Evercore ISI Reaffirms Their Buy Rating on Sherwin-Williams Company (SHW)

Evercore ISI analyst Greg Melich maintained a Buy rating on Sherwin-Williams Company (SHWResearch Report) yesterday and set a price target of $260.00. The company’s shares closed last Thursday at $243.04.

According to TipRanks.com, Melich is a 2-star analyst with an average return of 0.0% and a 45.7% success rate. Melich covers the Consumer Goods sector, focusing on stocks such as Floor & Decor Holdings, Advance Auto Parts, and Best Buy Co.

Sherwin-Williams Company has an analyst consensus of Moderate Buy, with a price target consensus of $280.27, which is a 21.4% upside from current levels. In a report issued on July 14, Mizuho Securities also maintained a Buy rating on the stock with a $294.00 price target.

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Based on Sherwin-Williams Company’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $5.87 billion and net profit of $578 million. In comparison, last year the company earned revenue of $5.38 billion and had a net profit of $649 million.

Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SHW in relation to earlier this year.

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Founded in 1866, Ohio-based The Sherwin-Williams Co. manufactures and sells paints, coatings and related products to professional, industrial, commercial, and retail customers. It operates through three segments including, The Americas Group, Consumer Brands Group, and Performance Coatings Group.

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