Wells Fargo & Company Increases The Sherwin-Williams (NYSE:SHW) Price Target to $317.00

The Sherwin-Williams (NYSE:SHW) had its price target hoisted by research analysts at Wells Fargo & Company from $300.00 to $317.00 in a note issued to investors on Wednesday, The Fly reports. The brokerage presently has an “overweight” rating on the specialty chemicals company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 14.09% from the stock’s current price.

SHW has been the subject of several other research reports. Argus raised their target price on shares of The Sherwin-Williams from $263.00 to $325.00 and gave the stock a “buy” rating in a report on Tuesday, May 4th. Credit Suisse Group restated an “outperform” rating and set a $291.33 price target on shares of The Sherwin-Williams in a research report on Monday, March 15th. BMO Capital Markets boosted their price target on shares of The Sherwin-Williams from $278.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, May 3rd. Jefferies Financial Group restated a “hold” rating and set a $800.00 price target on shares of The Sherwin-Williams in a research report on Sunday, April 4th. Finally, Loop Capital boosted their price target on shares of The Sherwin-Williams from $277.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, April 28th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $325.91.

NYSE:SHW opened at $277.86 on Wednesday. The Sherwin-Williams has a 12 month low of $178.66 and a 12 month high of $293.05. The business’s fifty day moving average is $274.73. The company has a quick ratio of 0.58, a current ratio of 0.90 and a debt-to-equity ratio of 2.55. The firm has a market capitalization of $73.90 billion, a P/E ratio of 36.04, a P/E/G ratio of 2.82 and a beta of 1.08.

The Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Monday, April 26th. The specialty chemicals company reported $2.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.41. The Sherwin-Williams had a net margin of 11.23% and a return on equity of 66.09%. The business had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.51 billion. During the same period in the previous year, the firm posted $4.08 earnings per share. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, research analysts forecast that The Sherwin-Williams will post 9.24 earnings per share for the current fiscal year.

The Sherwin-Williams announced that its Board of Directors has approved a share buyback plan on Wednesday, February 17th that permits the company to repurchase 15,000,000 outstanding shares. This repurchase authorization permits the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Several large investors have recently made changes to their positions in the business. Schroder Investment Management Group increased its position in shares of The Sherwin-Williams by 47.6% in the 1st quarter. Schroder Investment Management Group now owns 204,776 shares of the specialty chemicals company’s stock valued at $151,127,000 after purchasing an additional 66,046 shares during the last quarter. Kingsview Wealth Management LLC increased its position in shares of The Sherwin-Williams by 91.6% in the 1st quarter. Kingsview Wealth Management LLC now owns 3,397 shares of the specialty chemicals company’s stock valued at $848,000 after purchasing an additional 1,624 shares during the last quarter. Stonnington Group LLC purchased a new stake in shares of The Sherwin-Williams in the 1st quarter valued at approximately $4,075,000. Colony Group LLC boosted its holdings in shares of The Sherwin-Williams by 32.4% in the 1st quarter. Colony Group LLC now owns 1,189 shares of the specialty chemicals company’s stock valued at $878,000 after buying an additional 291 shares in the last quarter. Finally, Physicians Financial Services Inc. boosted its holdings in shares of The Sherwin-Williams by 13.1% in the 1st quarter. Physicians Financial Services Inc. now owns 690 shares of the specialty chemicals company’s stock valued at $509,000 after buying an additional 80 shares in the last quarter. 27.48% of the stock is currently owned by institutional investors.

The Sherwin-Williams Company Profile

The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors, and do-it-yourself homeowners.

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