On July 28, Sherwin-Williams rose 3.08% in regular trading, trading at $327.195/share with turnover of $443 million. The rally came as multiple investment banks concentrated their price target upgrades ahead of the company's Q2 earnings report scheduled for release the same day.

On the news front, RBC Capital raised its target to $405 maintaining an Outperform rating, BMO Capital raised to $400 maintaining Outperform, Bank of America Securities adjusted to $383, and Citigroup raised to $380 maintaining a Buy rating. Market consensus expects Q2 revenue to grow 4.82% year-over-year, with adjusted EPS estimated at $3.56.

For context, Sherwin-Williams reported Q1 adjusted EPS of $2.35, beating the consensus estimate of $2.26 by approximately 4%, with revenue of $5.67 billion growing 6.81% year-over-year. Management previously guided full-year adjusted EPS of $11.50-$11.90 and indicated spring/summer gross margin improvement, while cautioning that inflation and raw material pressures would have a material impact in Q2.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)