PPG Industries (NYSE:PPG) Price Target Raised to $130.00

PPG Industries (NYSE:PPG) had its price target hoisted by stock analysts at Citigroup from $118.00 to $130.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup‘s price target indicates a potential upside of 8.22% from the company’s current price.

Several other analysts have also recently weighed in on PPG. Royal Bank Of Canada decreased their price objective on shares of PPG Industries from $122.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Friday, October 9th. Mizuho raised their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. BMO Capital Markets cut their target price on shares of PPG Industries from $140.00 to $138.00 and set an “outperform” rating for the company in a research note on Monday, July 6th. Weiss Ratings restated a “hold (c)” rating on shares of PPG Industries in a research report on Monday, September 14th. Finally, Wells Fargo & Company raised their price target on PPG Industries from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $127.53.

PPG Industries Price Performance

Shares of PPG traded up $1.69 during trading hours on Thursday, hitting $120.12. The stock had a trading volume of 2,157,271 shares, compared to its average volume of 1,983,259. The company’s fifty day moving average is $108.51 and its two-hundred day moving average is $112.35. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.58 and a quick ratio of 1.15. PPG Industries has a 52 week low of $93.39 and a 52 week high of $133.43. The stock has a market capitalization of $26.70 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 2.04 and a beta of 1.06.

PPG Industries (NYSE:PPG) last announced its earnings results on Tuesday, October 27th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.13. PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The business had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter last year, the company posted $2.13 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts anticipate that PPG Industries will post 7.87 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Essential Partners LLC raised its position in shares of PPG Industries by 59.3% in the first quarter. Essential Partners LLC now owns 301 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 112 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of PPG Industries by 6.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,012 shares of the specialty chemicals company’s stock worth $244,000 after acquiring an additional 114 shares during the period. Ancora Advisors LLC lifted its holdings in shares of PPG Industries by 36.5% during the 2nd quarter. Ancora Advisors LLC now owns 430 shares of the specialty chemicals company’s stock worth $52,000 after acquiring an additional 115 shares during the period. Glenview Trust Co increased its stake in shares of PPG Industries by 0.8% in the 3rd quarter. Glenview Trust Co now owns 16,047 shares of the specialty chemicals company’s stock valued at $1,674,000 after purchasing an additional 125 shares during the last quarter. Finally, Wealth Alliance LLC boosted its stake in PPG Industries by 2.8% in the first quarter. Wealth Alliance LLC now owns 5,125 shares of the specialty chemicals company’s stock valued at $548,000 after buying an additional 139 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Key PPG Industries News

Here are the key news stories impacting PPG Industries this week:

• Positive Sentiment: Q3 results exceeded expectations: PPG reported adjusted earnings of $2.25 per share versus the $2.12 consensus estimate, while revenue rose 6.6% year over year to $4.35 billion, above the $4.28 billion forecast. Growth was supported by aerospace demand, higher pricing and improved volumes. PPG Q3 Earnings Beat Estimates
• Positive Sentiment: Improved outlook: Management raised the midpoint of its full-year adjusted EPS guidance to a range of $7.90 to $8.10 and expects fourth-quarter EBITDA margin expansion of up to 100 basis points. The upgraded outlook suggests continued benefits from pricing, volume growth and operating improvements. PPG Full-Year Guidance
• Positive Sentiment: Analysts raised targets: Wells Fargo increased its target to $135 from $130, Barclays to $137 from $136, and KeyBanc to $131. Bernstein also lifted its target to $137 from $136. The revisions indicate greater confidence in PPG’s earnings trajectory and leave meaningful implied upside from recent trading levels. Analyst Price-Target Changes
• Neutral Sentiment: Mixed analyst stance: UBS raised its target to $123 from $116 but maintained a neutral rating, suggesting the firm sees modest upside after the recent advance rather than a strong near-term catalyst. UBS PPG Recommendation

About PPG Industries

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company develops products designed to protect, decorate and improve the performance of surfaces and components used in transportation, construction, manufacturing and consumer products.

Its product portfolio includes automotive and commercial vehicle coatings, aerospace coatings, industrial and protective coatings, architectural paints, packaging coatings, and coatings used in marine and other specialty applications.