Bank of America Boosts Sherwin-Williams (NYSE:SHW) Price Target to $296.00

Sherwin-Williams (NYSE:SHW - Get Free Report) had its target price upped by Bank of America from $289.00 to $296.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "underperform" rating on the specialty chemicals company's stock. Bank of America's target price indicates a potential downside of 11.08% from the company's current price.

A number of other analysts also recently issued reports on SHW. Mizuho set a $395.00 target price on Sherwin-Williams in a research report on Tuesday, April 15th. Jefferies Financial Group reaffirmed a "hold" rating and set a $380.00 price target (down previously from $423.00) on shares of Sherwin-Williams in a research report on Monday, March 10th. Wells Fargo & Company raised shares of Sherwin-Williams from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $350.00 to $420.00 in a research note on Wednesday, April 30th. Royal Bank Of Canada upped their price target on shares of Sherwin-Williams from $410.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, UBS Group cut their price target on shares of Sherwin-Williams from $430.00 to $400.00 and set a "buy" rating for the company in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $391.31.

Sherwin-Williams Trading Up 0.4%

NYSE SHW opened at $332.89 on Monday. Sherwin-Williams has a 52 week low of $292.27 and a 52 week high of $400.42. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.45 and a current ratio of 0.77. The stock's 50 day moving average price is $348.31 and its two-hundred day moving average price is $349.21. The stock has a market capitalization of $83.42 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 3.03 and a beta of 1.21.

Sherwin-Williams (NYSE:SHW - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $0.02. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.42 billion. Sherwin-Williams had a net margin of 11.63% and a return on equity of 71.86%. The firm's revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.17 earnings per share. As a group, analysts anticipate that Sherwin-Williams will post 12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sherwin-Williams

Hedge funds and other institutional investors have recently modified their holdings of the company. Voya Investment Management LLC raised its stake in Sherwin-Williams by 7.9% in the 1st quarter. Voya Investment Management LLC now owns 369,423 shares of the specialty chemicals company's stock worth $128,719,000 after purchasing an additional 27,186 shares in the last quarter. Howe & Rusling Inc. increased its stake in Sherwin-Williams by 33.9% during the 1st quarter. Howe & Rusling Inc. now owns 1,572 shares of the specialty chemicals company's stock worth $549,000 after acquiring an additional 398 shares during the period. Cim LLC raised its holdings in Sherwin-Williams by 2.7% in the 1st quarter. Cim LLC now owns 7,528 shares of the specialty chemicals company's stock valued at $2,629,000 after acquiring an additional 200 shares in the last quarter. Drummond Knight Asset Management Pty Ltd bought a new stake in shares of Sherwin-Williams during the 1st quarter valued at $10,616,000. Finally, CBIZ Investment Advisory Services LLC grew its holdings in shares of Sherwin-Williams by 41.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the specialty chemicals company's stock worth $39,000 after purchasing an additional 33 shares in the last quarter. Institutional investors and hedge funds 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.

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