PPG Industries, Inc. (NYSE:PPG) received a $119.00 price objective from equities researchers at Credit Suisse Group in a note issued to investors on Friday. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 1.05% from the stock’s current price.
Several other brokerages have also recently issued reports on PPG. Zacks Investment Research cut PPG Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. BidaskClub raised PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. 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. Argus raised PPG Industries from a “hold” rating to a “buy” rating and increased their target price for the company from $110.61 to $136.00 in a research report on Wednesday, July 5th. Finally, Citigroup Inc. increased their target price on PPG Industries from $112.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $118.43.
PPG Industries (NYSE PPG) traded up 3.02% during midday trading on Friday, reaching $117.76. The company’s stock had a trading volume of 2,265,914 shares. The firm has a 50 day moving average price of $109.49 and a 200-day moving average price of $107.98. PPG Industries has a 12-month low of $89.64 and a 12-month high of $117.80. The company has a market cap of $30.20 billion, a P/E ratio of 30.98 and a beta of 1.55.
PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.52. The business had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.75 billion. PPG Industries had a return on equity of 28.77% and a net margin of 12.21%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.56 EPS. On average, equities research analysts predict that PPG Industries will post $5.97 earnings per share for the current fiscal year.
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In related news, insider Viktoras R. Sekmakas sold 18,616 shares of PPG Industries stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $102.49, for a total value of $1,907,953.84. Following the completion of the transaction, the insider now owns 15,545 shares in the company, valued at approximately $1,593,207.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Glenn E. Bost II sold 19,812 shares of PPG Industries stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $100.80, for a total value of $1,997,049.60. Following the completion of the transaction, the vice president now owns 52,748 shares of the company’s stock, valued at approximately $5,316,998.40. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the business. APG Asset Management N.V. increased its stake in PPG Industries by 6.2% during the 3rd quarter. APG Asset Management N.V. now owns 521,238 shares of the specialty chemicals company’s stock worth $56,638,000 after buying an additional 30,540 shares in the last quarter. Boyd Watterson Asset Management LLC OH increased its stake in PPG Industries by 17.8% during the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 6,129 shares of the specialty chemicals company’s stock worth $666,000 after buying an additional 924 shares in the last quarter. LS Investment Advisors LLC increased its stake in PPG Industries by 3.4% during the 3rd quarter. LS Investment Advisors LLC now owns 23,972 shares of the specialty chemicals company’s stock worth $2,605,000 after buying an additional 784 shares in the last quarter. Oakbrook Investments LLC purchased a new stake in PPG Industries during the 3rd quarter worth approximately $2,602,000. Finally, Skylands Capital LLC increased its stake in PPG Industries by 14.4% during the 3rd quarter. Skylands Capital LLC now owns 17,500 shares of the specialty chemicals company’s stock worth $1,902,000 after buying an additional 2,200 shares in the last quarter. Institutional investors own 73.93% of the company’s stock.
About PPG Industries
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. 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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