PPG Industries (NYSE:PPG) Stock Rating Reaffirmed by BMO Capital Markets

PPG Industries (NYSE:PPG)‘s stock had its “outperform” rating restated by investment analysts at BMO Capital Markets in a report released on Monday, Benzinga reports. They presently have a $155.00 target price on the specialty chemicals company’s stock, down from their prior target price of $160.00. BMO Capital Markets’ price objective would indicate a potential upside of 22.43% from the stock’s current price.

PPG has been the subject of a number of other research reports. Barclays dropped their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. UBS Group lifted their target price on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Mizuho decreased their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Citigroup cut their price objective on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Finally, KeyCorp decreased their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Trading Down 1.7 %

Shares of PPG stock opened at $126.60 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.58. The firm has a fifty day moving average of $127.56 and a 200-day moving average of $128.85. PPG Industries has a 52-week low of $118.07 and a 52-week high of $151.16. The stock has a market cap of $29.54 billion, a price-to-earnings ratio of 20.06, a P/E/G ratio of 1.93 and a beta of 1.26.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results 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). PPG Industries had a return on equity of 23.58% and a net margin of 8.24%. The business had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the business earned $2.07 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities research analysts forecast that PPG Industries will post 8.19 earnings per share for the current fiscal year.

Institutional Trading of PPG Industries

A number of institutional investors and hedge funds have recently modified their holdings of PPG. Financial Connections Group Inc. bought a new stake in shares of PPG Industries in the 2nd quarter valued at about $25,000. Riverview Trust Co bought a new stake in shares of PPG Industries in the 1st quarter valued at about $34,000. Rothschild Investment LLC bought a new stake in shares of PPG Industries in the 2nd quarter valued at about $37,000. LRI Investments LLC increased its stake in shares of PPG Industries by 463.8% in the 2nd quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock valued at $49,000 after acquiring an additional 320 shares during the last quarter. Finally, Slocum Gordon & Co LLP increased its stake in shares of PPG Industries by 51.7% in the 2nd quarter. Slocum Gordon & Co LLP now owns 455 shares of the specialty chemicals company’s stock valued at $57,000 after acquiring an additional 155 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

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.