Sherwin-Williams (NYSE:SHW) Given New $631.00 Price Target at Citigroup

Sherwin-Williams (NYSE:SHW) had its price objective boosted by Citigroup from $525.00 to $631.00 in a research note published on Wednesday morning, BenzingaRatingsTable reports. They currently have a buy rating on the specialty chemicals company’s stock.

Several other equities analysts have also commented on the stock. Robert W. Baird set a $600.00 price target on shares of Sherwin-Williams and gave the stock a buy rating in a research report on Wednesday, August 21st. Susquehanna Bancshares upped their price target on shares of Sherwin-Williams from $545.00 to $580.00 and gave the stock a positive rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their price target on shares of Sherwin-Williams to $550.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. Buckingham Research upped their price target on shares of Sherwin-Williams from $440.00 to $460.00 and gave the stock a neutral rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of Sherwin-Williams from $435.00 to $490.00 and gave the stock a neutral rating in a research report on Wednesday, July 24th. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $539.26.

Shares of NYSE:SHW traded down $1.12 during trading on Wednesday, reaching $554.54. The stock had a trading volume of 3,652 shares, compared to its average volume of 451,044. The business has a fifty day moving average price of $535.46 and a 200-day moving average price of $479.91. The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 2.29. The stock has a market cap of $50.67 billion, a P/E ratio of 29.85, a PEG ratio of 2.16 and a beta of 1.27. Sherwin-Williams has a fifty-two week low of $355.28 and a fifty-two week high of $557.08.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Tuesday, July 23rd. The specialty chemicals company reported $6.57 earnings per share for the quarter, beating analysts’ consensus estimates of $6.35 by $0.22. The business had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.94 billion. Sherwin-Williams had a net margin of 6.61% and a return on equity of 48.92%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.73 earnings per share. As a group, equities analysts forecast that Sherwin-Williams will post 21.12 EPS for the current year.

In other Sherwin-Williams news, insider David B. Sewell sold 4,709 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $493.52, for a total transaction of $2,323,985.68. Following the completion of the sale, the insider now directly owns 12,604 shares in the company, valued at $6,220,326.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Peter J. Ippolito sold 5,284 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $513.05, for a total transaction of $2,710,956.20. Following the sale, the insider now owns 4,284 shares of the company’s stock, valued at $2,197,906.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,121 shares of company stock valued at $6,134,153. 0.50% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thor Advisors LLC purchased a new stake in Sherwin-Williams during the first quarter worth approximately $25,000. Krane Funds Advisors LLC purchased a new position in shares of Sherwin-Williams in the second quarter valued at $25,000. Tortoise Investment Management LLC boosted its stake in shares of Sherwin-Williams by 235.3% in the second quarter. Tortoise Investment Management LLC now owns 57 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 40 shares during the period. Hexavest Inc. purchased a new position in shares of Sherwin-Williams in the second quarter valued at $27,000. Finally, Next Capital Management LLC purchased a new position in shares of Sherwin-Williams in the second quarter valued at $27,000. Institutional investors own 76.67% of the company’s stock.

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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