PPG Industries (NYSE:PPG) Price Target Increased to $115.00 by Analysts at Deutsche Bank

PPG Industries (NYSE:PPG) had its target price increased by Deutsche Bank from $108.00 to $115.00 in a research note published on Friday morning, The Fly reports. The firm currently has a buy rating on the specialty chemicals company’s stock.

A number of other equities research analysts have also recently commented on the stock. Bank of America upgraded shares of PPG Industries from an underperform rating to a neutral rating in a research note on Monday, March 23rd. Barclays decreased their target price on shares of PPG Industries from $135.00 to $106.00 and set an equal weight rating on the stock in a research note on Wednesday, April 29th. Wells Fargo & Co decreased their target price on shares of PPG Industries from $155.00 to $110.00 and set an overweight rating on the stock in a research note on Thursday, March 26th. Berenberg Bank cut shares of PPG Industries from a buy rating to a hold rating in a research note on Wednesday, March 25th. Finally, Credit Suisse Group decreased their target price on shares of PPG Industries from $126.00 to $103.00 and set a neutral rating on the stock in a research note on Friday, April 24th. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. PPG Industries has a consensus rating of Hold and a consensus target price of $110.60.

Shares of NYSE:PPG opened at $102.14 on Friday. The firm’s 50 day moving average price is $99.82 and its 200-day moving average price is $108.10. PPG Industries has a twelve month low of $69.77 and a twelve month high of $134.36. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $24.25 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 2.52 and a beta of 1.26.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Monday, April 27th. The specialty chemicals company reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.02. PPG Industries had a net margin of 7.88% and a return on equity of 27.56%. The firm had revenue of $3.38 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter in the prior year, the business earned $1.38 EPS. The business’s quarterly revenue was down 6.8% on a year-over-year basis. Analysts expect that PPG Industries will post 4.3 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, May 11th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Friday, May 8th. PPG Industries’s dividend payout ratio is presently 32.80%.

Hedge funds have recently made changes to their positions in the company. Valeo Financial Advisors LLC increased its holdings in shares of PPG Industries by 55.8% in the first quarter. Valeo Financial Advisors LLC now owns 483 shares of the specialty chemicals company’s stock valued at $46,000 after purchasing an additional 173 shares during the period. Procyon Private Wealth Partners LLC acquired a new position in shares of PPG Industries in the fourth quarter valued at about $48,000. Aigen Investment Management LP acquired a new position in shares of PPG Industries in the first quarter valued at about $54,000. Orion Portfolio Solutions LLC acquired a new position in shares of PPG Industries in the fourth quarter valued at about $64,000. Finally, NuWave Investment Management LLC increased its holdings in shares of PPG Industries by 277.6% in the first quarter. NuWave Investment Management LLC now owns 861 shares of the specialty chemicals company’s stock valued at $72,000 after purchasing an additional 633 shares during the period. 76.91% of the stock is currently owned by institutional investors and hedge funds.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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The Fly

Analyst Recommendations for PPG Industries (NYSE:PPG)

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