PPG Industries (NYSE:PPG) PT Raised to $155.00

PPG Industries (NYSE:PPG) had its price objective raised by Wells Fargo & Company from $146.00 to $155.00 in a research note issued to investors on Wednesday morning, The Fly reports. They currently have an overweight rating on the specialty chemicals company’s stock.

Several other research firms have also recently weighed in on PPG. Deutsche Bank Aktiengesellschaft upped their price target on shares of PPG Industries from $150.00 to $155.00 and gave the stock a buy rating in a report on Wednesday. UBS Group upped their price target on shares of PPG Industries from $132.00 to $142.00 and gave the stock a buy rating in a report on Tuesday, October 6th. Barclays upped their price target on shares of PPG Industries from $106.00 to $120.00 and gave the stock an equal weight rating in a report on Monday, July 20th. Royal Bank of Canada upped their price target on shares of PPG Industries from $141.00 to $144.00 and gave the stock an outperform rating in a report on Friday, October 9th. Finally, Bank of America upped their price target on shares of PPG Industries from $120.00 to $121.00 and gave the stock a neutral rating in a report on Monday, July 20th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $133.37.

Shares of PPG stock opened at $134.27 on Wednesday. The company’s fifty day simple moving average is $127.36 and its two-hundred day simple moving average is $109.74. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.35 and a quick ratio of 1.03. PPG Industries has a 1 year low of $69.77 and a 1 year high of $138.40. The stock has a market capitalization of $31.69 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 4.01 and a beta of 1.22.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Monday, October 19th. The specialty chemicals company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.01. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.60 billion. PPG Industries had a net margin of 7.85% and a return on equity of 25.46%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.67 earnings per share. Equities research analysts anticipate that PPG Industries will post 5.54 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Tuesday, November 10th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Monday, November 9th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.61%. PPG Industries’s dividend payout ratio is currently 34.73%.

In other news, EVP Timothy M. Knavish sold 15,300 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $120.69, for a total transaction of $1,846,557.00. Corporate insiders own 0.41% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. CX Institutional boosted its holdings in shares of PPG Industries by 144.0% during the second quarter. CX Institutional now owns 327 shares of the specialty chemicals company’s stock worth $35,000 after purchasing an additional 193 shares during the period. AlphaMark Advisors LLC boosted its holdings in shares of PPG Industries by 87.5% during the second quarter. AlphaMark Advisors LLC now owns 375 shares of the specialty chemicals company’s stock worth $40,000 after purchasing an additional 175 shares during the period. NEXT Financial Group Inc purchased a new stake in shares of PPG Industries during the third quarter worth about $60,000. Motco boosted its holdings in shares of PPG Industries by 1,781.3% during the second quarter. Motco now owns 602 shares of the specialty chemicals company’s stock worth $64,000 after purchasing an additional 570 shares during the period. Finally, Campbell Wealth Management bought a new position in PPG Industries in the second quarter worth about $66,000. Institutional investors own 77.11% of the company’s stock.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's Performance Coatings segment offers coatings, solvents, adhesives, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; and coatings, sealants, transparencies, transparent armor, adhesives, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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Analyst Recommendations for PPG Industries (NYSE:PPG)

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