PPG Industries (NYSE:PPG) PT Raised to $124.00 at Wells Fargo & Company

PPG Industries (NYSE:PPGGet Rating) had its price target increased by research analysts at Wells Fargo & Company from $115.00 to $124.00 in a research note issued on Monday, The Fly reports. The brokerage presently has an “equal weight” rating on the specialty chemicals company’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 5.32% from the company’s previous close.

Other analysts also recently issued reports about the stock. Citigroup decreased their target price on shares of PPG Industries from $139.00 to $138.00 in a research report on Sunday. Barclays decreased their price objective on shares of PPG Industries from $150.00 to $130.00 in a report on Tuesday, October 11th. The Goldman Sachs Group began coverage on shares of PPG Industries in a report on Thursday, October 13th. They set a “buy” rating and a $145.00 price objective for the company. Morgan Stanley decreased their price objective on shares of PPG Industries from $150.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, October 24th. Finally, Robert W. Baird decreased their price objective on shares of PPG Industries from $180.00 to $125.00 in a report on Tuesday, October 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, PPG Industries has an average rating of “Hold” and a consensus price target of $135.55.

PPG Industries Stock Performance

PPG stock opened at $130.97 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.52 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $30.78 billion, a price-to-earnings ratio of 30.25, a P/E/G ratio of 2.69 and a beta of 1.18. PPG Industries has a 12 month low of $107.06 and a 12 month high of $159.16. The firm has a 50 day moving average of $129.61 and a two-hundred day moving average of $124.03.

PPG Industries (NYSE:PPGGet Rating) last posted its earnings results on Friday, January 20th. The specialty chemicals company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.14 by $0.08. The company 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 earnings per share. As a group, equities analysts anticipate that PPG Industries will post 6.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Guardian Wealth Advisors LLC bought a new position in PPG Industries in the 3rd quarter worth approximately $27,000. Janiczek Wealth Management LLC bought a new position in PPG Industries in the 2nd quarter worth approximately $29,000. Tradition Wealth Management LLC bought a new position in PPG Industries in the 2nd quarter worth approximately $33,000. New England Asset Management Inc. bought a new position in PPG Industries in the 2nd quarter worth approximately $33,000. Finally, Parkside Financial Bank & Trust raised its position in PPG Industries by 45.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 87 shares during the last quarter. Institutional investors own 80.04% of the company’s stock.

About PPG Industries

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PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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