PPG Industries (NYSE:PPG) PT Lowered to $150.00 at UBS Group

PPG Industries (NYSE:PPG) had its price objective reduced by research analysts at UBS Group from $156.00 to $150.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s target price would suggest a potential upside of 11.02% from the company’s previous close.

Several other analysts also recently commented on the stock. Vertical Research raised shares of PPG Industries from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Citigroup cut their price objective on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Wells Fargo & Company raised shares of PPG Industries from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $150.00 to $163.00 in a report on Thursday, April 11th. KeyCorp cut their price objective on shares of PPG Industries from $167.00 to $164.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. Finally, Wolfe Research assumed coverage on shares of PPG Industries in a report on Friday, March 1st. They issued a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $158.00.

PPG Industries Stock Performance

Shares of PPG stock opened at $135.11 on Friday. The company has a market capitalization of $31.80 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 1.61 and a beta of 1.28. 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 50-day simple moving average of $140.53 and a 200 day simple moving average of $138.87. PPG Industries has a 52 week low of $120.32 and a 52 week high of $152.89.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, April 18th. The specialty chemicals company reported $1.86 EPS for the quarter, hitting the consensus estimate of $1.86. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.43 billion. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. PPG Industries’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.82 EPS. On average, sell-side analysts predict that PPG Industries will post 8.46 earnings per share for the current year.

Insiders Place Their Bets

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $140.94, for a total transaction of $479,196.00. Following the sale, the chief financial officer now directly owns 28,439 shares of the company’s stock, valued at approximately $4,008,192.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its stake in PPG Industries by 11.0% during the third quarter. FMR LLC now owns 358,333 shares of the specialty chemicals company’s stock worth $46,512,000 after acquiring an additional 35,571 shares in the last quarter. Cerity Partners LLC raised its holdings in PPG Industries by 137.5% during the fourth quarter. Cerity Partners LLC now owns 34,937 shares of the specialty chemicals company’s stock worth $5,224,000 after buying an additional 20,226 shares during the last quarter. Nomura Holdings Inc. raised its holdings in PPG Industries by 2.3% during the third quarter. Nomura Holdings Inc. now owns 8,479 shares of the specialty chemicals company’s stock worth $1,101,000 after buying an additional 192 shares during the last quarter. Financial Counselors Inc. raised its holdings in PPG Industries by 6.4% during the third quarter. Financial Counselors Inc. now owns 1,883 shares of the specialty chemicals company’s stock worth $244,000 after buying an additional 114 shares during the last quarter. Finally, Vest Financial LLC raised its holdings in PPG Industries by 42.6% during the fourth quarter. Vest Financial LLC now owns 217,865 shares of the specialty chemicals company’s stock worth $32,582,000 after buying an additional 65,073 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

About PPG Industries

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.