PPG Industries (NYSE:PPG) Given New $110.00 Price Target at Berenberg Bank

PPG Industries (NYSE:PPG) had its target price reduced by equities researchers at Berenberg Bank from $131.00 to $110.00 in a research note issued to investors on Thursday,MarketScreener reports. The firm presently has a “hold” rating on the specialty chemicals company’s stock. Berenberg Bank’s price target suggests a potential upside of 8.85% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. UBS Group reduced their price target on shares of PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. Bank of America reduced their target price on PPG Industries from $131.00 to $129.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Wells Fargo & Company decreased their target price on PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of PPG Industries in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. boosted their price objective on PPG Industries from $112.00 to $117.00 and gave the company an “overweight” rating in a report on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, PPG Industries has a consensus rating of “Hold” and an average target price of $122.54.

PPG Industries Trading Up 0.4%

Shares of PPG Industries stock traded up $0.39 on Thursday, hitting $101.06. 2,474,670 shares of the company’s stock traded hands, compared to its average volume of 1,948,548. The company has a fifty day moving average of $99.79 and a two-hundred day moving average of $107.35. PPG Industries has a one year low of $90.24 and a one year high of $130.05. The company has a market capitalization of $22.68 billion, a price-to-earnings ratio of 22.92, a price-to-earnings-growth ratio of 2.77 and a beta of 1.16. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.08.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.04. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.06 billion. PPG Industries had a return on equity of 23.61% and a net margin of 6.35%.The company’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. As a group, sell-side analysts expect that PPG Industries will post 7.95 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Cookson Peirce & Co. Inc. grew its holdings in PPG Industries by 1.9% during the first quarter. Cookson Peirce & Co. Inc. now owns 4,862 shares of the specialty chemicals company’s stock worth $532,000 after buying an additional 89 shares in the last quarter. Summit Financial LLC boosted its holdings in PPG Industries by 1.3% during the 1st quarter. Summit Financial LLC now owns 7,246 shares of the specialty chemicals company’s stock worth $792,000 after acquiring an additional 90 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in PPG Industries by 6.6% during the 2nd quarter. Lazard Asset Management LLC now owns 1,576 shares of the specialty chemicals company’s stock worth $179,000 after acquiring an additional 97 shares during the last quarter. Bell Investment Advisors Inc grew its stake in shares of PPG Industries by 40.9% in the 1st quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company’s stock worth $39,000 after acquiring an additional 103 shares in the last quarter. Finally, G&S Capital LLC raised its holdings in shares of PPG Industries by 1.9% in the third quarter. G&S Capital LLC now owns 5,620 shares of the specialty chemicals company’s stock valued at $591,000 after purchasing an additional 104 shares during the last quarter. Institutional investors 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.