PPG Industries (NYSE:PPG) PT Lowered to $150.00 at UBS Group

PPG Industries (NYSE:PPG) had its target price reduced by equities research analysts at UBS Group from $156.00 to $150.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s price target indicates a potential upside of 11.02% from the company’s current price.

A number of other analysts have also weighed in on the company. Vertical Research upgraded PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. Royal Bank of Canada cut their price target on PPG Industries from $158.00 to $156.00 and set a “sector perform” rating on the stock in a research note on Monday, January 22nd. Redburn Atlantic lowered PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a research note on Thursday, February 1st. Barclays lowered PPG Industries from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $163.00 to $149.00 in a research note on Tuesday, February 27th. Finally, Wolfe Research assumed coverage on PPG Industries in a research note on Friday, March 1st. They set a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $158.00.

PPG Industries Stock Performance

NYSE:PPG opened at $135.11 on Friday. The stock’s fifty day moving average is $140.53 and its 200 day moving average is $138.87. PPG Industries has a fifty-two week low of $120.32 and a fifty-two week high of $152.89. The firm has a market capitalization of $31.80 billion, a PE ratio of 25.30, a PEG ratio of 1.61 and a beta of 1.28. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 1.47.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, April 18th. The specialty chemicals company reported $1.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.86. PPG Industries had a return on equity of 23.51% and a net margin of 6.96%. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter last year, the firm posted $1.82 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. On average, sell-side analysts anticipate that PPG Industries will post 8.46 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the completion of the sale, the chief financial officer now owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On PPG Industries

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wedmont Private Capital lifted its holdings in shares of PPG Industries by 2.9% during the fourth quarter. Wedmont Private Capital now owns 2,464 shares of the specialty chemicals company’s stock worth $363,000 after purchasing an additional 70 shares during the period. Barrett & Company Inc. raised its position in PPG Industries by 10.6% during the fourth quarter. Barrett & Company Inc. now owns 763 shares of the specialty chemicals company’s stock valued at $114,000 after acquiring an additional 73 shares in the last quarter. West Michigan Advisors LLC raised its position in PPG Industries by 3.4% during the fourth quarter. West Michigan Advisors LLC now owns 2,262 shares of the specialty chemicals company’s stock valued at $338,000 after acquiring an additional 74 shares in the last quarter. Colony Group LLC raised its position in PPG Industries by 3.0% during the second quarter. Colony Group LLC now owns 2,540 shares of the specialty chemicals company’s stock valued at $377,000 after acquiring an additional 74 shares in the last quarter. Finally, FinTrust Capital Advisors LLC raised its position in PPG Industries by 38.6% during the fourth quarter. FinTrust Capital Advisors LLC now owns 273 shares of the specialty chemicals company’s stock valued at $41,000 after acquiring an additional 76 shares in 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.