Evercore ISI Forecasts Strong Price Appreciation for Sherwin-Williams (NYSE:SHW) Stock

Sherwin-Williams (NYSE:SHW) had its price objective lifted by Evercore ISI from $400.00 to $420.00 in a research report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

A number of other brokerages have also weighed in on SHW. Royal Bank of Canada cut their target price on shares of Sherwin-Williams from $455.00 to $446.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Citigroup cut their price objective on Sherwin-Williams from $430.00 to $420.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. The Goldman Sachs Group increased their target price on Sherwin-Williams from $344.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Morgan Stanley boosted their price target on Sherwin-Williams from $375.00 to $450.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Sherwin-Williams in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Sherwin-Williams has a consensus rating of “Moderate Buy” and a consensus target price of $396.47.

Sherwin-Williams Trading Up 0.7 %

Shares of SHW opened at $386.67 on Thursday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83. Sherwin-Williams has a 52-week low of $251.69 and a 52-week high of $392.57. The firm has a market cap of $97.38 billion, a price-to-earnings ratio of 38.51, a PEG ratio of 3.07 and a beta of 1.17. The business’s fifty day moving average is $374.21 and its 200-day moving average is $338.89.

Sherwin-Williams (NYSE:SHW) last issued its earnings results on Tuesday, October 22nd. The specialty chemicals company reported $3.37 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.19). The business had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.20 billion. Sherwin-Williams had a return on equity of 74.45% and a net margin of 11.09%. The firm’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.20 EPS. Equities analysts anticipate that Sherwin-Williams will post 11.32 EPS for the current fiscal year.

Sherwin-Williams Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a $0.715 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.86 dividend on an annualized basis and a yield of 0.74%. Sherwin-Williams’s payout ratio is currently 28.49%.

Insiders Place Their Bets

In other news, CFO Allen J. Mistysyn sold 14,520 shares of Sherwin-Williams stock in a transaction on Friday, August 30th. The shares were sold at an average price of $366.83, for a total value of $5,326,371.60. Following the completion of the sale, the chief financial officer now owns 63,520 shares in the company, valued at $23,301,041.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. PineStone Asset Management Inc. grew its holdings in shares of Sherwin-Williams by 132.8% during the second quarter. PineStone Asset Management Inc. now owns 1,609,392 shares of the specialty chemicals company’s stock valued at $480,291,000 after buying an additional 917,979 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Sherwin-Williams by 610.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,045,374 shares of the specialty chemicals company’s stock valued at $311,971,000 after acquiring an additional 898,143 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Sherwin-Williams by 40,317.4% during the 3rd quarter. International Assets Investment Management LLC now owns 726,705 shares of the specialty chemicals company’s stock valued at $277,361,000 after purchasing an additional 724,907 shares during the last quarter. Jensen Investment Management Inc. bought a new stake in Sherwin-Williams during the 2nd quarter worth approximately $169,770,000. Finally, 1832 Asset Management L.P. raised its stake in shares of Sherwin-Williams by 54.0% in the second quarter. 1832 Asset Management L.P. now owns 1,416,257 shares of the specialty chemicals company’s stock worth $422,654,000 after purchasing an additional 496,326 shares during the last quarter. 77.67% of the stock is owned by institutional investors and hedge funds.

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.