PPG Industries (NYSE:PPG) Stock Price Expected to Rise, Citigroup Analyst Says

PPG Industries (NYSE:PPG) had its target price upped by research analysts at Citigroup from $116.00 to $120.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the specialty chemicals company’s stock. Citigroup’s price objective points to a potential upside of 15.88% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on PPG. Bank of America lowered their target price on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of PPG Industries in a research report on Friday, October 31st. Evercore ISI dropped their price target on PPG Industries from $145.00 to $112.00 and set an “in-line” rating for the company in a research report on Tuesday, November 11th. Sanford C. Bernstein decreased their price objective on shares of PPG Industries from $129.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, November 24th. Finally, Berenberg Bank cut their price target on shares of PPG Industries from $131.00 to $110.00 and set a “hold” rating for the company in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $122.54.

PPG Industries Stock Down 0.2%

Shares of PPG traded down $0.16 during trading hours on Thursday, reaching $103.56. The stock had a trading volume of 723,743 shares, compared to its average volume of 2,002,173. The company has a current ratio of 1.47, a quick ratio of 1.08 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $23.24 billion, a price-to-earnings ratio of 23.55, a P/E/G ratio of 2.85 and a beta of 1.16. PPG Industries has a 12 month low of $90.24 and a 12 month high of $124.74. The firm has a 50-day simple moving average of $99.57 and a 200 day simple moving average of $106.87.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.04. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.06 billion. PPG Industries had a return on equity of 23.61% and a net margin of 6.35%.The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the business posted $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Equities research analysts predict that PPG Industries will post 7.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PPG Industries

Several large investors have recently added to or reduced their stakes in PPG. Avior Wealth Management LLC raised its holdings in shares of PPG Industries by 8,828.7% in the second quarter. Avior Wealth Management LLC now owns 8,393 shares of the specialty chemicals company’s stock valued at $955,000 after acquiring an additional 8,299 shares in the last quarter. Walnut Level Capital LLC raised its holdings in shares of PPG Industries by 46.8% in the 2nd quarter. Walnut Level Capital LLC now owns 62,754 shares of the specialty chemicals company’s stock valued at $7,138,000 after purchasing an additional 20,000 shares in the last quarter. Jump Financial LLC lifted its position in shares of PPG Industries by 1,478.5% in the 1st quarter. Jump Financial LLC now owns 88,587 shares of the specialty chemicals company’s stock worth $9,687,000 after purchasing an additional 82,975 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in PPG Industries during the 1st quarter valued at $884,000. Finally, Mather Group LLC. lifted its position in shares of PPG Industries by 2.9% during the second quarter. Mather Group LLC. now owns 125,616 shares of the specialty chemicals company’s stock valued at $14,289,000 after buying an additional 3,551 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

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.