Citigroup Reiterates Buy Rating for Sherwin-Williams (NYSE:SHW)

Sherwin-Williams (NYSE:SHW)‘s stock had its “buy” rating reiterated by research analysts at Citigroup in a report released on Wednesday, Marketbeat.com reports. They currently have a $423.00 price target on the specialty chemicals company’s stock, up from their previous price target of $418.00. Citigroup’s target price indicates a potential upside of 18.82% from the stock’s current price.

A number of other research firms also recently commented on SHW. Berenberg Bank upgraded Sherwin-Williams from a “hold” rating to a “buy” rating and boosted their target price for the stock from $321.00 to $420.00 in a research report on Friday, January 24th. Evercore ISI upped their price objective on Sherwin-Williams from $400.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Zelman & Associates raised shares of Sherwin-Williams to a “strong-buy” rating in a report on Friday, January 17th. Mizuho reduced their price target on shares of Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada lowered their price objective on shares of Sherwin-Williams from $438.00 to $415.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $403.31.

Sherwin-Williams Trading Down 1.0 %

Sherwin-Williams stock opened at $356.02 on Wednesday. Sherwin-Williams has a 1 year low of $282.09 and a 1 year high of $400.42. The firm’s 50 day moving average price is $350.92 and its 200-day moving average price is $365.51. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.79 and a quick ratio of 0.46. The stock has a market cap of $89.54 billion, a P/E ratio of 33.75, a PEG ratio of 2.98 and a beta of 1.22.

Sherwin-Williams (NYSE:SHW) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.02. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. During the same period in the prior year, the company posted $1.81 EPS. On average, equities analysts predict that Sherwin-Williams will post 12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Sherwin-Williams by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 21,836,648 shares of the specialty chemicals company’s stock worth $7,422,932,000 after acquiring an additional 138,170 shares during the last quarter. FMR LLC increased its stake in Sherwin-Williams by 1.6% in the fourth quarter. FMR LLC now owns 6,588,755 shares of the specialty chemicals company’s stock worth $2,239,715,000 after purchasing an additional 106,093 shares during the period. Geode Capital Management LLC lifted its position in shares of Sherwin-Williams by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,829,702 shares of the specialty chemicals company’s stock worth $1,636,679,000 after purchasing an additional 96,571 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Sherwin-Williams by 2.0% during the fourth quarter. Alliancebernstein L.P. now owns 4,316,000 shares of the specialty chemicals company’s stock valued at $1,467,138,000 after purchasing an additional 86,268 shares during the period. Finally, Norges Bank bought a new position in shares of Sherwin-Williams in the fourth quarter worth about $1,359,747,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.

About Sherwin-Williams

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.