PPG Industries, Inc. (NYSE:PPG) Receives $158.40 Average Target Price from Analysts

PPG Industries, Inc. (NYSE:PPG) has been given an average rating of “Hold” by the fifteen analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $158.40.

PPG has been the topic of several recent analyst reports. Wells Fargo & Company raised PPG Industries from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $150.00 to $163.00 in a report on Thursday, April 11th. UBS Group reiterated a “neutral” rating and set a $156.00 price target (down previously from $173.00) on shares of PPG Industries in a research report on Thursday, March 7th. Redburn Atlantic lowered shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a report on Thursday, February 1st. Vertical Research raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. Finally, Citigroup decreased their price target on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th.

PPG Industries Stock Up 1.1 %

Shares of NYSE:PPG opened at $134.96 on Monday. The company’s fifty day moving average is $140.60 and its 200-day moving average is $138.90. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 1.47. PPG Industries has a 52 week low of $120.32 and a 52 week high of $152.89. The company has a market capitalization of $31.76 billion, a PE ratio of 25.27, a P/E/G ratio of 1.61 and a beta of 1.28.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.04. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.27 billion. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 earnings per share. Equities research analysts predict that PPG Industries will post 8.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vincent J. Morales sold 3,400 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the completion of the sale, the chief financial officer now owns 28,439 shares in the company, valued at $4,008,192.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Wedmont Private Capital boosted its position in shares of PPG Industries by 2.9% during the fourth quarter. Wedmont Private Capital now owns 2,464 shares of the specialty chemicals company’s stock worth $363,000 after purchasing an additional 70 shares in the last quarter. Barrett & Company Inc. lifted its holdings in PPG Industries by 10.6% during the fourth quarter. Barrett & Company Inc. now owns 763 shares of the specialty chemicals company’s stock worth $114,000 after acquiring an additional 73 shares in the last quarter. West Michigan Advisors LLC grew its stake in PPG Industries by 3.4% in the fourth quarter. West Michigan Advisors LLC now owns 2,262 shares of the specialty chemicals company’s stock valued at $338,000 after acquiring an additional 74 shares during the period. Colony Group LLC grew its stake in PPG Industries by 3.0% in the second quarter. Colony Group LLC now owns 2,540 shares of the specialty chemicals company’s stock valued at $377,000 after acquiring an additional 74 shares during the period. Finally, FinTrust Capital Advisors LLC increased its holdings in shares of PPG Industries by 38.6% in the fourth quarter. FinTrust Capital Advisors LLC now owns 273 shares of the specialty chemicals company’s stock worth $41,000 after acquiring an additional 76 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The 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; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.