PPG Industries (NYSE:PPG) Price Target Raised to $140.00

PPG Industries (NYSE:PPG) had its target price upped by equities researchers at Mizuho from $125.00 to $140.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. Mizuho’s target price suggests a potential upside of 6.81% from the company’s previous close.

PPG has been the subject of several other research reports. Berenberg Bank cut their price target on PPG Industries from $131.00 to $110.00 and set a “hold” rating for the company in a report on Thursday, December 4th. The Goldman Sachs Group increased their target price on shares of PPG Industries from $118.00 to $132.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. UBS Group lifted their price target on shares of PPG Industries from $110.00 to $122.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. JPMorgan Chase & Co. increased their price objective on shares of PPG Industries from $117.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. Finally, Citigroup raised their price objective on shares of PPG Industries from $127.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $124.79.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $131.08 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $29.41 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 1.94 and a beta of 1.16. The firm’s 50 day moving average price is $109.18 and its 200-day moving average price is $106.06. PPG Industries has a twelve month low of $90.24 and a twelve month high of $131.21.

PPG Industries (NYSE:PPG) last announced its earnings results on Tuesday, January 27th. The specialty chemicals company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). The business had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.77 billion. PPG Industries had a net margin of 9.93% and a return on equity of 22.67%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.61 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Equities research analysts expect that PPG Industries will post 7.95 EPS for the current year.

Insider Activity at PPG Industries

In other news, CFO Vincent J. Morales sold 29,672 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $125.00, for a total transaction of $3,709,000.00. Following the transaction, the chief financial officer owned 28,439 shares of the company’s stock, valued at approximately $3,554,875. This represents a 51.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Chancey E. Hagerty sold 2,250 shares of the business’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $115.59, for a total value of $260,077.50. Following the transaction, the vice president owned 8,477 shares of the company’s stock, valued at approximately $979,856.43. The trade was a 20.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 37,122 shares of company stock valued at $4,541,078 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC grew its stake in PPG Industries by 306.2% in the 4th quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company’s stock worth $727,340,000 after acquiring an additional 5,351,103 shares in the last quarter. Norges Bank bought a new position in PPG Industries in the second quarter worth approximately $362,412,000. Wellington Management Group LLP increased its holdings in PPG Industries by 19.9% during the 3rd quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company’s stock worth $1,593,443,000 after purchasing an additional 2,521,004 shares during the period. Franklin Resources Inc. raised its position in PPG Industries by 48.9% during the 4th quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock valued at $716,256,000 after purchasing an additional 2,295,118 shares in the last quarter. Finally, Holocene Advisors LP lifted its holdings in shares of PPG Industries by 342.8% in the 2nd quarter. Holocene Advisors LP now owns 1,688,870 shares of the specialty chemicals company’s stock worth $192,109,000 after buying an additional 1,307,468 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Company Profile

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.