesday, hitting $337.32. The company’s stock had a trading volume of 746,104 shares, compared to its average volume of 1,605,038. The company has a current ratio of 0.78, a quick ratio of 0.46 and a debt-to-equity ratio of 2.32. The stock has a fifty day moving average of $305.63 and a 200-day moving average of $314.07. The company has a market capitalization of $85.53 billion, a price-to-earnings ratio of 35.97, a P/E/G ratio of 2.70 and a beta of 1.16. Sherwin-Williams has a fifty-two week low of $232.06 and a fifty-two week high of $348.37.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $3.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.19. Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. The firm had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.33 billion. During the same period in the prior year, the company posted $3.29 earnings per share. The business’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, equities analysts forecast that Sherwin-Williams will post 11.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Sherwin-Williams

Institutional investors have recently modified their holdings of the stock. AIA Group Ltd grew its holdings in Sherwin-Williams by 20.8% during the fourth quarter. AIA Group Ltd now owns 16,312 shares of the specialty chemicals company’s stock valued at $5,088,000 after purchasing an additional 2,810 shares during the period. Simplicity Solutions LLC grew its position in shares of Sherwin-Williams by 182.2% in the 4th quarter. Simplicity Solutions LLC now owns 10,700 shares of the specialty chemicals company’s stock valued at $3,337,000 after purchasing an additional 6,909 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Sherwin-Williams by 5.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 261,178 shares of the specialty chemicals company’s stock worth $77,510,000 after buying an additional 13,984 shares during the period. Waterloo Capital L.P. acquired a new position in shares of Sherwin-Williams in the fourth quarter valued at approximately $360,000. Finally, Trust Point Inc. acquired a new stake in shares of Sherwin-Williams during the fourth quarter worth $403,000. 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.