Sherwin-Williams (NYSE:SHW) Given New $650.00 Price Target at Jefferies Financial Group

Sherwin-Williams (NYSE:SHW) had its price objective raised by Jefferies Financial Group from $570.00 to $650.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. They currently have a hold rating on the specialty chemicals company’s stock. Jefferies Financial Group also issued estimates for Sherwin-Williams’ Q3 2020 earnings at $7.01 EPS, Q4 2020 earnings at $4.96 EPS, FY2020 earnings at $23.20 EPS, FY2021 earnings at $26.20 EPS, FY2022 earnings at $28.35 EPS and FY2023 earnings at $31.20 EPS.

A number of other research firms also recently commented on SHW. BMO Capital Markets boosted their price target on Sherwin-Williams from $550.00 to $590.00 and gave the company a market perform rating in a research note on Tuesday, June 23rd. They noted that the move was a valuation call. Credit Suisse Group upped their price target on shares of Sherwin-Williams from $625.00 to $734.00 and gave the stock an outperform rating in a report on Wednesday. Royal Bank of Canada lifted their price objective on shares of Sherwin-Williams from $655.00 to $700.00 and gave the company an outperform rating in a research note on Wednesday. Citigroup upped their target price on Sherwin-Williams from $555.00 to $625.00 and gave the stock a buy rating in a research note on Thursday, April 30th. Finally, Morgan Stanley lifted their price target on Sherwin-Williams from $600.00 to $625.00 and gave the company an overweight rating in a research note on Thursday, June 25th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $641.95.

Shares of NYSE:SHW traded up $0.29 on Wednesday, reaching $647.92. 592,788 shares of the company’s stock were exchanged, compared to its average volume of 462,408. Sherwin-Williams has a twelve month low of $325.43 and a twelve month high of $659.87. The company has a fifty day moving average of $588.73 and a 200-day moving average of $550.00. The company has a market capitalization of $58.99 billion, a price-to-earnings ratio of 34.54, a PEG ratio of 3.10 and a beta of 1.22. The company has a current ratio of 1.10, a quick ratio of 0.57 and a debt-to-equity ratio of 2.50.

Sherwin-Williams (NYSE:SHW) last issued its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $7.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.69 by $1.41. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.55 billion. Sherwin-Williams had a return on equity of 53.67% and a net margin of 9.83%. The firm’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.57 earnings per share. As a group, equities research analysts forecast that Sherwin-Williams will post 22.66 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be issued a $1.34 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $5.36 dividend on an annualized basis and a yield of 0.83%. Sherwin-Williams’s payout ratio is 25.38%.

In other Sherwin-Williams news, insider Aaron M. Erter sold 935 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $534.70, for a total transaction of $499,944.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO David B. Sewell sold 5,752 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $571.13, for a total transaction of $3,285,139.76. Following the transaction, the chief operating officer now owns 14,100 shares of the company’s stock, valued at approximately $8,052,933. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,481 shares of company stock valued at $11,529,647. 0.55% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in SHW. JFS Wealth Advisors LLC bought a new stake in Sherwin-Williams during the first quarter valued at $25,000. Key Financial Inc acquired a new position in shares of Sherwin-Williams in the 1st quarter valued at about $29,000. Center for Financial Planning Inc. boosted its position in shares of Sherwin-Williams by 250.0% during the 1st quarter. Center for Financial Planning Inc. now owns 63 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 45 shares in the last quarter. Front Row Advisors LLC acquired a new stake in Sherwin-Williams during the first quarter worth approximately $44,000. Finally, Lindbrook Capital LLC increased its holdings in Sherwin-Williams by 50.8% in the first quarter. Lindbrook Capital LLC now owns 92 shares of the specialty chemicals company’s stock worth $42,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 76.25% 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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Analyst Recommendations for Sherwin-Williams (NYSE:SHW)

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