Deutsche Bank Raises PPG Industries (PPG) Price Target to $120.00

PPG Industries (NYSE:PPG) had its price objective hoisted by Deutsche Bank from $114.00 to $120.00 in a note issued to investors on Thursday. The firm currently has a “buy” rating on the specialty chemicals company’s stock. Deutsche Bank’s target price points to a potential upside of 13.46% from the company’s current price.

Other equities analysts have also issued reports about the company. KeyCorp reduced their price objective on PPG Industries from $130.00 to $128.00 and set a “$104.41” rating on the stock in a research report on Monday, July 23rd. Goldman Sachs Group upgraded PPG Industries from a “neutral” rating to a “buy” rating and set a $126.00 price objective on the stock in a research report on Wednesday, July 25th. Northcoast Research set a $114.00 price objective on PPG Industries and gave the company a “buy” rating in a research report on Tuesday, October 9th. SunTrust Banks reiterated a “hold” rating and set a $110.00 price objective on shares of PPG Industries in a research report on Friday, July 20th. Finally, ValuEngine upgraded PPG Industries from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $117.81.

NYSE PPG traded up $0.67 during trading on Thursday, reaching $105.76. The company’s stock had a trading volume of 8,818 shares, compared to its average volume of 3,256,800. The firm has a market capitalization of $25.00 billion, a P/E ratio of 18.02, a P/E/G ratio of 2.16 and a beta of 1.50. The company has a quick ratio of 1.22, a current ratio of 1.71 and a debt-to-equity ratio of 0.99. PPG Industries has a one year low of $94.37 and a one year high of $122.07.



PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, October 18th. The specialty chemicals company reported $1.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.45. The business had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.81 billion. PPG Industries had a return on equity of 27.83% and a net margin of 8.34%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.52 EPS. As a group, research analysts anticipate that PPG Industries will post 5.81 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of PPG. Brown Advisory Inc. boosted its holdings in PPG Industries by 3.2% during the 1st quarter. Brown Advisory Inc. now owns 35,097 shares of the specialty chemicals company’s stock valued at $3,916,000 after acquiring an additional 1,074 shares during the period. CenturyLink Investment Management Co purchased a new stake in PPG Industries during the 2nd quarter valued at about $1,547,000. DnB Asset Management AS boosted its holdings in PPG Industries by 4.2% during the 2nd quarter. DnB Asset Management AS now owns 32,216 shares of the specialty chemicals company’s stock valued at $3,342,000 after acquiring an additional 1,300 shares during the period. IFM Investors Pty Ltd boosted its holdings in PPG Industries by 43.4% during the 2nd quarter. IFM Investors Pty Ltd now owns 11,418 shares of the specialty chemicals company’s stock valued at $1,184,000 after acquiring an additional 3,456 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in PPG Industries by 5.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 41,996 shares of the specialty chemicals company’s stock valued at $4,353,000 after acquiring an additional 2,340 shares during the period. Institutional investors own 78.13% of the company’s stock.

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.

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Analyst Recommendations for PPG Industries (NYSE:PPG)

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