Sherwin-Williams (NYSE:SHW) Stock Rating Upgraded by Berenberg Bank

Sherwin-Williams (NYSE:SHW) was upgraded by research analysts at Berenberg Bank from a “hold” rating to a “buy” rating in a report released on Friday, MarketBeat Ratings reports. The firm presently has a $420.00 target price on the specialty chemicals company’s stock, up from their prior target price of $321.00. Berenberg Bank’s price objective would suggest a potential upside of 16.25% from the company’s current price.

Other research analysts have also recently issued research reports about the company. KeyCorp restated a “sector weight” rating on shares of Sherwin-Williams in a research report on Monday, October 7th. Barclays lifted their target price on shares of Sherwin-Williams from $355.00 to $370.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. UBS Group reaffirmed an “underperform” rating on shares of Sherwin-Williams in a report on Friday, October 18th. JPMorgan Chase & Co. raised their price objective on shares of Sherwin-Williams from $360.00 to $370.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley upped their target price on Sherwin-Williams from $375.00 to $450.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $403.29.

Sherwin-Williams Price Performance

Shares of NYSE SHW opened at $361.28 on Friday. The company’s fifty day moving average is $362.14 and its two-hundred day moving average is $361.13. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.51 and a current ratio of 0.83. The firm has a market capitalization of $90.99 billion, a P/E ratio of 35.98, a PEG ratio of 2.78 and a beta of 1.22. Sherwin-Williams has a one year low of $282.09 and a one year high of $400.42.

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

Insider Transactions at Sherwin-Williams

In other Sherwin-Williams news, SVP Mary L. Garceau sold 15,770 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $397.92, for a total transaction of $6,275,198.40. Following the completion of the sale, the senior vice president now directly owns 29,205 shares in the company, valued at $11,621,253.60. This represents a 35.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Gregory P. Sofish sold 2,565 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $378.63, for a total transaction of $971,185.95. Following the completion of the transaction, the senior vice president now owns 6,329 shares in the company, valued at $2,396,349.27. The trade was a 28.84 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Sherwin-Williams

Several hedge funds have recently modified their holdings of the stock. Griffin Asset Management Inc. grew its position in Sherwin-Williams by 0.3% in the third quarter. Griffin Asset Management Inc. now owns 9,296 shares of the specialty chemicals company’s stock valued at $3,548,000 after acquiring an additional 26 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in Sherwin-Williams by 2.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 1,201 shares of the specialty chemicals company’s stock valued at $458,000 after purchasing an additional 28 shares in the last quarter. GHP Investment Advisors Inc. lifted its holdings in Sherwin-Williams by 47.5% in the 3rd quarter. GHP Investment Advisors Inc. now owns 87 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 28 shares in the last quarter. Allworth Financial LP boosted its position in Sherwin-Williams by 1.8% in the 3rd quarter. Allworth Financial LP now owns 1,560 shares of the specialty chemicals company’s stock valued at $595,000 after buying an additional 28 shares during the last quarter. Finally, First Interstate Bank boosted its position in Sherwin-Williams by 1.9% in the 3rd quarter. First Interstate Bank now owns 1,466 shares of the specialty chemicals company’s stock valued at $560,000 after buying an additional 28 shares during the last quarter. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

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.