Sherwin-Williams (SHW) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Sherwin-Williams (NYSE:SHW) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. They currently have $428.00 target price on the specialty chemicals company’s stock.

According to Zacks, “Sherwin-Williams has outperformed the industry it belongs to over a year. The buyout of Valspar has positioned the company as a leading paints and coatings provider globally. Sherwin-Williams should gain from significant synergies of the Valspar acquisition. The company is also benefiting from its actions to cut operating costs. It also remains focused on growth through expansion of operations.”

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Other equities analysts also recently issued research reports about the company. Robert W. Baird restated a buy rating and issued a $475.00 target price on shares of Sherwin-Williams in a research note on Wednesday, January 10th. Royal Bank of Canada restated a buy rating on shares of Sherwin-Williams in a research note on Sunday, January 28th. Bank of America boosted their target price on Sherwin-Williams from $435.00 to $470.00 and gave the stock a buy rating in a research note on Friday, January 26th. KeyCorp restated a buy rating and issued a $500.00 target price (up previously from $465.00) on shares of Sherwin-Williams in a research note on Monday, January 29th. They noted that the move was a valuation call. Finally, Seaport Global Securities upgraded Sherwin-Williams from a neutral rating to a buy rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $435.33.

Shares of NYSE SHW opened at $385.71 on Tuesday. Sherwin-Williams has a twelve month low of $308.30 and a twelve month high of $435.15. The company has a market capitalization of $37,298.62, a PE ratio of 27.39, a price-to-earnings-growth ratio of 1.77 and a beta of 1.17. The company has a current ratio of 1.12, a quick ratio of 0.67 and a debt-to-equity ratio of 2.68.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Thursday, January 25th. The specialty chemicals company reported $2.95 earnings per share for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). Sherwin-Williams had a return on equity of 50.59% and a net margin of 11.83%. The business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter in the previous year, the firm earned $2.15 EPS. Sherwin-Williams’s quarterly revenue was up 43.0% on a year-over-year basis. analysts forecast that Sherwin-Williams will post 19.09 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Monday, February 26th were issued a dividend of $0.86 per share. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $3.44 dividend on an annualized basis and a yield of 0.89%. Sherwin-Williams’s payout ratio is presently 24.11%.

In other Sherwin-Williams news, insider Peter J. Ippolito sold 750 shares of the business’s stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $409.26, for a total transaction of $306,945.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.78% of the company’s stock.

A number of hedge funds have recently modified their holdings of SHW. USA Mutuals Advisors Inc. bought a new stake in Sherwin-Williams during the 4th quarter valued at $106,000. BTIM Corp. bought a new stake in Sherwin-Williams during the 4th quarter valued at $202,000. Chemung Canal Trust Co. bought a new stake in Sherwin-Williams during the 4th quarter valued at $204,000. New England Research & Management Inc. bought a new stake in Sherwin-Williams during the 4th quarter valued at $205,000. Finally, S. R. Schill & Associates bought a new stake in Sherwin-Williams during the 4th quarter valued at $205,000. 75.45% of the stock is currently owned by institutional investors and hedge funds.

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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 primarily in North and South America, the Caribbean, Europe, Asia, and Australia. The company operates in three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group.

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