PPG Industries, Inc. (NYSE:PPG) has been assigned a $113.00 price target by stock analysts at Credit Suisse Group in a note issued to investors on Sunday, July 23rd. The brokerage currently has a “buy” rating on the specialty chemicals company’s stock. Credit Suisse Group’s target price would indicate a potential upside of 10.70% from the stock’s current price.
Other analysts have also issued reports about the company. BidaskClub raised PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Argus raised PPG Industries from a “hold” rating to a “buy” rating and lifted their target price for the stock from $110.61 to $136.00 in a research report on Wednesday, July 5th. Jefferies Group LLC reaffirmed a “buy” rating and set a $120.00 target price on shares of PPG Industries in a research report on Thursday, July 6th. Barclays PLC lifted their target price on PPG Industries from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Monday, April 24th. Finally, TheStreet raised PPG Industries from a “c+” rating to a “b+” rating in a research report on Monday, May 22nd. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $114.50.
PPG Industries (NYSE:PPG) traded down 0.58% during trading on Friday, reaching $102.08. The company’s stock had a trading volume of 1,778,770 shares. The company has a market capitalization of $26.18 billion, a PE ratio of 26.86 and a beta of 1.54. The company has a 50 day moving average price of $107.13 and a 200-day moving average price of $106.21. PPG Industries has a 52 week low of $89.64 and a 52 week high of $113.67.
PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 EPS for the quarter, meeting the consensus estimate of $1.83. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the company posted $1.73 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. Equities research analysts anticipate that PPG Industries will post $6.11 earnings per share for the current year.
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In other PPG Industries news, VP Glenn E. Bost II sold 19,812 shares of the company’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $100.80, for a total value of $1,997,049.60. Following the transaction, the vice president now owns 52,748 shares of the company’s stock, valued at $5,316,998.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Douglass Winthrop Advisors LLC purchased a new position in PPG Industries during the first quarter valued at $704,000. Cable Hill Partners LLC boosted its position in PPG Industries by 8.5% in the first quarter. Cable Hill Partners LLC now owns 981 shares of the specialty chemicals company’s stock valued at $103,000 after buying an additional 77 shares during the last quarter. New England Research & Management Inc. boosted its position in PPG Industries by 1.5% in the first quarter. New England Research & Management Inc. now owns 10,075 shares of the specialty chemicals company’s stock valued at $1,059,000 after buying an additional 150 shares during the last quarter. Rathbone Brothers plc boosted its position in PPG Industries by 19.0% in the first quarter. Rathbone Brothers plc now owns 52,663 shares of the specialty chemicals company’s stock valued at $5,534,000 after buying an additional 8,407 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its position in PPG Industries by 0.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 224,638 shares of the specialty chemicals company’s stock valued at $23,605,000 after buying an additional 1,242 shares in the last quarter. 71.54% of the stock is currently owned by institutional investors.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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