UBS Group Lowers PPG Industries (NYSE:PPG) Price Target to $150.00

PPG Industries (NYSE:PPG) had its target price cut by research analysts at UBS Group from $156.00 to $150.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s price target would indicate a potential upside of 14.59% from the company’s current price.

Several other research firms also recently weighed in on PPG. Wolfe Research initiated coverage on PPG Industries in a report on Friday, March 1st. They issued a “peer perform” rating for the company. Citigroup reduced their price objective on PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Barclays downgraded PPG Industries from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $163.00 to $149.00 in a research note on Tuesday, February 27th. Vertical Research raised PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $150.00 price objective on shares of PPG Industries in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $158.00.

PPG Industries Stock Down 3.1 %

PPG Industries stock opened at $130.90 on Friday. PPG Industries has a fifty-two week low of $120.32 and a fifty-two week high of $152.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 1.47. The company has a market capitalization of $30.81 billion, a P/E ratio of 22.11, a PEG ratio of 1.61 and a beta of 1.28. The stock has a 50-day simple moving average of $140.36 and a 200-day simple moving average of $138.95.

PPG Industries (NYSE:PPG) last posted its earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, meeting the consensus estimate of $1.86. PPG Industries had a return on equity of 23.13% and a net margin of 7.74%. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the previous year, the business earned $1.82 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Equities research analysts expect 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 the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the sale, the chief financial officer now owns 28,439 shares in the company, valued at approximately $4,008,192.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On PPG Industries

Large investors have recently bought and sold shares of the stock. FMR LLC grew its holdings in PPG Industries by 11.0% during the 3rd quarter. FMR LLC now owns 358,333 shares of the specialty chemicals company’s stock valued at $46,512,000 after buying an additional 35,571 shares during the last quarter. Cerity Partners LLC grew its holdings in PPG Industries by 137.5% during the 4th quarter. Cerity Partners LLC now owns 34,937 shares of the specialty chemicals company’s stock valued at $5,224,000 after buying an additional 20,226 shares during the last quarter. Nomura Holdings Inc. grew its holdings in PPG Industries by 2.3% during the 3rd quarter. Nomura Holdings Inc. now owns 8,479 shares of the specialty chemicals company’s stock valued at $1,101,000 after buying an additional 192 shares during the last quarter. Financial Counselors Inc. grew its holdings in PPG Industries by 6.4% during the 3rd quarter. Financial Counselors Inc. now owns 1,883 shares of the specialty chemicals company’s stock valued at $244,000 after buying an additional 114 shares during the last quarter. Finally, Vest Financial LLC grew its holdings in PPG Industries by 42.6% during the 4th quarter. Vest Financial LLC now owns 217,865 shares of the specialty chemicals company’s stock valued at $32,582,000 after buying an additional 65,073 shares during 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.