Sherwin-Williams (SHW) Coverage Initiated by Analysts at Raymond James Financial

Raymond James Financial began coverage on shares of Sherwin-Williams (NYSE:SHW) in a note issued to investors on Tuesday, Marketbeat reports. The brokerage set a “strong-buy” rating and a $496.00 price target on the specialty chemicals company’s stock. Raymond James Financial’s price objective indicates a potential upside of 21.52% from the company’s current price.

A number of other equities analysts have also recently commented on SHW. Royal Bank of Canada reiterated a “buy” rating and set a $455.00 price target on shares of Sherwin-Williams in a report on Thursday, December 14th. Robert W. Baird reiterated a “buy” rating and set a $375.00 price target on shares of Sherwin-Williams in a report on Friday, September 29th. Zacks Investment Research cut Sherwin-Williams from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. BidaskClub upgraded Sherwin-Williams from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 23rd. Finally, Northcoast Research reiterated a “buy” rating and set a $435.00 price target (up previously from $375.00) on shares of Sherwin-Williams in a report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Sherwin-Williams has a consensus rating of “Buy” and a consensus target price of $408.93.

Sherwin-Williams (NYSE:SHW) traded up $4.33 during trading on Tuesday, reaching $408.15. The company had a trading volume of 403,800 shares, compared to its average volume of 626,014. Sherwin-Williams has a fifty-two week low of $265.14 and a fifty-two week high of $413.98. The company has a debt-to-equity ratio of 3.68, a current ratio of 1.07 and a quick ratio of 0.68. The company has a market capitalization of $37,779.62, a PE ratio of 29.11, a P/E/G ratio of 2.25 and a beta of 1.22.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings results on Tuesday, October 24th. The specialty chemicals company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.05. Sherwin-Williams had a return on equity of 58.02% and a net margin of 7.82%. The business had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter last year, the company posted $4.23 earnings per share. Sherwin-Williams’s quarterly revenue was up 37.4% on a year-over-year basis. sell-side analysts anticipate that Sherwin-Williams will post 15.04 earnings per share for the current year.

In other news, insider Joel D. Baxter sold 2,376 shares of Sherwin-Williams stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $389.26, for a total value of $924,881.76. Following the completion of the sale, the insider now directly owns 3,302 shares in the company, valued at $1,285,336.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Robert J. Davisson sold 1,000 shares of Sherwin-Williams stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $407.11, for a total transaction of $407,110.00. The disclosure for this sale can be found here. Insiders have sold 15,122 shares of company stock valued at $5,969,846 over the last 90 days. Company insiders own 1.69% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SHW. Beach Investment Management LLC. acquired a new stake in shares of Sherwin-Williams in the second quarter valued at approximately $2,253,000. First Trust Advisors LP raised its position in shares of Sherwin-Williams by 84.7% in the second quarter. First Trust Advisors LP now owns 42,314 shares of the specialty chemicals company’s stock valued at $14,851,000 after buying an additional 19,402 shares in the last quarter. BT Investment Management Ltd acquired a new stake in shares of Sherwin-Williams in the second quarter valued at approximately $641,000. Alps Advisors Inc. raised its position in shares of Sherwin-Williams by 0.3% in the second quarter. Alps Advisors Inc. now owns 1,544 shares of the specialty chemicals company’s stock valued at $542,000 after buying an additional 4 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Sherwin-Williams by 2.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 116,950 shares of the specialty chemicals company’s stock valued at $41,045,000 after buying an additional 3,218 shares in the last quarter. Institutional investors own 75.62% of the company’s stock.

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About Sherwin-Williams

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.