PPG Industries (NYSE:PPG) Stock Rating Upgraded by StockNews.com

PPG Industries (NYSE:PPG) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Thursday.

A number of other research analysts have also recently commented on the stock. BMO Capital Markets reissued an “outperform” rating and set a $155.00 target price (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Royal Bank of Canada reduced their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. cut their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Finally, Mizuho cut their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

PPG Industries Trading Up 0.1 %

Shares of PPG stock opened at $124.20 on Thursday. The stock has a market cap of $28.81 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 1.88 and a beta of 1.24. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The firm’s 50 day moving average price is $125.65 and its two-hundred day moving average price is $126.55.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The business 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%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm earned $2.07 earnings per share. On average, analysts anticipate that PPG Industries will post 8.18 EPS for the current year.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On PPG Industries

A number of large investors have recently made changes to their positions in PPG. Insight Folios Inc increased its holdings in PPG Industries by 3.8% in the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock worth $294,000 after buying an additional 81 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in PPG Industries by 0.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock worth $2,549,000 after buying an additional 82 shares during the last quarter. Klingman & Associates LLC increased its holdings in PPG Industries by 2.6% in the second quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock worth $419,000 after buying an additional 83 shares during the last quarter. SeaCrest Wealth Management LLC increased its holdings in PPG Industries by 2.6% in the second quarter. SeaCrest Wealth Management LLC now owns 3,453 shares of the specialty chemicals company’s stock worth $435,000 after buying an additional 86 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT increased its holdings in PPG Industries by 1.7% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 5,310 shares of the specialty chemicals company’s stock worth $669,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Company Profile

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.