Sherwin-Williams Stock: Expensive in the Face of a Recession Paint and coating manufacturer Sherwin-Williams (SHW) shares slipped about 38% from peak to trough before bouncing back sharply. Now down 30% from its high, it''s in a tough spot. While there''s no denying SHW''s brand power among painters and homeowners, the implications of a coming recession may yet be fully factored into the share price. For now, I am bearish on Sherwin-Williams stock, primarily due to valuation concerns. Nonetheless, architectural paint demand has remained robust. Despite the possibility of a drastic economic slowdown, the management team still expects 2022 sales to be in the high single-digit or low double-digit range.