On September 30, 2023, Sherwin-Williams (NYSE: SHW) had its target price increased by Berenberg Bank analysts from $224.00 to $249.00, according to a note issued to investors on Friday. This new target price indicates a potential downside of 2.84% from the stock’s previous close.
Shares of Sherwin-Williams (NYSE: SHW) opened at $256.27 on Friday. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.62, and a current ratio of 1.00. Over the past year, Sherwin-Williams has seen a low of $195.24 and a high of $283.80 in terms of share prices. Currently, the stock’s 50-day simple moving average stands at $269.27 while its 200-day simple moving average is $247.81.
Sherwin-Williams operates within three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The company specializes in manufacturing, distributing, and selling paints, coatings, and related products to professional, industrial, commercial, and retail customers. Within its Americas Group segment, Sherwin-Williams offers architectural paints and coatings along with protective and marine products for various customer needs.
In July 2023, Sherwin-Williams released its quarterly earnings report which exceeded expectations. The specialty chemicals company reported an earnings per share (EPS) of $3.29 for the quarter—beating the consensus estimate by $0.58 per share ($2.71). Additionally, the company generated revenue amounting to $6.24 billion during the same period—surpassing the consensus estimate of $6.03 billion.
Sherwin-Williams demonstrated impressive performance as it achieved a return on equity of 83.63% and a net margin of 10..20%. Furthermore, the company experienced a 6.3% increase in revenue compared to the same quarter of the previous year.
Moving forward, equities analysts expect Sherwin-Williams to post an earnings per share of 9.78 for the current fiscal year.
As of September 30, 2023, Sherwin-Williams possesses a market capitalization of $65.90 billion and features a price-to-earnings ratio of 28.44. The stock also displays a PEG ratio (price-to-earnings-growth) of 2.10 and carries a beta value of 1.10.
Overall, Sherwin-Williams continues its strong presence in the paints, coatings, and related products industry by delivering solid financial performance and exceeding market expectations. With its diverse product offerings targeting various customer segments, the company remains well-positioned for future growth and success in its industry.
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Analyst Reports and Investor Insights on Sherwin-Williams: Evaluating Stock Performance and Potential for Growth
On September 30, 2023, several research analysts released reports on Sherwin-Williams’ stock, providing insights into its performance and prospects. Bank of America revised their price objective for the stock from $270.00 to $300.00, maintaining a “neutral” rating. In a similar vein, Evercore ISI lifted their price target to $305.00 and assigned an “outperform” rating. BMO Capital Markets also increased their target price from $275.00 to $300.00 with an “outperform” rating.
However, Wells Fargo & Company took a contrarian stance by lowering their price target on Sherwin-Williams’ shares from $300.00 to $290.00 and assigning an “equal weight” rating for the company’s stock on August 25th. Barclays, in one of their reports on July 25th, raised their target price from $240.00 to $285.00 and offered an “equal weight” rating as well.
Out of twenty research analysts in total, five have given Sherwin-Williams’ stock a hold rating while fifteen have issued a buy rating based on Bloomberg data analysis. The average consensus is a “Moderate Buy,” with the average price target set at $281.79.
Moving on to the large investors’ perspectives, a number of significant changes have been made to their positions in Sherwin-Williams recently. For instance, HHM Wealth Advisors LLC increased its holdings by an astounding 1,716.7% in the first quarter—now owning 109 shares valued at $25,000 after acquiring an additional 103 shares.
Similarly, TCI Wealth Advisors Inc., during the same period, elevated its position by 296.9%, now holding 127 shares worth $29,000 after purchasing an additional 95 shares.
Providence Capital Advisors LLC caught attention as it boosted its holdings by approximately 44,853.3% in the first quarter, now possessing 6,743 shares valued at $30,000 after buying an additional 6,728 shares.
Another investor demonstrating interest in Sherwin-Williams was Householder Group Estate & Retirement Specialist LLC, which acquired a new stake during the first quarter worth approximately $36,000. Lastly, First Capital Advisors Group LLC also entered the scene by purchasing Sherwin-Williams’ shares in the second quarter, with a value of around $37,000.
Overall, institutional investors and hedge funds significantly contribute to Sherwin-Williams’ stock ownership—holding approximately 75.87% of the company’s shares. The involvement of these large investors showcases their confidence in the company’s performance and potential for growth.
It is essential to analyze various research reports and investor insights to gain a comprehensive understanding of a company’s stock performance and investors’ sentiments. By evaluating different perspectives and projections, investors can make informed decisions regarding their investment strategies.
