PPG Industries (NYSE:PPG – Get Rating)'s stock had its "buy" rating reaffirmed by stock analysts at Mizuho in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $142.00 price target on the specialty chemicals company's stock. Mizuho's price objective would suggest a potential upside of 9.70% from the company's current price.
A number of other brokerages also recently issued reports on PPG. KeyCorp raised their price objective on PPG Industries from $144.00 to $159.00 and gave the stock an "overweight" rating in a research report on Monday, January 23rd. Robert W. Baird dropped their price target on shares of PPG Industries from $180.00 to $125.00 in a research report on Tuesday, October 11th. The Goldman Sachs Group began coverage on shares of PPG Industries in a research report on Thursday, October 13th. They set a "buy" rating and a $145.00 price objective for the company. Northcoast Research began coverage on shares of PPG Industries in a report on Thursday, October 13th. They issued a "neutral" rating on the stock. Finally, Vertical Research lowered PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, January 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, PPG Industries has an average rating of "Hold" and a consensus target price of $135.55.
Get PPG Industries alerts:PPG Industries Stock Performance
PPG Industries stock opened at $129.44 on Tuesday. PPG Industries has a 1 year low of $107.06 and a 1 year high of $157.55. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.52 and a quick ratio of 1.04. The company has a market capitalization of $30.42 billion, a P/E ratio of 29.89, a P/E/G ratio of 2.85 and a beta of 1.18. The business has a 50 day moving average of $129.48 and a 200-day moving average of $124.78.
PPG Industries (NYSE:PPG – Get Rating) last released its quarterly earnings results on Friday, January 20th. The specialty chemicals company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.08. The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.12 billion. PPG Industries had a net margin of 5.81% and a return on equity of 22.95%. The company's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 earnings per share. On average, equities research analysts predict that PPG Industries will post 6.49 earnings per share for the current year.Insider Activity at PPG Industries
In other PPG Industries news, VP Anne M. Foulkes sold 21,757 shares of the business's stock in a transaction that occurred on Tuesday, January 24th. The stock was sold at an average price of $128.33, for a total transaction of $2,792,075.81. Following the completion of the sale, the vice president now directly owns 10,577 shares of the company's stock, valued at approximately $1,357,346.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other PPG Industries news, VP Anne M. Foulkes sold 21,757 shares of PPG Industries stock in a transaction on Tuesday, January 24th. The shares were sold at an average price of $128.33, for a total transaction of $2,792,075.81. Following the transaction, the vice president now directly owns 10,577 shares of the company's stock, valued at approximately $1,357,346.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Michael H. Mcgarry sold 61,867 shares of the stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $129.96, for a total transaction of $8,040,235.32. Following the completion of the sale, the chairman now owns 183,645 shares of the company's stock, valued at approximately $23,866,504.20. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.
Institutional Trading of PPG Industries
Institutional investors and hedge funds have recently modified their holdings of the business. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of PPG Industries by 12.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,967 shares of the specialty chemicals company's stock worth $1,989,000 after purchasing an additional 2,015 shares during the period. TownSquare Capital LLC boosted its stake in PPG Industries by 14.5% in the second quarter. TownSquare Capital LLC now owns 7,575 shares of the specialty chemicals company's stock valued at $866,000 after acquiring an additional 961 shares during the last quarter. StoneX Group Inc. bought a new position in shares of PPG Industries during the 2nd quarter valued at approximately $376,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of PPG Industries by 102.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,995 shares of the specialty chemicals company's stock worth $1,372,000 after purchasing an additional 6,064 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in PPG Industries by 14.3% in the second quarter. Bank of Montreal Can now owns 250,556 shares of the specialty chemicals company's stock valued at $30,807,000 after purchasing an additional 31,301 shares during the last quarter. 80.04% of the stock is owned by hedge funds and other institutional investors.
PPG Industries Company Profile
(Get Rating)
PPG Industries, Inc engages in the manufacture and distribution of paints, coatings, and specialty materials. It operates through the Performance Coatings and Industrial Coatings segments. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, and architectural coatings businesses.
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