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"We believe Sherwin fundamentals are tracking well based on demand recovery in US architectural coatings and prospects for ongoing margin restoration, aided by raw material cost relief," Bank of America Merrill Lynch analysts wrote in a report Wednesday. "With below-average exposure to Europe, Asia, and related FX risk, earnings growth is resilient, so SHW shares could continue to attract capital, especially if "risk-off" market dynamics persist."
Shares of Sherwin-Williams hit a 52-week high on Thursday of $130.75. The stock's 52-week low of $69.47 was set on Aug. 19.
Sherwin-Williams trades at an estimated price-to-earnings ratio of 24.63; the average of its peers is 14.5. For comparison,
Valspar(VAL) has a lower forward P/E of 15.98.
Ten of the 16 analysts who cover Sherwin-Williams rated it hold. Three analysts gave the stock a buy rating and another three rated it sell.
The stock has risen 46.63% year to date.