Sherwin-Williams (NYSE:SHW) Rating Increased to Overweight at KeyCorp

Sherwin-Williams (NYSE:SHW) was upgraded by KeyCorp from a “sector weight” rating to an “overweight” rating in a note issued to investors on Thursday, Marketbeat.com reports. The brokerage currently has a $400.00 target price on the specialty chemicals company’s stock. KeyCorp’s price objective points to a potential upside of 30.53% from the stock’s current price.

SHW has been the topic of a number of other reports. Wolfe Research started coverage on Sherwin-Williams in a research report on Friday, March 1st. They set a “peer perform” rating on the stock. Loop Capital lowered their price target on Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of Sherwin-Williams from $317.00 to $315.00 and set an “overweight” rating on the stock in a research report on Wednesday. UBS Group raised shares of Sherwin-Williams from a “neutral” rating to a “buy” rating and increased their target price for the company from $312.00 to $402.00 in a research note on Thursday, March 7th. Finally, Wells Fargo & Company lifted their price target on shares of Sherwin-Williams from $310.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $337.37.

Sherwin-Williams Stock Performance

SHW opened at $306.45 on Thursday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.48 and a current ratio of 0.78. The stock has a market capitalization of $77.98 billion, a price-to-earnings ratio of 32.67, a PEG ratio of 2.41 and a beta of 1.15. The company has a fifty day moving average of $328.05 and a 200 day moving average of $299.19. Sherwin-Williams has a fifty-two week low of $221.76 and a fifty-two week high of $348.37.

Sherwin-Williams (NYSE:SHW) last posted its earnings results on Tuesday, April 23rd. The specialty chemicals company reported $2.17 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.05). The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Sherwin-Williams had a return on equity of 73.74% and a net margin of 10.52%. Sherwin-Williams’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.04 earnings per share. As a group, sell-side analysts forecast that Sherwin-Williams will post 11.44 earnings per share for the current fiscal year.

Insider Transactions at Sherwin-Williams

In related news, insider Todd D. Rea sold 2,449 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $313.54, for a total transaction of $767,859.46. Following the transaction, the insider now directly owns 9,329 shares of the company’s stock, valued at approximately $2,925,014.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Sherwin-Williams news, insider Todd D. Rea sold 2,449 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $313.54, for a total transaction of $767,859.46. Following the sale, the insider now owns 9,329 shares of the company’s stock, valued at approximately $2,925,014.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Mary L. Garceau sold 23,518 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $322.66, for a total transaction of $7,588,317.88. Following the completion of the transaction, the senior vice president now directly owns 28,475 shares of the company’s stock, valued at approximately $9,187,743.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,050 shares of company stock valued at $10,340,237. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Sherwin-Williams

Several hedge funds and other institutional investors have recently bought and sold shares of SHW. Renaissance Group LLC acquired a new stake in Sherwin-Williams during the 1st quarter worth about $34,316,000. YHB Investment Advisors Inc. boosted its stake in shares of Sherwin-Williams by 9.0% in the first quarter. YHB Investment Advisors Inc. now owns 1,414 shares of the specialty chemicals company’s stock worth $491,000 after buying an additional 117 shares during the last quarter. SlateStone Wealth LLC acquired a new stake in Sherwin-Williams during the first quarter worth about $1,103,000. First National Trust Co raised its position in Sherwin-Williams by 6.2% during the first quarter. First National Trust Co now owns 721 shares of the specialty chemicals company’s stock valued at $250,000 after acquiring an additional 42 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. acquired a new position in Sherwin-Williams in the first quarter valued at approximately $721,000. Institutional investors and hedge funds own 77.67% of the company’s stock.

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.