PPG Industries (NYSE:PPG) Price Target Raised to $128.00

PPG Industries (NYSE:PPG) had its price objective hoisted by Evercore from $112.00 to $128.00 in a note issued to investors on Wednesday,MarketScreener reports. Evercore’s price objective points to a potential upside of 1.13% from the company’s previous close.

PPG has been the topic of a number of other research reports. Zacks Research upgraded PPG Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. boosted their target price on PPG Industries from $117.00 to $126.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. The Goldman Sachs Group increased their price target on shares of PPG Industries from $118.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. BNP Paribas Exane decreased their price target on shares of PPG Industries from $113.00 to $112.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 14th. Finally, Sanford C. Bernstein upped their price objective on shares of PPG Industries from $123.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $125.93.

PPG Industries Price Performance

PPG traded up $2.32 on Wednesday, reaching $126.57. The company had a trading volume of 1,838,604 shares, compared to its average volume of 2,387,991. PPG Industries has a 52-week low of $90.24 and a 52-week high of $133.43. The company has a market cap of $28.40 billion, a price-to-earnings ratio of 18.24, a P/E/G ratio of 1.87 and a beta of 1.16. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.47. The business has a 50 day simple moving average of $113.06 and a 200 day simple moving average of $107.09.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, January 27th. The specialty chemicals company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). The company had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.77 billion. PPG Industries had a return on equity of 22.67% and a net margin of 9.93%.PPG Industries’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.61 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, sell-side analysts anticipate that PPG Industries will post 7.95 EPS for the current year.

Insider Transactions at PPG Industries

In other news, VP Chancey E. Hagerty sold 2,250 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $115.59, for a total value of $260,077.50. Following the completion of the transaction, the vice president owned 8,477 shares in the company, valued at $979,856.43. This trade represents a 20.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vincent J. Morales sold 78,095 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $131.00, for a total value of $10,230,445.00. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 115,217 shares of company stock valued at $14,771,523. 0.33% of the stock is owned by insiders.

Institutional Trading of PPG Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. Steigerwald Gordon & Koch Inc. bought a new stake in PPG Industries during the third quarter worth about $26,000. Dorato Capital Management purchased a new stake in shares of PPG Industries in the 4th quarter worth approximately $26,000. Resources Management Corp CT ADV raised its stake in PPG Industries by 900.0% during the fourth quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 225 shares during the last quarter. Quarry LP bought a new position in shares of PPG Industries during the third quarter valued at $26,000. Finally, Root Financial Partners LLC purchased a new position in shares of PPG Industries in the 3rd quarter worth about $30,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

About PPG Industries

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.