Upgrade Alert for Sherwin-Williams (SHW)
Sherwin-Williams (NYSE:SHW) was upgraded from Hold to Buy at Argus Research today. The stock closed yesterday at $270.74 on volume of 716,000 shares, below average daily volume of 792,000.
Sherwin-Williams share prices have moved between a 52-week high of $312.48 and a 52-week low of $218.27 and closed yesterday at 24% above that low price at $270.74 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.9%.
The Sherwin-Williams Company manufactures, distributes, and sells paints, coatings, and related products. The Company's products are sold to professional, industrial, commercial, and retail customers primarily in North and South America. Sherwin Williams also has additional operations in the Caribbean region, Europe and Asia.
Sherwin-Williams has overhead space with shares priced $270.74, or 8.0% below the average consensus analyst price target of $294.43. The stock should hit resistance at its 50-day moving average (MA) of $286.76, as well as support at its 200-day MA of $264.72.
SmarTrend recommended that its subscribers protect gains by selling shares of Sherwin-Williams on August 19th, 2016 by issuing a Downtrend alert when the shares were trading at $286.71. Since that call, shares of Sherwin-Williams have fallen 6.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades sherwin-williams