PPG Industries (PPG) Price Target Cut to $116.00

PPG Industries (NYSE:PPG) had its price target lowered by investment analysts at BMO Capital Markets to $116.00 in a research report issued to clients and investors on Thursday. The brokerage currently has a “market perform” rating on the specialty chemicals company’s stock. BMO Capital Markets’ target price points to a potential upside of 10.53% from the stock’s previous close.

Several other equities research analysts also recently issued reports on PPG. Jefferies Group downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Wednesday. Royal Bank of Canada reiterated a “hold” rating on shares of PPG Industries in a research note on Tuesday, April 24th. Seaport Global Securities downgraded shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research note on Tuesday, April 17th. Robert W. Baird reiterated a “buy” rating and set a $125.00 price objective on shares of PPG Industries in a research note on Friday, April 20th. Finally, ValuEngine downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $124.06.

PPG Industries opened at $104.95 on Thursday, Marketbeat reports. PPG Industries has a 1 year low of $100.36 and a 1 year high of $122.07. The company has a market capitalization of $25.86 billion, a P/E ratio of 17.88, a P/E/G ratio of 1.81 and a beta of 1.56. The company has a quick ratio of 1.22, a current ratio of 1.66 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, April 19th. The specialty chemicals company reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.10). PPG Industries had a net margin of 10.94% and a return on equity of 26.15%. The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the firm posted $1.35 earnings per share. PPG Industries’s revenue for the quarter was up 8.6% compared to the same quarter last year. research analysts predict that PPG Industries will post 6.37 earnings per share for the current year.

In other news, VP Jean-Marie Greindl sold 9,500 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $115.79, for a total transaction of $1,100,005.00. Following the transaction, the vice president now directly owns 27,685 shares of the company’s stock, valued at $3,205,646.15. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.33% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mutual of America Capital Management LLC lifted its position in shares of PPG Industries by 1.5% during the fourth quarter. Mutual of America Capital Management LLC now owns 32,370 shares of the specialty chemicals company’s stock worth $3,781,000 after purchasing an additional 470 shares in the last quarter. Stephens Inc. AR lifted its position in shares of PPG Industries by 1.4% during the fourth quarter. Stephens Inc. AR now owns 34,724 shares of the specialty chemicals company’s stock worth $4,056,000 after purchasing an additional 495 shares in the last quarter. Penserra Capital Management LLC lifted its position in shares of PPG Industries by 18.6% during the fourth quarter. Penserra Capital Management LLC now owns 3,150 shares of the specialty chemicals company’s stock worth $367,000 after purchasing an additional 495 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of PPG Industries by 57.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,372 shares of the specialty chemicals company’s stock worth $153,000 after purchasing an additional 500 shares in the last quarter. Finally, Boulegeris Investments Inc. lifted its position in shares of PPG Industries by 4.8% during the first quarter. Boulegeris Investments Inc. now owns 11,573 shares of the specialty chemicals company’s stock worth $1,292,000 after purchasing an additional 525 shares in the last quarter. 76.92% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

Analyst Recommendations for PPG Industries (NYSE:PPG)

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