#6 - Sherwin-Williams (NYSE:SHW)
The bullish case for The Sherwin-Williams Company (NYSE: SHW) is two-fold. If the housing market remains sluggish, painting is still one of the more cost-effective renovations that homeowners can make.
However, if the housing market begins to take off, one of the first things that new homeowners will do is paint – especially in new constructions. And fall is one of the best times of year for interior painting projects.
In the second quarter, Sherwin-Williams reported mixed results, beating on earnings but coming in slightly light on revenue. However, both numbers were a YOY beat, which may explain why the stock is up 10.8% in 2024.
Analysts maintain a Moderate Buy rating on the stock. The consensus price target implies just a 3% gain. However, analysts from Morgan Stanley and Royal Bank of Canada have significantly higher price targets for SHW stock, $375 and $408, respectively. It’s important to add that Sherwin-Williams is a dividend aristocrat with a 47-year streak of increasing its dividend.
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.
Read More - Current Price
- $379.77
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 15 Buy Ratings, 6 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $362.68 (4.5% Downside)
