Bank of America Lowers Sherwin-Williams (NYSE:SHW) Price Target to $368.00

Key Points

• Bank of America has lowered the price target for Sherwin-Williams from $375.00 to $368.00, maintaining a "neutral" rating.
• Other analysts have also adjusted their targets, with BMO Capital Markets reducing theirs to $391.00 while Evercore ISI raised theirs to $400.00.
• Sherwin-Williams reported Q2 earnings of $3.38 per share, missing estimates, and has set a forecast of $11.200-11.500 EPS for FY 2025.

Sherwin-Williams (NYSE:SHW - Get Free Report) had its price objective reduced by investment analysts at Bank of America from $375.00 to $368.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the specialty chemicals company's stock. Bank of America's target price would suggest a potential upside of 10.85% from the stock's previous close.

A number of other research analysts have also recently weighed in on the stock. BMO Capital Markets lowered their target price on shares of Sherwin-Williams from $405.00 to $391.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. Weiss Ratings restated a "buy (b-)" rating on shares of Sherwin-Williams in a research note on Wednesday, October 8th. Evercore ISI lifted their target price on shares of Sherwin-Williams from $380.00 to $400.00 and gave the company an "outperform" rating in a research note on Tuesday, August 26th. JPMorgan Chase & Co. reduced their price target on shares of Sherwin-Williams from $390.00 to $378.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company set a $395.00 price target on shares of Sherwin-Williams and gave the company an "overweight" rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $387.13.

Sherwin-Williams Trading Down 0.2%

Shares of Sherwin-Williams stock opened at $331.98 on Tuesday. The company's fifty day simple moving average is $354.70 and its 200-day simple moving average is $348.40. The stock has a market capitalization of $82.77 billion, a PE ratio of 32.93, a P/E/G ratio of 2.76 and a beta of 1.20. Sherwin-Williams has a 1-year low of $308.84 and a 1-year high of $400.42. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.78 and a quick ratio of 0.48.

Sherwin-Williams (NYSE:SHW - Get Free Report) last released its earnings results on Tuesday, July 22nd. The specialty chemicals company reported $3.38 earnings per share for the quarter, missing analysts' consensus estimates of $3.76 by ($0.38). Sherwin-Williams had a net margin of 11.03% and a return on equity of 66.91%. The firm had revenue of $6.31 billion for the quarter, compared to analysts' expectations of $6.31 billion. During the same quarter last year, the firm posted $3.70 EPS. The firm's quarterly revenue was up .6% compared to the same quarter last year. Sherwin-Williams has set its FY 2025 guidance at 11.200-11.500 EPS. As a group, equities analysts anticipate that Sherwin-Williams will post 12 earnings per share for the current year.

Insider Transactions at Sherwin-Williams

In related news, insider Justin T. Binns sold 609 shares of Sherwin-Williams stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $368.82, for a total transaction of $224,611.38. Following the completion of the transaction, the insider directly owned 17,922 shares of the company's stock, valued at approximately $6,609,992.04. The trade was a 3.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO James P. Lang sold 860 shares of Sherwin-Williams 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 of the company's stock, valued at approximately $132,081.95. This represents a 69.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Sherwin-Williams

Several large investors have recently added to or reduced their stakes in SHW. MTM Investment Management LLC purchased a new stake in Sherwin-Williams in the 2nd quarter valued at about $26,000. Valley National Advisers Inc. lifted its position in shares of Sherwin-Williams by 68.0% in the 2nd quarter. Valley National Advisers Inc. now owns 84 shares of the specialty chemicals company's stock worth $28,000 after purchasing an additional 34 shares during the period. Synergy Investment Management LLC lifted its position in shares of Sherwin-Williams by 583.3% in the 1st quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company's stock worth $29,000 after purchasing an additional 70 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Sherwin-Williams in the 1st quarter worth approximately $30,000. Finally, Vermillion & White Wealth Management Group LLC lifted its position in shares of Sherwin-Williams by 104.8% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 86 shares of the specialty chemicals company's stock worth $30,000 after purchasing an additional 44 shares during the period. 77.67% of the stock is owned by hedge funds and other institutional investors.

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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