KeyCorp Increases Sherwin-Williams (NYSE:SHW) Price Target to $410.00

Sherwin-Williams (NYSE:SHW) had its target price upped by analysts at KeyCorp from $400.00 to $410.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the specialty chemicals company’s stock. KeyCorp’s price target would indicate a potential upside of 19.55% from the stock’s current price.

Several other equities analysts have also recently issued reports on SHW. Loop Capital decreased their price objective on Sherwin-Williams from $395.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. JPMorgan Chase & Co. decreased their price objective on Sherwin-Williams from $317.00 to $315.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Robert W. Baird lifted their price objective on Sherwin-Williams from $300.00 to $310.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Royal Bank of Canada decreased their price objective on Sherwin-Williams from $380.00 to $370.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Finally, Evercore ISI lifted their price objective on Sherwin-Williams from $360.00 to $365.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $355.00.

Sherwin-Williams Stock Performance

Shares of Sherwin-Williams stock opened at $342.95 on Wednesday. The business has a 50-day moving average of $306.52 and a 200 day moving average of $314.39. Sherwin-Williams has a 12 month low of $232.06 and a 12 month high of $348.37. The stock has a market capitalization of $86.51 billion, a price-to-earnings ratio of 36.56, a price-to-earnings-growth ratio of 2.79 and a beta of 1.16. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.46.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Tuesday, July 23rd. The specialty chemicals company reported $3.70 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.19. Sherwin-Williams had a return on equity of 75.58% and a net margin of 10.92%. The company had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same period last year, the business posted $3.29 EPS. Sherwin-Williams’s revenue for the quarter was up .5% on a year-over-year basis. As a group, sell-side analysts forecast that Sherwin-Williams will post 11.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Sherwin-Williams by 0.9% in the first quarter. Vanguard Group Inc. now owns 21,620,939 shares of the specialty chemicals company’s stock valued at $7,509,601,000 after purchasing an additional 184,979 shares during the period. Capital World Investors increased its holdings in shares of Sherwin-Williams by 38.9% in the fourth quarter. Capital World Investors now owns 3,840,789 shares of the specialty chemicals company’s stock valued at $1,197,952,000 after purchasing an additional 1,075,351 shares during the period. Norges Bank acquired a new position in shares of Sherwin-Williams in the fourth quarter valued at approximately $1,176,356,000. Clearbridge Investments LLC increased its holdings in shares of Sherwin-Williams by 4.4% in the fourth quarter. Clearbridge Investments LLC now owns 2,779,294 shares of the specialty chemicals company’s stock valued at $866,862,000 after purchasing an additional 116,647 shares during the period. Finally, Capital Research Global Investors increased its holdings in shares of Sherwin-Williams by 2.3% in the fourth quarter. Capital Research Global Investors now owns 2,536,096 shares of the specialty chemicals company’s stock valued at $791,008,000 after purchasing an additional 56,161 shares during the period. 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.