KeyCorp Raises The Sherwin-Williams (NYSE:SHW) Price Target to $300.00

The Sherwin-Williams (NYSE:SHW) had its price objective raised by research analysts at KeyCorp from $268.00 to $300.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the specialty chemicals company’s stock. KeyCorp’s target price points to a potential upside of 7.95% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on SHW. JPMorgan Chase & Co. increased their target price on shares of The Sherwin-Williams from $246.67 to $253.33 and gave the stock an “overweight” rating in a research report on Friday, January 29th. Jefferies Financial Group reiterated a “hold” rating and set a $800.00 target price on shares of The Sherwin-Williams in a research report on Sunday, April 4th. Wells Fargo & Company increased their target price on shares of The Sherwin-Williams from $292.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday. Robert W. Baird increased their price objective on shares of The Sherwin-Williams from $267.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 28th. Finally, TheStreet lowered shares of The Sherwin-Williams from a “b” rating to a “c+” rating in a report on Wednesday, March 31st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the stock. The Sherwin-Williams presently has an average rating of “Buy” and an average target price of $303.65.

Shares of SHW stock opened at $277.91 on Tuesday. The Sherwin-Williams has a 52-week low of $172.32 and a 52-week high of $279.46. The stock has a market cap of $74.70 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 2.65 and a beta of 1.01. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.80 and a current ratio of 1.19. The firm has a fifty day moving average of $265.47 and a 200-day moving average of $244.95.

The Sherwin-Williams (NYSE:SHW) last announced its earnings results on Monday, April 26th. The specialty chemicals company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.41. The business had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.51 billion. The Sherwin-Williams had a net margin of 10.41% and a return on equity of 56.69%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the company posted $4.08 EPS. On average, sell-side analysts predict that The Sherwin-Williams will post 24.3 earnings per share for the current year.

The Sherwin-Williams declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 17th that allows the company to repurchase 15,000,000 outstanding shares. This repurchase authorization allows the specialty chemicals company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

In related news, COO David B. Sewell sold 10,244 shares of the stock in a transaction that occurred on Friday, March 5th. The shares were sold at an average price of $663.17, for a total value of $6,793,513.48. Following the sale, the chief operating officer now directly owns 12,675 shares in the company, valued at approximately $8,405,679.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Allen J. Mistysyn sold 1,930 shares of the stock in a transaction that occurred on Monday, March 1st. The shares were sold at an average price of $700.00, for a total transaction of $1,351,000.00. Following the completion of the sale, the chief financial officer now owns 11,062 shares in the company, valued at $7,743,400. The disclosure for this sale can be found here. Insiders sold a total of 37,466 shares of company stock worth $25,811,540 in the last ninety days. Insiders own 0.55% of the company’s stock.

Several large investors have recently made changes to their positions in SHW. Sei Investments Co. raised its position in shares of The Sherwin-Williams by 5.8% in the 3rd quarter. Sei Investments Co. now owns 36,338 shares of the specialty chemicals company’s stock valued at $25,069,000 after acquiring an additional 2,001 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in The Sherwin-Williams by 9.3% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 2,704 shares of the specialty chemicals company’s stock worth $1,884,000 after buying an additional 231 shares during the period. Park National Corp OH raised its holdings in The Sherwin-Williams by 304.6% during the 4th quarter. Park National Corp OH now owns 4,855 shares of the specialty chemicals company’s stock worth $3,568,000 after buying an additional 3,655 shares during the period. Private Trust Co. NA raised its holdings in The Sherwin-Williams by 0.9% during the 4th quarter. Private Trust Co. NA now owns 6,979 shares of the specialty chemicals company’s stock worth $5,128,000 after buying an additional 59 shares during the period. Finally, First Financial Bank Trust Division raised its holdings in The Sherwin-Williams by 1.4% during the 4th quarter. First Financial Bank Trust Division now owns 5,090 shares of the specialty chemicals company’s stock worth $3,740,000 after buying an additional 72 shares during the period. Institutional investors and hedge funds own 76.54% of the company’s stock.

About The Sherwin-Williams

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 The Sherwin-Williams (NYSE:SHW)

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