Sherwin-Williams Co. (SHW) Upgraded to Buy at Argus
Sherwin-Williams Co. (NYSE:SHW) was upgraded by research analysts at Argus from a “hold” rating to a “buy” rating in a report released on Monday. The firm currently has a $300.00 price target on the stock. Argus’ price target suggests a potential upside of 10.81% from the company’s previous close.
Several other brokerages also recently weighed in on SHW. Wells Fargo & Co. initiated coverage on Sherwin-Williams in a research note on Wednesday, September 28th. They set a “market perform” rating for the company. Zacks Investment Research downgraded Sherwin-Williams from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Morgan Stanley restated a “buy” rating on shares of Sherwin-Williams in a research note on Thursday, June 16th. RBC Capital Markets reiterated an “outperform” rating and issued a $335.00 price target on shares of Sherwin-Williams in a research note on Saturday, August 13th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $330.00 price target on shares of Sherwin-Williams in a research note on Monday, July 25th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Sherwin-Williams currently has an average rating of “Buy” and a consensus price target of $324.85.
Sherwin-Williams (NYSE:SHW) traded up 0.74% during mid-day trading on Monday, reaching $270.74. The company’s stock had a trading volume of 744,639 shares. The firm has a market capitalization of $24.85 billion, a PE ratio of 22.83 and a beta of 0.92. Sherwin-Williams has a 12 month low of $234.96 and a 12 month high of $312.48. The stock’s 50-day moving average is $280.39 and its 200-day moving average is $290.49.
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Sherwin-Williams (NYSE:SHW) last announced its earnings results on Thursday, July 21st. The company reported $4.06 earnings per share for the quarter, missing the consensus estimate of $4.16 by $0.10. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.28 billion. Sherwin-Williams had a net margin of 9.50% and a return on equity of 110.16%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.70 earnings per share. On average, equities analysts anticipate that Sherwin-Williams will post $12.64 EPS for the current year.
In related news, CEO John G. Morikis sold 30,353 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $298.75, for a total transaction of $9,067,958.75. Following the transaction, the chief executive officer now owns 119,804 shares in the company, valued at $35,791,445. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joel D. Baxter sold 3,853 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $300.16, for a total transaction of $1,156,516.48. Following the transaction, the insider now owns 8,347 shares in the company, valued at approximately $2,505,435.52. The disclosure for this sale can be found here. Insiders own 1.89% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Lone Pine Capital LLC bought a new position in Sherwin-Williams during the second quarter worth approximately $335,861,000. Third Point LLC bought a new position in Sherwin-Williams during the second quarter worth approximately $205,569,000. Ameriprise Financial Inc. raised its position in Sherwin-Williams by 50.1% in the second quarter. Ameriprise Financial Inc. now owns 1,768,167 shares of the company’s stock worth $519,233,000 after buying an additional 590,350 shares in the last quarter. Capital World Investors bought a new position in Sherwin-Williams during the second quarter worth approximately $120,440,000. Finally, Meritage Group LP bought a new position in Sherwin-Williams during the second quarter worth approximately $102,270,000. Institutional investors and hedge funds own 74.62% of the company’s stock.
The Sherwin-Williams Company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company has four operating segments: Paint Stores Group, Consumer Group, Global Finishes Group and Latin America Coatings Group. The Paint Stores Group markets and sells architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.
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