Market Update: Looking at the Levels for The Sherwin-Williams Company (NYSE:SHW)

Stock market investors may be closely tracking recent trends. Many investors will keep an eye on where a certain stock has been when trying to project where it is headed. Tracking recent action for The Sherwin-Williams Company (NYSE:SHW), we have seen shares trading close to the 416.97 mark. Taking a wider look back, shares have seen a change of 8.05% over the last 12 weeks. Heading back to the start of the year, we can see that shares have changed 5.98%. Over the past month, shares have seen a change of -0.27%. Over the last week, the stock has moved -3.75%. Taking a look at some popular possible support and resistance levels, we note that the 52-week high is currently 477.98, and the 52-week low is presently 365.24. When a stock price is trading close to the 52-week high or 52-week low, investors may closely track activity to watch for a move through the level.

Technical investors generally rely heavily on price charts to help spot potential trades. Chartists will often try to interpret past movements with the goal of trying to gauge the future share price movements. Some charts can be extremely complex while others may be quite simple. Many traders will spend countless hours studying the signals to try to spot optimal entry and exit points. There are many different indicators that technical analysts can follow. Some traders will use standalone signals, and others will use a robust combination. Getting into the nitty-gritty of charting can be overwhelming for the beginner. Taking the time to completely understand what the charts are saying can be the difference between a big win and a major loss.

Shifting the focus to some earnings data, we have noted that the current quarter EPS consensus estimate for The Sherwin-Williams Company (NYSE:SHW) is 3.68. This EPS estimate consists of 8 Wall Street analysts taken into consideration by Zacks Research. For the previous reporting period, the company posted a quarterly EPS of 3.54. Sell-side analysts often provide their best researched estimates at what the company will report. These estimates hold a lot of weight on Wall Street and the investing community. Sometimes these analyst projections are spot on, and other times they are off. When a company reports actual earnings results, the surprise factor can cause a stock price to fluctuate. Investors will often pay added attention to a company that has beaten estimates by a large margin.

Looking at some analyst views on shares of The Sherwin-Williams Company (NYSE:SHW), we note that the consensus target price is resting at $450.6. This is the consensus target using estimates provided by the covering analysts polled. Sell-side analysts often produce target estimates for the companies that they track closely. Price target estimates can be calculated using various methods, and this may cause some analyst estimates to be drastically different than others. Many investors will track stock target prices, especially when analysts update the target price projections.

Investors might be paying attention to what Wall Street analysts think about shares of The Sherwin-Williams Company (NYSE:SHW). Taking a peek at the current consensus broker rating, we can see that the ABR is 1.72. This average rating is provided by Zacks Research. This simplified numeric scale spans the range of one to five which translates brokerage firm Buy/Sell/Hold recommendations into an average broker rating. A low number in the 1-2 range typically indicates a Buy, 3 indicates a Hold and 4-5 represents a consensus Sell rating. In terms of the number of analysts that have the stock rated as a Buy or Strong Buy, we can see that the number is currently 12.

As any seasoned investor knows, trading stocks can be both exiting and scary. Figuring out how to profit in the market may take a lot of time and dedication. Many novice investors may jump into the markets without any kind of research. Some people may prefer to let professionals deal with their investments. With so much available information, investors may need to find out how to separate the important data from the unimportant data. As we move further into the second half of the year, investors are most likely monitoring market momentum to try and figure out how stocks will finish the year. With the stock market still trading at high levels, investors may be looking for certain stocks that still have room to move higher. Finding these stocks may be tricky, but doing the necessary research may help spot some names that will make a positive impact on the future of the portfolio. 

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