PPG Industries (NYSE:PPG) Receives Outperform Rating from BMO Capital Markets

PPG Industries (NYSE:PPG)‘s stock had its “outperform” rating restated by analysts at BMO Capital Markets in a report issued on Monday, Benzinga reports. They currently have a $155.00 target price on the specialty chemicals company’s stock, down from their previous target price of $160.00. BMO Capital Markets’ price objective would indicate a potential upside of 18.52% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. KeyCorp reduced their target price on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Barclays reduced 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 report on Monday, July 22nd. Royal Bank of Canada reduced their target price on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a report on Tuesday, July 23rd. Bank of America reduced their target price on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, Citigroup reduced their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $150.14.

PPG Industries Stock Down 0.1 %

Shares of PPG stock traded down $0.15 on Monday, hitting $130.78. The stock had a trading volume of 46,460 shares, compared to its average volume of 1,593,912. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average price of $127.21 and a 200 day moving average price of $129.01. The company has a market cap of $30.51 billion, a PE ratio of 21.44, a P/E/G ratio of 1.73 and a beta of 1.26. PPG Industries has a one year low of $118.07 and a one year high of $151.16.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.07 earnings per share. Research analysts anticipate that PPG Industries will post 8.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PPG Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Kingsview Wealth Management LLC increased its holdings in PPG Industries by 0.9% in the 1st quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock worth $1,204,000 after buying an additional 76 shares during the period. Applied Capital LLC FL grew its stake in shares of PPG Industries by 1.3% during the 1st quarter. Applied Capital LLC FL now owns 6,402 shares of the specialty chemicals company’s stock worth $928,000 after purchasing an additional 82 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of PPG Industries by 0.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock worth $2,549,000 after purchasing an additional 82 shares during the period. Klingman & Associates LLC grew its stake in shares of PPG Industries by 2.6% during the 2nd quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock worth $419,000 after purchasing an additional 83 shares during the period. Finally, Fragasso Financial Advisors Inc grew its stake in shares of PPG Industries by 0.6% during the 2nd quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock worth $1,757,000 after purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

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.