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Citigroup reduces its price target for Sherwin-Williams (NYSE:SHW) to $215.00.

Originally published on Best Stocks

Category: best stocks to buy now

According to a report by The Fly, a study released on Tuesday by Citigroup research analysts decreased the price objective for Sherwin-Williams (NYSE: SHW) from $248,000 to $215,000. This was done for the company. There is a possibility that Citigroup’s price target will lead to an increase in the price of the stock, which is equivalent to 0.29 percent.

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Various equity analysts have provided additional commentary regarding the stock in recent times. Both their “buy” rating and price target on Sherwin-Williams stock, which they had previously set at $310.00, were reduced by Mizuho in a research report published on Thursday, July 14th. In other news, Sherwin-Williams stock had its price objective reduced by Deutsche Bank Aktiengesellschaft in a research note published on Thursday, July 28. The new price objective is $275.00, down from $315.00. In addition, Sherwin-Williams was assigned a rating of “neutral” by Bank of America in a research report released on the 13th of July. Previously, the company had been given a “buy” rating. During the same period, Bank of America reduced its target price for the stock, dropping it from $313.00 to $292.00.
Furthermore, Evercore ISI stated in a research note published on June 9 that their target price for Sherwin-Williams stock has been reduced to $305.00. This news was shared with the investing community. Finally, Wells Fargo & Company lowered their target price on Sherwin-Williams stock from $285.00 to $270.00 and assigned the stock an “equal weight” rating in a research report published on Monday, July 18th. This comes as a result of the company’s lowering its price target on the company earlier this month. One of the equity research analysts has given the stock a rating of buy; nine have suggested that investors keep their current position; eight have given the stock a rating of buy, and the remaining expert has given the stock a sell rating. Sherwin-Williams is currently rated “Hold” by the vast majority of stock market analysts, and their average price target for the company’s common stock is $305.37. This data was collected from the website Bloomberg.com.
When trading started on Tuesday, an individual share of SHW stock was $214.38. Throughout the previous year, the price of Sherwin-Williams products fluctuated between $204.57 and $354.15. The debt-to-equity ratio is 3.86, the current ratio is 0.87, and the quick ratio is 0.53. All three ratios are presented in their most recent forms. The company’s market capitalization is $55.56 billion, the price-to-earnings ratio is 32.24, the price-to-earnings-to-growth ratio is 1.98, and the beta value is 1.07. The price of the company’s stock is currently trading at a moving average of $233.41 for the past fifty days and a moving average of $246.55 for the past hundred days.

On July 27, Sherwin-Williams (NYSE: SHW) issued a press release detailing the findings of its most recent quarterly financial report. The specialty chemicals manufacturer reported earnings per share of $2.41 for the quarter, $0.40 lower than the analyst consensus of $2.81. Nevertheless, Sherwin-Williams had a successful performance, evidenced by its respectable net margin of 8.45% and equity return of 82.04%, respectively. The revenue for the quarter came in at $2.87 billion, a significant drop from the $6.01 billion that analysts had predicted it would be for the period. The corporation reported a profit of $2.65 per share for the same period in the previous year’s financial statements. The company’s quarterly sales decreased by 46.6% compared to the results achieved in the same quarter of the previous year. Analysts predict that Sherwin-Williams will make $8.64 per share in profits during the current fiscal year.

Recent events have resulted in several changes being implemented by hedge funds regarding the interests they previously held in the company. During the second quarter, GoalVest Advisory LLC saw a rise of 76.0 percentage points in the amount of Sherwin-Williams stock it owned. GoalVest Advisory LLC increased its holdings in the specialty chemicals company by purchasing an additional 57 shares of the company’s stock during the most recent quarter. This brought the total number of shares the company had acquired to 132, with a value of $32,000. During the second quarter of the current fiscal year, TCI Wealth Advisors Inc. increased its holdings of Sherwin-Williams by a value that was 257.5% higher than before. TCI Wealth Advisors Inc. has taken direct ownership of 143 shares of the specialty chemicals company’s stock, worth $32,000 as of this writing. This is a direct result of the company’s purchase of 103 additional shares during the most recent quarter of the most recent fiscal year. The acquisition of new investment in Sherwin-Williams by Investors Research Corporation cost approximately 32 thousand dollars and took place during the second quarter of the fiscal year. Rational Advisors LLC increased the number of Sherwin-Williams shares held in its investment portfolio by 70.1% during the first three months of the current year. After purchasing 54 additional shares during the most recent quarter, Rational Advisors LLC now directly owns 131 shares of the specialty chemicals company’s stock. These 131 shares have a value of $33,000, making the total value of Rational Advisors LLC’s stock holdings $36,000.
Last but not least, during the second quarter, the value of the shares of Sherwin-Williams that Institutional & Family Asset Management LLC owned increased by 216.7%. This was the company’s best performance during the quarter. Institutional & Family Asset Management LLC now has 152 shares of the specialty chemicals company’s stock, collectively worth $34,000. This results from the company’s purchase of an additional 104 shares during the preceding quarter. 152 is now the total number of shares the company has in its possession due to this. 77.48% of the company’s shares are owned by institutional investors and hedge funds, making up most of these shareholders.

Sherwin-Williams is the company responsible for developing paints, coatings, and other associated materials, in addition to manufacturing, distribution, and retail sale of these products to consumers, businesses, and professionals. The Americas Group, the Consumer Brands Group, and the Performance Coatings Group are the names given to the company’s three distinct operational divisions. Homeowners who do their home improvement projects and architectural and industrial paint contractors can buy architectural paints and coatings, protection and marine goods, original equipment manufacturer (OEM) product finish, and other related materials from the Americas Group business.

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