BMO Capital Markets Reiterates “Outperform” Rating for Sherwin-Williams (NYSE:SHW)

Sherwin-Williams (NYSE:SHW)‘s stock had its “outperform” rating reaffirmed by research analysts at BMO Capital Markets in a note issued to investors on Wednesday, Benzinga reports. They presently have a $400.00 price target on the specialty chemicals company’s stock, up from their previous price target of $386.00. BMO Capital Markets’ price objective would suggest a potential upside of 11.09% from the stock’s previous close.

Several other brokerages have also recently issued reports on SHW. Wells Fargo & Company lifted their price objective on Sherwin-Williams from $320.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Jefferies Financial Group boosted their price objective on shares of Sherwin-Williams from $392.00 to $415.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Robert W. Baird raised their target price on shares of Sherwin-Williams from $310.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Redburn Atlantic raised shares of Sherwin-Williams to a “strong-buy” rating in a report on Thursday, July 18th. Finally, The Goldman Sachs Group raised their price objective on shares of Sherwin-Williams from $344.00 to $390.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Sherwin-Williams currently has an average rating of “Moderate Buy” and a consensus target price of $362.68.

Sherwin-Williams Price Performance

Sherwin-Williams stock opened at $360.08 on Wednesday. The company has a market cap of $90.83 billion, a P/E ratio of 38.39, a price-to-earnings-growth ratio of 2.90 and a beta of 1.17. Sherwin-Williams has a one year low of $232.06 and a one year high of $371.19. The business has a fifty day moving average of $337.97 and a two-hundred day moving average of $324.52. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.50 and a current ratio of 0.81.

Sherwin-Williams (NYSE:SHW) last released its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a net margin of 10.92% and a return on equity of 75.58%. The firm had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.33 billion. During the same quarter in the previous year, the firm earned $3.29 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. As a group, analysts predict that Sherwin-Williams will post 11.47 earnings per share for the current fiscal year.

Insider Transactions at Sherwin-Williams

In related news, CFO Allen J. Mistysyn sold 14,520 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $366.83, for a total transaction of $5,326,371.60. Following the completion of the sale, the chief financial officer now owns 63,520 shares of the company’s stock, valued at approximately $23,301,041.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Sherwin-Williams

Several institutional investors have recently bought and sold shares of SHW. HHM Wealth Advisors LLC lifted its holdings in shares of Sherwin-Williams by 102.3% during the 2nd quarter. HHM Wealth Advisors LLC now owns 89 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 45 shares in the last quarter. First United Bank & Trust acquired a new position in Sherwin-Williams during the 4th quarter worth approximately $31,000. Semmax Financial Advisors Inc. boosted its holdings in Sherwin-Williams by 136.4% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 104 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 60 shares during the period. Tortoise Investment Management LLC grew its position in Sherwin-Williams by 158.5% in the fourth quarter. Tortoise Investment Management LLC now owns 106 shares of the specialty chemicals company’s stock valued at $33,000 after acquiring an additional 65 shares in the last quarter. Finally, VitalStone Financial LLC raised its stake in shares of Sherwin-Williams by 233.3% during the second quarter. VitalStone Financial LLC now owns 110 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 77 shares during the period. 77.67% of the stock is currently 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.