Deutsche Bank Aktiengesellschaft Has Lowered Expectations for PPG Industries (NYSE:PPG) Stock Price

PPG Industries (NYSE:PPG) had its price objective cut by research analysts at Deutsche Bank Aktiengesellschaft from $150.00 to $145.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the specialty chemicals company’s stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 19.59% from the stock’s current price.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. cut their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Citigroup decreased their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday. StockNews.com raised shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 12th. Royal Bank of Canada lowered their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.29.

PPG Industries Stock Performance

Shares of PPG opened at $121.25 on Thursday. PPG Industries has a 12-month low of $118.07 and a 12-month high of $150.82. The stock has a market capitalization of $28.13 billion, a P/E ratio of 19.22, a P/E/G ratio of 1.90 and a beta of 1.24. The firm’s 50 day moving average is $125.30 and its 200-day moving average is $126.37. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. PPG Industries’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the company posted $2.07 EPS. Equities research analysts anticipate that PPG Industries will post 8.18 EPS for the current fiscal year.

Insider Activity

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the transaction, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This represents a 12.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.56% of the stock is owned by company insiders.

Institutional Trading of PPG Industries

A number of institutional investors and hedge funds have recently modified their holdings of PPG. Vest Financial LLC increased its holdings in PPG Industries by 28.9% in the 2nd quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock valued at $42,516,000 after buying an additional 75,620 shares during the period. Equity Investment Corp increased its stake in PPG Industries by 7.0% in the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock valued at $86,006,000 after acquiring an additional 42,380 shares during the period. Ritholtz Wealth Management acquired a new position in PPG Industries in the third quarter worth about $604,000. Charles Schwab Investment Management Inc. lifted its stake in PPG Industries by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after purchasing an additional 15,161 shares during the period. Finally, Intech Investment Management LLC boosted its holdings in PPG Industries by 139.7% during the third quarter. Intech Investment Management LLC now owns 128,663 shares of the specialty chemicals company’s stock valued at $17,043,000 after purchasing an additional 74,984 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

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.