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

Sherwin-Williams (NYSE:SHW) had its price objective upped by equities researchers at Bank of America from $289.00 to $296.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “underperform” rating on the specialty chemicals company’s stock. Bank of America‘s price target points to a potential downside of 14.40% from the company’s current price.

SHW has been the subject of a number of other research reports. Jefferies Financial Group restated a “hold” rating and set a $380.00 price objective (down previously from $423.00) on shares of Sherwin-Williams in a report on Monday, March 10th. Morgan Stanley reduced their target price on shares of Sherwin-Williams from $405.00 to $385.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. UBS Group reduced their target price 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. Mizuho set a $395.00 target price on shares of Sherwin-Williams in a research note on Tuesday, April 15th. Finally, Citigroup downgraded shares of Sherwin-Williams from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $405.00 to $385.00 in a research note on Friday, June 13th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Sherwin-Williams currently has a consensus rating of “Moderate Buy” and an average target price of $391.31.

Sherwin-Williams Stock Up 0.6%

SHW opened at $345.80 on Monday. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.77 and a quick ratio of 0.45. The company’s 50-day moving average is $348.54 and its 200 day moving average is $348.90. Sherwin-Williams has a fifty-two week low of $292.27 and a fifty-two week high of $400.42. The firm has a market capitalization of $86.66 billion, a P/E ratio of 32.68, a PEG ratio of 3.12 and a beta of 1.21.

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

Institutional Investors Weigh In On Sherwin-Williams

Several hedge funds have recently bought and sold shares of SHW. Midwest Capital Advisors LLC bought a new stake in shares of Sherwin-Williams in the 4th quarter worth approximately $26,000. Park Square Financial Group LLC bought a new stake in shares of Sherwin-Williams in the 4th quarter worth approximately $27,000. Perkins Coie Trust Co bought a new stake in Sherwin-Williams during the 1st quarter valued at $27,000. Lee Danner & Bass Inc. bought a new stake in Sherwin-Williams during the 4th quarter valued at $28,000. Finally, Synergy Investment Management LLC raised its holdings in Sherwin-Williams by 583.3% during the 1st quarter. Synergy Investment Management LLC now owns 82 shares of the specialty chemicals company’s stock valued at $29,000 after buying an additional 70 shares during the last quarter. 77.67% of the stock is currently owned by institutional investors.

Sherwin-Williams Company Profile

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.