Sherwin-Williams Company (The) (NYSE:SHW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $380.00 price target on the specialty chemicals company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 9.50% from the company’s previous close.

According to Zacks, “Estimates for Sherwin-Williams for the third quarter of 2017 have been going up of late. Sherwin-Williams has outperformed the industry it belongs to over the past year. The buyout of Valspar has expanded the company's brand portfolio and positioned it as a leading paints and coatings provider globally. Sherwin-Williams should gain from significant synergies of the Valspar acquisition. The company is also benefiting from its actions to cut operating costs. Moreover, it remains focused on growth through expansion of operations. “

Several other analysts have also weighed in on SHW. Royal Bank Of Canada reissued a “buy” rating on shares of Sherwin-Williams Company (The) in a report on Wednesday. KeyCorp reaffirmed a “buy” rating and issued a $415.00 price target on shares of Sherwin-Williams Company (The) in a research note on Sunday, September 3rd. Robert W. Baird reissued a “buy” rating and issued a $375.00 price objective on shares of Sherwin-Williams Company (The) in a research note on Friday, September 1st. BidaskClub raised Sherwin-Williams Company (The) from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 23rd. Finally, UBS AG reissued a “neutral” rating and issued a $375.00 price objective (up previously from $359.00) on shares of Sherwin-Williams Company (The) in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $364.46.

Sherwin-Williams Company (NYSE SHW) traded up 1.25% on Wednesday, hitting $347.04. 763,424 shares of the stock were exchanged. Sherwin-Williams Company has a 52 week low of $239.48 and a 52 week high of $362.57. The company’s 50-day moving average is $338.02 and its 200-day moving average is $334.83. The company has a market cap of $32.22 billion, a PE ratio of 28.61 and a beta of 1.22.

Sherwin-Williams Company (The) (NYSE:SHW) last issued its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $4.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.54 by ($0.02). The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.83 billion. Sherwin-Williams Company (The) had a net margin of 9.14% and a return on equity of 63.81%. The firm’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the business posted $4.06 earnings per share. On average, analysts predict that Sherwin-Williams Company will post $14.98 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHW. BlackRock Inc. increased its holdings in Sherwin-Williams Company (The) by 1,591.2% in the first quarter. BlackRock Inc. now owns 5,267,993 shares of the specialty chemicals company’s stock valued at $1,634,079,000 after purchasing an additional 4,956,505 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Sherwin-Williams Company (The) by 10,157.5% in the second quarter. Janus Henderson Group PLC now owns 1,043,902 shares of the specialty chemicals company’s stock valued at $366,368,000 after purchasing an additional 1,033,725 shares during the last quarter. Jana Partners LLC bought a new stake in Sherwin-Williams Company (The) in the first quarter valued at about $203,163,000. Renaissance Technologies LLC increased its holdings in Sherwin-Williams Company (The) by 195.1% in the first quarter. Renaissance Technologies LLC now owns 961,900 shares of the specialty chemicals company’s stock valued at $298,372,000 after purchasing an additional 635,900 shares during the last quarter. Finally, FMR LLC increased its holdings in Sherwin-Williams Company (The) by 18.1% in the second quarter. FMR LLC now owns 4,054,902 shares of the specialty chemicals company’s stock valued at $1,423,109,000 after purchasing an additional 621,190 shares during the last quarter. Institutional investors and hedge funds own 73.82% of the company’s stock.

About Sherwin-Williams Company (The)

The Sherwin-Williams Company (Sherwin-Williams) is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company’s segments are Paint Stores Group, Consumer Group, Global Finishes Group, Latin America Coatings Group and Administrative. The Paint Stores Group markets and sells Sherwin-Williams branded architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items.

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Analyst Recommendations for Sherwin-Williams Company (The) (NYSE:SHW)

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